Steven Burch shows how buying down mortgage rates by 0.5% on a $400,000 home saves buyers over $300 a month and opens the door to roughly 10% more potential buyers. Agents can use this as an alternative to price cuts and should include it in listings.
Over $300 per month.
Roughly another 10% of buyers.
Ransom numbers. And if you took a $400,000 house and just bought the interest rate down a half a %, the savings versus the cost of the list and lock versus a price reduction, the consumer saves over $300 a month that you can take to the grocery store. Right? And, and more importantly, that $300 a month means there might be another 10% of the buyers that that house now becomes affordable to that could look at that. The other thing I want you to remember is real estate professionals, if you come to your client with a solution other than them writing a check, cutting their price, even though they're paying for this, they're, they're going to look at you better. So they appreciate that. They love you coming with a solution other than just cut the price because most of them, they think that's all you ever ask. Cut the price. Cut the price. Price. Cut the price. Okay, so this is a solution for that. So if next mortgage is in your marketplace, the list and lock should be in your listing.
