Getting Buyers Off the Fence…An AR Contest...

By
Real Estate Agent with Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605


A few days ago The New York Times had a featured article in the Real Estate section about my area in particular entitled "Renting Is All the Rage"  by  Elsa Brenner.

"Brokers these days, wrestling with dwindling sales, would have their clients believe that there is no better time than the present to buy a home.  Prices are down, they say, and mortgage rates are at all time lows.....Unfortunately for the brokers, many clients are not persuaded by that logic. Instead, in increasing numbers, they are choosing to rent - unconvinced that the housing market has yet hit bottom"

Whether or not we are at the absolute bottom of the market - the brokers are correct.  This is when people should be snapping up properties right and left.  This IS the best time to buy. The deals are so sweet they are ripe for the picking. But buyers continue to walk away from a  market that hasn't been so affordable since Eisenhower was POTUS. 

In my market this includes buyers who are secure in their jobs, and  have credit to die for.  They are wealthy, well-heeled and completely capable of  making a major dent in  our large inventories.  They take their  agents and lenders on a wild goose chase before deciding that it just isn't sweet enough….so they continue to rent for the what seems like the national debt.

ActiveRain helped show me that I was not alone.  Recently there have been a flurry of blogs on AR about fickle buyers. They were referred to as "opportunity buyers", lookie lous, "the other shadow inventory", "fence sitters" and "future pipeline."  The names may be different but  the posts paint the same picture.  The problem is neither one individual agent's nor is it market specific - this issue has tentacles into every single market.

 

In many ways, it seems as though the public is blindly following a trend.  We do that in America.  We will follow the latest trend even it leads off a cliff.  Like automatons, we play follow the leader.  In 2004 and 2005 we went nuts buying super-sized homes with no money down using teaser loans.  Now renting is all the rage even it costs hundreds more a month than owning.   It doesn't matter that we are shooting ourselves in the foot.  If everyone else is doing it,  it must be good!


So how do we break the trend? How do we make buying a home chic again?  How do we use the power of the ActiveRain community to get buyers off the fence and into a home they can call their own?

Well, what about a blogging contest that specifically aims at getting buyers off the fence?

There would be a minimum of six blog posts required:


1. A minimum of two posts that would explain to buyers why the time to buy is NOW.These should be aimed at the general public.  You can point to any factor you want.  Such as...

  • The cost of buying vs. renting.
  • The impact of low interest rates on cost.
  • The affordability factor being better than it has been in 50 years.



2. A minimum of two posts on addressing buyers concerns and misconceptions during difficult markets. This too should be aimed at the general public.  Issues could include...

  • What if prices continue to decline?  
  • Why a buyers market doesn’t mean you can have a mansion for a song.  
  • Why buying what you can comfortably afford isn’t “settling”.



3.  A minimum of two posts on how you deal specifically with fence - sitters and chronic lookers.   You might want these to be members only in order to encourage free dialogue.   Tell us what rocks and what flops!  Such as...

  • What kind of scripts do you use?  
  • What type of reasoning works?  
  • How do you deal with the uber-picky buyer who is looking for perfection?  

Directions:

1. The contest begins October 5th and ends at midnight on October 26th.

2. You need to post your links in the comments section below.  A new page will be added for comments to continue should this post fill.
3. You will also have to take one extra step when you have finished all six posts:  Email the posts and links to Ruthmarie.Hicks@gmail.com and include your AR user name.  I will forward these to ActiveRain and that will complete your entry.

And of course you get points!

2000 points for completing all six posts.  There will be a prize of 1000 points for the best set of posts overall.


There are plenty of ways we can help each other and possibly, just possibly make a dent in this very depressing market by using the power of AR to create a buzz about why now IS the time to buy!


