A strategy that can help your buyer and seller clients in today’s market.
Due to prices softening and interest rates increasing, the market has drastically changed in the past few months, which has resulted in many buyers delaying their real estate plans. While it’s true that the market has shifted, our interest rates are still historically low. As an agent, how can you help your buyer and seller clients get the best opportunities in today’s market? Here’s a strategy I recommend you use: seller contributions.
A seller’s contribution to a buyer’s closing costs can be used to buy down the rate. For example, if you’re buying a $600,000 home and getting a $480,000 loan, you could use 1% of the mortgage amount (which is $4,800) to reduce the interest rate on your loan. This gives your buyer more purchasing power and maintains the price point for your seller. Over time, your buyers may save thousands of dollars while paying the loan as opposed to having a one-time reduction of $5,000 to $10,000.
“Seller contributions can be a great way to bring buyers and sellers together.”
This is a fantastic way to bring buyers and sellers together and a compelling way to bring buyers back to the market. If you need more details about this topic or have any questions, call or email me. I’ll be happy to connect with you
