Cons of Waiting for Lower Interest Rates

You've probably heard from prospective clients that they want to wait to buy until interest rates come down. What are the cons of that strategy? More buyers will enter the market in the spring. Historically over the last few years, there has been an uptick in buyers but a decrease in inventory. This equates to a more competitive market. If you compound this normal ebb and flow of the market with interest rates likely continuing to go down next year, then buyer demand will compound even more. It's all about educating your buyers not selling your buyers. Lines like "You should buy now because we don't know what's coming" are pushing them to buy right now but from a place of uncertainty. If you instead phrase things like: "Buying now might be right for you because historically the spring has been more competitive and lower interest rates will also dramatically increase the buyer pool," then you're giving them the knowledge they need to make the right decision for them.