As of now, I am shutting down comments to this blog - here is the link to the CONTEST UPDATE:  You can put your posts in on that comment section....

close

Re-Blogged 7 times:

Re-Blogged By Re-Blogged At
  1. Yvonne Burdette-Van Camp 10/05/2011 01:22 PM
  2. Pam Hills 10/05/2011 07:18 PM
  3. Jerry Newman 10/06/2011 09:45 PM
  4. Ken 360.609.0226 Vancouver Homes for Sales 10/08/2011 03:49 PM
  5. Mary Macy 10/10/2011 12:01 AM
  6. Lenn Harley 10/12/2011 01:53 PM
  7. Jeff Dowler CRS 10/12/2011 08:04 PM
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Show All Comments
Ambassador
1,832,036
Jeff Dowler CRS
Solutions Real Estate - Carlsbad, CA
Carlsbad CA Homes for Sale (760) 840-1360

Ruthmarie

Well better late than never. Just heard about this from Lenn. I am traveling but we'll see what we can do.

Jeff

Oct 12, 2011 07:25 PM #129
Rainmaker
1,237,444
Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA
General Contractor, Dry Rot and Water Damage
Rainmaker
808,502
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

Ruthmarie - I saw this in the Contests channel and then on Lenn's blog.  I don't know if I'll participate, but I'm sure going to read the entries.  I don't work with fence sitters, so I don't have many techniques.  I only know that rentals are going up in price and buying is cheaper in many cases than renting and gives you financial stability - rents can rise, but a fixed rate mortgage stays the same.

Oct 12, 2011 09:47 PM #131
Rainmaker
594,339
Joy Daniels
Joy Daniels Real Estate Group, Ltd. - Harrisburg, PA

http://activerain.com/blogsview/2553785/lots-of-reasons-to-buy-a-home-now-

This is my first post - but it covers your 2nd grouping.  :)  I'll get the rest of them in - just felt inspired to do this one first.

Oct 12, 2011 09:51 PM #132
Rainmaker
365,165
Cathy Bureau
www.GreenHomeRealty.com - Alamo Heights, TX
Your Personal Real Estate Concierge
Rainmaker
299,915
Jenifer Lower
Bozeman Montana Real Estate .net - Bozeman, MT
Team Service Above Expectation

Okay, here are my first few blogs for this contest!

               Buyers, now is the time to move up!

               Buyers Misconceptions in Foreclosures and Negotiations

Oct 13, 2011 01:52 AM #134
Rainmaker
496,175
Judith Parker
ProStead Realty - Charlotte, NC
CRS, GRI, CMRS, Charlotte, NC

Hi Ruthmarie,  looks like a great contest and I need to jump in and quick.  Thanks for making me think.  Have a great day!

Oct 13, 2011 05:12 AM #135
Rainmaker
286,020
Mark Edwards
East West Communities, Hampton Roads, Virginia - Suffolk, VA
East West Realty

Ruthmarie,

Here is my first Great Time to Buy a Home NOW post....

http://activerain.com/blogsview/2554071/my-top-7-reasons-why-it-is-a-great-time-to-buy-a-new-home-now

 

Thanks, Mark Edwards

Oct 13, 2011 08:20 AM #136
Ambassador
745,957
Jerry Newman
Green Home Realty, 210-789-4216,www.Selling-SanAntonioHomes.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Ruthmarie, Just getting started, but here is my first post.

Texas Home Buyers - Now Is A Great Time to Buy That Dream Home

Oct 13, 2011 09:15 AM #137
Rainmaker
286,020
Mark Edwards
East West Communities, Hampton Roads, Virginia - Suffolk, VA
East West Realty

Ruthmarie,

 

Here's my second post that outlines the factors that affect buying decisions and tips on how to overcome their fears...

http://activerain.com/blogsview/2554602/how-do-you-get-people-off-the-fence-what-techniques-have-you-found-to-be-successful-in-today-s-market-

 

Thanks. Mark Edwards

Oct 13, 2011 01:54 PM #138
Ambassador
1,739,442
Barbara-Jo Roberts Berberi & Corinna Birgit Cromartie
Charles Rutenberg Realty - Palm Harbor, FL
Palm Harbor & Dunedin FL Residential Real Estate

http://activerain.com/blogsview/2554861/fence-sitters-what-motivates-them-facts-

I will post the others here as I finish them (in this block)

