March 3rd, 2021 1:38 PM by Jackie A. Graves
The fall in bond prices and the rise in rates continue. Awareness of things we control and those we do not are now significant. Seeing the opportunity of the situation is critical!
We do not control rates but do control the process we provide and the value that process brings to those we serve! NOBODY in this market has the best price; that left a few weeks ago, now all we have is our commitment to our process and the benefits our process provides!
In a rising rate environment, the ability to be correct, quick, and close in 30 days or less is the VALUE, because the cost of money rises over TIME.
Your fully documented pre-approval and the ability for your buyers to present an offer that will close in 30 days or less can now be worth more than a higher offer to a seller facing the cost of higher rates due to a longer loan lock or delay in their next purchase!
A listing agent and a seller can see the benefits of speed and time, manifest in a lower cost to finance their next home. The velocity of money is real; the cost of delay can be felt for decades!
Make it known why your process makes it possible to lock in a lower rate, close in fewer days, and allow for everyone involved benefiting because of your PROCESS!
Talk to your buyers, their agent, the listing agent, and even the seller. Have a video that details your process that you can share with everyone that talks about PROCESS over PRICE! Now more than ever because the best price is GONE for now but the need to buy continues!
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