One Way To Stop The Bleeding Of Canceled Purchase Agreements
Author: Dan Stemen, Mutual of Omaha Mortgage
Here it is, another Monday morning and you really don’t want to check email or voicemail. You can’t stomach the thought of losing another purchase agreement that took you months to secure.
You think, “Hey, the holidays are coming up and I’m sure things will get better to start the new year.” Yeah, that’s called hope and hope is not a good sales strategy.
Maybe a better strategy is to drown your sorrows in your favorite adult beverage, and binge on Netflix or your favorite sports team. But wait, this is the holiday season after all, so maybe it’s best to pack it in for the year and fatten up on some good food and sugary desserts.
The reality of today’s home sales marketplace isn’t good. Ok, so we got that out on the table, but are you going to let the current market conditions take you out of the game in 2023, or are you going to step up and lead yourself into a better economic future for you and your family?
You have a lot of people that depend on you, even when you don’t feel like you can depend on yourself.
If you’re using “Hope” as a sales strategy, then you’re going to find yourself in a perilous financial situation as 2022 comes to an end and you move into 2023.
You’re letting interest rates and housing market conditions creep into your thoughts, and it’s dramatically affecting your ability to secure a signed purchase agreement.
A better strategy for re-igniting your home sales pipeline is to focus on belief. If you believe in what you’re selling then it will fuel your ability to close with confidence, but you will struggle to believe if the money thing is taking up space in your head.
How To Sell With Certainty
Belief in what you’re selling is the primary difference between an elite sale’s closer and one who is unemployed.
It was only a few months ago that homeowners were selling their homes at prices far above the real value, and home builders had so much traffic that they were pre-selling lots with deposits and had multiple back-up deposits.
Boy oh boy how fast things have changed!
Maybe you saw the downturn coming and had a contingent plan in place to sell homes in a high-interest, high-inflationary market. If so, well done!
Now let’s get real…most people believe a booming market will never end, but it always does, and when it does it creates a lot of stress and anxiety.
It’s easy to get seduced into a false sense of security when housing market conditions are favorable. A healthy pipeline makes us feel confident and certain that it will keep raining and raining down sales and profits.
The problem is, it’s easy to sell in a low interest rate environment when the marketplace has confidence and the purchasing power of the dollar isn’t under attack.
One of the biggest challenges home builders and Realtors face is the ebb and flow of consumer confidence. An even bigger challenge is when a potential homebuyer’s purchasing power gets crushed by rising interest rates and inflation. If you can’t overcome the money thing then you won’t be able to secure the close.
A Sales Strategy To Increase Sales, Even In A Market Downturn
Fixing the money thing should be your #1 Sales Strategy for attracting the attention of your ideal home buyer for the rest of 2022 and all of 2023.
Money is the biggest obstacle standing between you and a signed purchase agreement. Remove the money obstacle and the conversation moves away from fear, doubt and uncertainty, and toward confidence, clarity, and certainty.
But how do you do this, right?
When volatility hits there are only two options; retreat and wait for the storm to pass or create a plan, craft a powerful marketing message, and use both to increase your reach and sales growth.
First, you have to become a Marketer. A marketer is a beacon of hope for the marketplace. You pull this off by having a powerful marketing message that can’t be ignored.
Next, you must become a Closer. You have the have an unshakable amount of belief that what you are selling, and how you are selling it cannot be competed against by anyone else.
Third, you have to become a Market Leader. You are 100% responsible for your results. It’s not the market’s fault nor is it interest rates or inflation. If you don’t deliver your message and close the sale, it’s your fault.
Here’s the final piece…sell to a niche marketplace. You have a huge opportunity to help active adults, who are at least 62, move out of a home that doesn’t fit their lifestyle and instead move into one designed just for them.
This niche marketplace is looking for Market Leaders. These folks don’t want to drain all their savings by paying cash nor do they want to secure a traditional mortgage with the burden of on-going monthly mortgage payments.
What they want is a new, low-maintenance home with lifestyle freedom, and financial peace.
The Lifestyle Home Loan is one way to fix the money thing for your active adult prospects. It’s also a proven path for you to sell with belief, confidence, and certainty.
If you don’t want to be taken out in 2023, then the Lifestyle Home Loan program is one way to get back in the game. The program works great in low-interest environments and even better when interest rates are rising and the purchasing power of the dollar is in decline.
Get back in the game and give you and your family the financial security you desire. If you want to unlock the secret to rebuilding a profitable pipeline in 2023 and beyond, head over to www.MutualConnects.com/JeffShore to request a copy of our brand new Builder Blueprint.
If you want to talk after downloading the guide, shoot me an email at [email protected] and we’ll have a real and raw conversation about how you can have a game plan in place by the end of the year to crush it in 2023!
*The Lifestyle Home Loan is a Home Equity Conversion Mortgage for Purchase. The borrower must occupy the home as the primary residence and remain current on property taxes, homeowner’s insurance, the costs of home maintenance, and any HOA fees Mutual of Omaha Mortgage, Inc. dba Mutual of Omaha Reverse Mortgage, NMLS ID 1025894. 3131 Camino Del Rio N 1100, San Diego, CA 92108. Subject to Credit Approval. These materials are not from HUD or FHA and the document was not approved by HUD, FHA, or any Government Agency. For licensing information, go to: www.nmlsconsumeraccess.org Oregon Mortgage Lending License ML- 5208; Charges such as an origination fee, mortgage insurance premiums, closing costs and/or servicing fees may be assessed and will be added to the loan balance. As long as you comply with the terms of the loan, you retain title until you sell or transfer the property, and, therefore, you are responsible for paying property taxes, insurance and maintenance. Failing to pay these amounts may cause the loan to become immediately due and/or subject the property to a tax lien, other encumbrance or foreclosure. The loan balance grows over time, and interest is added to that balance. Interest on a reverse mortgage is not deductible from your income tax until you repay all or part of the interest on the loan. Although the loan is non-recourse, at the maturity of the loan, the lender will have a claim against your property and you or your heirs may need to sell the property in order to repay the loan, or use other assets to repay the loan in order to retain the property.
