For over 5 years now, buyers have been taught that anything they buy in real estate must be a “steal” or they shouldn’t buy it. The rationale for this approach is due to the deflationary price cycle the industry has experienced. Now that prices in many markets are at the bottom or even on the way back up, we should be seeing more “urgency” on the part of buyers. We’re not, because buyers have learned to sit on the fence through years of spaced-repetition.
It’s time for you as an agent to take control of the situation by reminding your buyers that the primary reason they are buying their home is because of the quality of life owning the home can provide. Change your buyer’s mindset by helping them remember that the reason they have worked hard all of their lives to make money is to provide a better quality of life for themselves and their family.
They can always make more money but they will never get back the lost time and lost memories that they could be enjoying by owning the home now.
Also, remind them that a focus exclusively on money is almost always leads to bad decisions.
Worst of all, if they guess wrong, and prices do go up, or their dream home is no longer available because someone else has purchased the best properties, they will do without their dream home “forever”.