It’s no secret that the real estate market is messy right now. Inventory is tight, demand is high and prices and rates are on the rise. With these market conditions, it’s no wonder that agents, and especially lenders, may be experiencing some objections when it comes to people buying, selling, or financing a home. One of the most common objections we hear is “I think we’ll wait.” This blog post will explore what this objection means and how agents and lenders can best address it. Stay tuned!
Watch this quick training first:
When They Say “I Think We Will Just Wait”
#1 Goal – Help the client doubt their beliefs. You are not trying to “change their mind”. You’re not trying to convince them to buy or sell. You’re not there to tell them what to do, rather, you’re going to give them the tools that they need to decide what to do that’s best for them.
The base Magic Words script:
“Maybe you’re saying that because the current market situation really seems like a big deal today and maybe that’s the problem. Just for the fun of it, imagine you and your family 20 years down the road. You look back to this day when you had the opportunity to sell your house and make your next investment. Within this context, is the current market situation the most important factor in making your decision to go for your (5-6-7… or the things that are most important to them right now)?”
Edited for today’s market:
“Maybe you’re feeling that way right now because the current interest rates really seem like a big deal today and maybe that’s the problem. Hey, you know what? Just for the fun of it, let’s pretend, let’s imagine that you and your family, seven years down the road, and interest rates have shifted in your favor. And you look back to today when you had the opportunity to get this house and start building equity. And what I’m wondering is within this context, is today’s interest rate the most important factor for making your decision to make sure each of your kids has their own room and goes to the school that you want for them?”
NOTE: What we are not saying… “you’re wrong” or giving them the impression that waiting is bad. They’re waiting, and we need to unstick them. We need to unpause them. The way that you unpause somebody is almost always with time.
Magic Words Breakdown:
“Maybe” and “Right now”
Let’s break down this dialogue just a little bit.
I’m bringing into a challenge that their current problem, their current statement, their current feeling, or their logic, or belief exists right now in this moment. Then I’m framing it with the word “maybe”.
“I don’t know, but maybe you’re feeling this way right now.”
“Maybe” and “right now” are your magic words. “Maybe you’re feeling this way right now because the current interest rates really seem like a big deal today.”
A big deal today…putting the thought in their head that it may feel like a big deal today, but it won’t be later. So why wait.
So we’re putting the problem into, the problem exists today. The problem exists firmly in today. I let it exist. I’m fine with it existing, but it is not a future problem. It is a today problem.
“Imagine”
Now we’re going to move to the future with one of my favorite magic words, which is the word imagine. When you get them to imagine, you get them to pretend. It means jump into the future.
We’re going to literally say…
“Imagine that you and your family, seven years down the road, and the interest rates have shifted in your favor. I’m not saying they will shift in your favor, but you know what, I’m going to bet or guess, and take a chance that sometime between now and seven years, at one point in time, the interest rates will have gone lower than where they are today.”
Here’s the key part…
“When you look back to today, when you actually had the opportunity to get this house/find a house and start building equity… I’m wondering, in this context, is today’s interest rate the most important factor in making your decision to make sure that….(insert what’s important to them here).”.
Had the opportunity, meaning the opportunity will go away to get this house, to find the house that you want if they’ve paused their search.
“And I’m wondering within this context, is today’s interest rate your only deciding factor…
Here’s my only challenge for them, in this context, “is today’s interest rate the most important factor in making your decision to make sure that____. You must find that hot button. Is it more space for the kids, school, location…whatever it is… insert it to put the thought and decision in their mind.
“…your kids all have their own room and that they want to go to the school…”
People often put off buying, selling, or borrowing because they feel like it’s not the right time. They may be waiting for a better offer, a more advantageous market, or simply to feel more financially secure. However, in many cases, this hesitation only leads to further delays and missed opportunities. If you can help your clients think through their decision-making process and understand why now might actually be the best time for them to act, you’ll have done your job well. And if they still need some convincing, our scripts and systems will give you the tools you need to close the deal. Ready to start helping your clients make great decisions?
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