Friday of this week I did a training for my agents on "Buyers Reluctance." The following are a few points that I hi-lighted in that session.
In a buyers market, there are opportunities that come available to buyers that a normal market does not afford. It often surprises me how often buyers fail to realize these opportunities. In our market currently, rates are at all time lows, there is a lot to choose from, prices are very favorable, and sellers are extremely motivated and willing to sweeten the pot to move their property. These variables contribute to what I feel is the best buying opportunity I have seen in my 20 years in the business. I will call it the perfect storm.
Eventually, each one of the variables that are contributing to this great opportunity will vaporize. What buyers need to understand is that if they are going to buy, now is the time to make the move.
Why aren't they....
Many buyers are in a fence-sitting, waiting, loitering, delaying, dawdling, postponing, vacillating, hesitating, wavering, faltering, pausing, footshuffling mode when they should be seizing the day and taking advantage of the opportunity to make a really good deal. Some buyers are imobilized by the fear of paying too much. They are attempting to "time" the market and buy at the bottom. What buyers fail to realize is that there is no bottom and waiting to try to time is will only cost them money and missed opportunity. No one can time the market.
The real buyers... the ones making a good deal aren't trying to predict the floor, they are just trying to buy smart and make a good deal realizing that we are near the bottom of the market and the next cycle will likely be and upswing. Smart buyers ask the question: "Has the market dropped enough to make a sensible purchase?"
The first step for a buyer making a good deal and maximizing opportunity is to get in contact with the one person who has a finger on the pulse of the market, your professional Realtor. I own a brokerage where I have approximately 60 top agents who day in and day out come across those opportunities that buyers dream of. Buyers need someone who can educate them on what is happening in the market and how best to structure a deal to maximize the gain.
If you need to be put in touch with someone who can do that for you, don't hesitate to call me at the office at 909.336.2131