One of the questions agents are hearing the most of right now is; if client's sell - where will they buy? The reality is that unless someone has a lot of capital on hand, buying a home is hard right now. Between bidding wars and low inventory buyers aren't exactly feeling the love in this current market.
How to Solve This As An Agent
When clients feel stressed about what they'll do if they sell their current home, that's a perfect time for an agent to step in and solve their problems. This type of problem solving is what creates strong client relationships and hopefully, referrals and repeat business.
The first thing agents should do if their sellers are concerned about what they'll they do if they sell is to offer legitimate options. What this means essentially is to break down what the clients can realistically and feasibly do if they sell their home. Specifically in regards to "If I sell, where will I buy?" offer suggestions of homes that you know check boxes for them and are in their price range. Odds are, sellers are selling for a reason - so what could a new home provide?
When Time Is On Your Side
If a seller needs to buy a new primary residence, time is of the essence. But this can actually work in an agent's favor. The situation itself calls for clients and agents to move quickly and be decisive - which can take a lot of the wishy-washy behavior of buying out of the question. However, be careful not to seem to rushed or frazzled because then sellers may decide to pull their listing from the market.
If an agent already knows that their client won't find a home to purchase that they'll be happier in, they have two options.
- Look for rentals
- Be honest and potentially don't sell the home
There is something to be said about renting until a home becomes available that fits the needs of clients. While some may balk at this - it's worth a shot. Especially if clients could rent in a fun location for a short period of time; why not?
The other option is to simply let your clients know that you think everyone should keep an eye out, but to not make any sudden moves or risk the dreaded buyers and sellers remorse combo.
Moving Up In the World
Hooray! You've found your clients the perfect place to buy and they are, in fact, selling. Everyone is moving up in the world and you've just closed two deals essentially. This is every agent's dream. Remember that if a client is concerned about "if I sell, where will I buy?" the best thing their agent can do is offer them multiple different options and perspectives in order to ease a very reasonable concern. Especially in a competitive market agents need to use every connection they have to get their clients settled.
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