I-A-Q #11: Help Your Clients Avoid Buyer’s Fatigue
Happy Monday!
Here is an Idea, an Action, and a Question to consider this week.
Idea
Buyers have an emotional reservoir—every time they make an offer, that process drains some of that reservoir. If a deal falls through, the disappointment drains even more of their emotional resources.
It’s a concept called buyer’s fatigue. They can only ride the emotional roller coaster of highs and lows for so long before they need to get off, before they decide to not buy anything at all.
Agents: To help manage your client’s buyer’s fatigue, manage their expectations. Explain what the current market looks like and how the realities of that market will impact their buying experience.
The conversation might sound something like this:
“Currently, we’re in a market where the interest rates are volatile. We may find a property you like, but in order to make the numbers work, we’ll need to get some seller concessions. Depending on how negotiations pan out, those concessions may or may not happen, so try not to get too emotionally invested until we get to closing.”
If you manage expectations early and often, you’ll significantly reduce your client’s emotional fatigue.
Action
The current market is tough, but your negotiating skills need to be tougher. Read Never Split the Difference by Chris Voss and become the kind of negotiator that is invincible—even in the bleakest of market conditions.
Question
Where are you seeing buyer’s fatigue in the current market, and how are you addressing it?
See you next week,
Matt “Roar” Gardner
Real estate investor-agent, Author of Supersonic Real Estate: Light Your Afterburner to Accelerate Your Investor-Agent Career (Coming Soon!), and keynote speaker
