Should Your Buyers Wait for Rates to Drop? Paul Morris Has the Answer!

Paul Morris has the question your buyers are thinking: Should we wait for rates to come down? Right now, rates are at a one-year high, and the Fed is likely to raise them again soon. As an agent, it’s crucial to be informed and provide your clients with the right answers. In this episode of the Forward One podcast, Paul breaks down the numbers you can't afford to miss, including the current 30-year fixed rate and the median home price. With pending sales down 5.4%, buyers are hesitating, and it’s essential to understand why. Paul shares insights on how to approach clients who are considering waiting for lower rates and why that might not be the best strategy. Instead of competing on predictions, focus on the facts and simple math to show your value as an agent. Paul also discusses the importance of knowing your local market numbers, which can set you apart from the competition. By pulling key metrics like active inventory and median days on market, you can provide your clients with the most relevant information. Remember, the house is the decision, and the rate is just a condition. If you’re ready to elevate your real estate game, tune in and learn how to master your market. 

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Presented by Forward One Real Estate
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Timestamps 

00:00:00 - The Rates Question Every Buyer Is Asking 
00:00:59 - The Three Numbers Driving the Market
00:02:20 - The Fed’s Decision and What Comes Next
00:04:01 - Payment Math: Should Buyers Wait or Move Now?
00:06:07 - Four Local MLS Numbers Agents Should Track
00:09:32 - How to Advise Buyers Who Want to Wait 

00:11:30 - Why Record Prices Aren’t Producing Seller Offers
00:13:11 - Pricing and Financing Strategies for Sellers 

00:15:48 - Weekly Homework: Know Your Local Numbers
00:17:13 - Disclaimer and Closing