If you know of potential buyers who’ve been waiting it out, tell them what’s going on in frank terms, then connect them with a trusted lender who will show them what their monthly payment might look like at the current mortgage rate for a property within their price, as well as a comparison of what it might be if rates reach 5 percent or more. Seeing the numbers in black and white could be the impetus indecisive buyers need to make their big move.
It’s natural for some people to panic a little when they see home prices and mortgage rates make big jumps, but it’s an inevitable part of the crests and troughs of a housing cycle. Remind homebuyers and sellers of your value by giving them the facts without the frills. With the right approach, you’ll help get those buyers and sellers off the sidelines and back into the game.
Margaret Kelly (CRB) is chief executive officer of RE/MAX, LLC.
For more information, visit www.remax.com.