Some people are looking at poor fourth quarter results and first quarter projections that are downright abysmal. You have a choice to make, you can complain about interest rates and inventory, or you can work with what is winning!
It’s easy to complain, it takes work to win! If you are busy complaining, you aren’t committed to working the plan that WINS! All across the country I have originators that are just doing their jobs and ignoring the complaining. Those are the people that are winning business and closing loans. The more people complain, the less competition they face to capture business by using the winning move!
Now, what wins the deal in one market, doesn’t always work in other markets; so, it’s important to look and see what is winning! And before you say something stupid like “they lost to an all-cash offer” or “someone else offered more money”, think about your local FACTS! What is the percentage of all cash offers in your market? I know it isn’t 100%. Besides, do you know how to compete with all cash offers? Do you know what the number really is? As far as someone offering more money, why wasn’t your client making their best offer first? If it was their best offer, maybe they need to look at houses that that offer could have won?
The fact that there are multiple offers and offers over asking just shows the strength of the market. The fact that people are making offers on three or more homes before they get an offer accepted actually shows that they found a number of houses in their market that they liked enough to make an offer on, so how is there an inventory issue? You can complain about a bad result, or you can get working on finding out what is winning in your market and help your people win!
Fun fact, one recent offer that was accepted contained an offer of free pizza every Friday until the home closed! Imagine that, winning by PIZZA! What is winning in your market?
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