Every good agent knows that buyers and sellers won’t make a move without some sense of urgency. Most urgency is created by fear motivation. When people are afraid of losing out, they are much more likely to move forward. This is the principal, “The greatest limitations are self imposed”.

The most effective way to create urgency without appearing too aggressive is to share a cautionary tale or third party story. The tale or story explains how someone the agent knows who was in a similar situation had a bad experience or lost out because they didn’t make a move. The more specific the facts or information, the more powerful the story. An agent should use names and real price points when talking. When the story is shared, the message will be obvious and will compel your client to make a good decision. For example:

1. Seller Example—”Last year, John and Mary, felt it made sense to wait another year to sell. When we looked at the consequences of their decision, the value of their home had dropped $50,000 and they spent another $25,000 on carrying costs. By waiting an extra year, their decision cost them $75,000. Once they realized this, they reduced their price and quickly sold their home.”
2. Seller Example #2—”I worked with Mike and Beth last year and they wanted to sell their house for $300,000 but couldn’t get it. They were planning on moving closer to their grandkids so they could spend the summers with them. If it wasn’t bad enough that they lost quality time with their grandkids last summer, they’ve also lost this summer as well. Realizing that the quality of time they could spend with their grandkids was priceless, they reduced the price of their home and just put it under contract. They called me to thank me for helping them make a wise decision.”
3. Buyer Example #1—”I’ve been working with Ed and Nancy now for the past year. Although their anxious to buy a home to enjoy, they’ve been nervous about moving forward and possibly paying too much. They’ve put very low offers on two separate homes that they love and lost out on both. Fortunately, they were able to find another house that they love. They purchased the home and are happy to be enjoying life. They were lucky, several other couples that I’m working with have not made a final decision, prices are now 7% higher, and the selection isn’t near as good. I am concerned that these other couples are going to be stuck paying more for houses other people didn’t want for the rest of their lives.
4. Buyer Example #2—”Bob and Debbie just closed on a home with a $250,000 mortgage. They were able to get a great price for a house they really wanted but I wish I could have done just a little better job for them. They could have bought the house 6 months ago before the interest rates went up. They are now stuck with a 6% mortgage for as long as they own the house which could be for 10 years or more. Although I’m happy they got a good rate because their expecting rates to go to 8.5%, I am disappointed that I wasn’t able to get them to buy 6 months ago at a 4.5% interest rate. They are now paying $150.00 more a month which will cost them an extra $18,000 they could have used for retirement.