Real estate agents should ask buyers why they want to buy, then compare their rent to a projected mortgage payment. If the mortgage costs less, position it as savings. If it costs more, understand why they'll pay the difference. The best agents let clients say no.
So when you already know these things, you're going to have to lean into it and say, look, Mr. Buyer, Ms. Buyer, it may or may not be the right time for you to buy. Then they're going to say, well, hang on just a minute. How do I know if it's the right time for me? We'll say, well, let's talk about why you want to buy. Why do they want to buy that house? Is it because their lease is up and they're paying $2,200 a month in rent? But with today's mortgage rates, they could buy at $1,800 a month. For that buyer, it might be, oh snap. It would save me money to buy. Maybe we should have that conversation. But if they're paying $2,200 a month in rent and the house payment would be $2,500, you say, all right, well, tell me, why are you willing to pay more to buy a house than you are in rent? Because they might say yes and they might say no. Are you willing to let them say no to you? That's the biggest marker for how your business can grow is when you allow people to get what they want. In fact, the most successful business people let somebody else get what they want, and then you benefit later. But are you willing to do that?
