Q. How can we deal with buyer and vendor tension in the current market? – Christine Henderson, Hodges Beaumaris
This is a key issue at the moment.
There will always be two types of tension between vendors and buyers – positive tension and negative tension.
Negative tension arises when buyers see a risk in purchasing.
For example, they worry that buying now may see them pay too much for the property and they wonder if it would be possible to pay less if they waited six months.
Smart agents can turn negative tension into positive tension. To do this you need to eliminate the risk for the buyer.
The best way to do this is through empathy.
Empathy allows you to meet the buyer at their level.
This dialogue could sound like this:
“I understand how you feel, Mr and Mrs Buyer, and we’ve had other buyers who have felt just like you do now.
“What we have found is that buyers who bought a property based on their criteria and needs have been so happy with their purchase as they now have their weekends back.
“They plan to live there for the next 10 years and historical data tells us that property prices double every seven to 10 years.”
The more empathy you show, the more your client will see you eliminating the risk and they will work with you.
Using a case study or storytelling can assist you in turning negative tension into positive tension.
Harness the tension and deliver conversion.
