I don’t know about you, but in these crazy COVID-19 times, things are changing almost faster than I’m able to keep up. I get asked this question by my agents frequently: “How do I help my sellers make the right decisions during this pandemic?” The toughest part about navigating the world today is that there’s so much fear.
In any market that creates fear in sellers, I employ the same tried-and-true tactic: Combat the fear with facts. Let your clients know what’s really going on in the market—not what their neighbors think is happening, not what the 24-hour news cycle thinks is happening, etc. Position yourself as the economist of choice right now by knowing your market data. For example, I can tell you that just a few weeks ago, 1,092 homes sold in the seven counties that we service, and 1,089 homes went under contract.
“Whenever you can show people news that’s backed by data, it helps them make the right decision.”
When you’re well-equipped with statistics, people around you will feel calmer. A client might say, “I don’t think homes are selling right now,” or, “I don’t feel like this is a good time to list my home.” The common thread between each statement is that they’re emotion-based—the action verbs are ‘think’ and ‘feel.’ Recognize and empathize with their emotion, then deviate and show them the facts. For example, you could say, “You know, I thought the same thing, but then I took a good hard look at the numbers.”
It’s not enough to just spout numbers, though. Explain to them the underlying trend, like the fact that there are plenty of eager buyers pouring into the market. Encourage and empower them.
Our team has been looking at data more than we ever have before, and we’re seeing some amazing things. In Crieve Hall, where we work the most, there was a 12% year-over-year increase in sales in April (Note: April was a month of complete COVID-19 closure, so that’s fantastic news). Whenever you can show people news that’s backed by data, it helps them make the right decision.
If you have additional questions about the information covered in today’s message, feel free to call or email me. I would love to speak with you.