Oct 13, 2011 04:19 PM #139
Rainmaker
808,762
Paula McDonald
Chevaux Group, PLLC - The Woodlands, TX
CHEVAUX Group ~ The Woodlands, TX 936-203-0279

Here you go.  My first post for this contest:

http://activerain.com/blogsview/2554960/i-quit-babysitting-in-jr-high-

Oct 13, 2011 05:15 PM #140
Rainer
78,560
Gayle Beyer
Welcome Center Realty 772-336-8583, FLA777 - Port St Lucie, FL
Port St Lucie FL Real Estate Broker

I am going to do this contest but I also want to say shame on the media. On thier quote

"Brokers these days, wrestling with dwindling sales, would have their clients believe that there is no better time than the present to buy a home. Prices are down, they say, and mortgage rates are at all time lows.....Unfortunately for the brokers, many clients are not persuaded by that logic. Instead, in increasing numbers, they are choosing to rent - unconvinced that the housing market has yet hit bottom"

I would like to know where their source of info is coming from. They certainly don't help and to boot.. it does not help the Brokers/Agents who pay to advertise the homes for sale in thier media. I once worked for a new home builder and while we ran a full page ad.. opposite was an article discouraging new home building... really... Media - stop hyping and start helping. OK now to think about my contest blogs..

Oct 13, 2011 06:44 PM #141
Rainmaker
594,339
Joy Daniels
Joy Daniels Real Estate Group, Ltd. - Harrisburg, PA
Ambassador
758,853
Brenda Mullen
RE/MAX Access - Schertz, TX
Your San Antonio TX Real Estate Agent!!

Whohoo here's number 6!

It's a Buyer's Market in San Antonio Texas - Two Big Fairytales or Myths

 

I will gather them together and send you the e-mail with the links.

Oct 13, 2011 08:02 PM #143
Rainmaker
594,339
Joy Daniels
Joy Daniels Real Estate Group, Ltd. - Harrisburg, PA
Oct 13, 2011 08:09 PM #144
Rainmaker
496,939
Cal Yoder
Keller Williams of Central PA East - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

My first post:

http://activerain.com/blogsview/2555197/buying-a-home-for-sale-in-lancaster

Cal

Oct 13, 2011 08:56 PM #145
Rainmaker
1,237,444
Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA
General Contractor, Dry Rot and Water Damage
Rainmaker
681,585
Ruthmarie Hicks
Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605 - White Plains, NY

Hi Jeff - looking forward to it.

Hi Tom - Another great title!

Hi Gene - I think you emailed me - if not - please do!

HI David - Looking forward to it.

Hi Laura - I hope it helps!

Hi Paula - the topic is timely - I think that's what is doing it.

Hi Sherri - That's great!

Hi Debora - Just have fun with it!

hi Mark - just make sure you email me the posts.. This is going to get crazy.

Hi Gail - Thanks so much for commenting - I agree with you of course.

Hi Joy That's great -keep em coming.

Hi Cathy - just be sure to emaiil me!

Hi Jennifer - that's terrific.

Hi Judith - Looking forward to your posts.

hi Mark - great thanks for joining!

Hi Barbara-Jo - that's teriffic.

Hi Paula - I loved that post - great read with a new take.

Hi Gayle - Unfortunately around here everyone thinks renting is "Chic" The NY Times is in NY - so  it makes sense.  The entry level is in total stagnation.

Hi Brenda - Thanks so much - i got the email.

Hi Cal That's great...

Hi Tom - LOVE THE TITLE - I see that too!

 

EVERYONE - I will be shutting down comments on this thread as of now!  Here is the LINK to the CONTEST UPDATE!!!

 

Oct 14, 2011 01:11 PM #147
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Rainmaker
681,585

Ruthmarie Hicks

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