5 Scripts for Dealing with the Coronavirus

"The thing on everyone’s mind is the coronavirus….it’s scary no doubt but despite the up’s and down of the stock market – the real estate market is strong. In fact it’s incredibly healthy, back in 2008 there were 11 months of inventory, today in our market (quote local stats), in 2008 there were subprime loans that had created unsustainable gains and double digit appreciation, today loan standards are still very tight and interest rates are at 40 year lows, plus appreciation rates have normalized to <quote local market> … in 2008 we had people losing their jobs and unemployment that was over 10% – last month the economy added 273,000 new jobs and the unemployment rate is 3.5% the lowest in 50 years…. Bottom line the housing market is safe, stable, and secure – if you know of anyone who would like to buy, sell, or invest in real estate I would love your referral!"

Buyers in Escrow:

Call all lenders on deals that are in escrow “With the interest rates diving can we lock in a lower rate?”

If yes, you can now make the hero call to your client – “Great news just talked to your lender and interest rates have dropped – so we were able to get you locked in at a lower rate this morning. You couldn’t have timed this purchase any better.”

Buyers on the Fence:

“So you have a window of opportunity that doesn’t come along often with interest rates hitting 40 year lows. If we find something you like – you will be able to lock in an incredible rate for the next 30 years. You couldn’t have timed buying a home any better…”

Sellers on the Market:

“There is a silver lining to the coronavirus and stock market volatility – interest rates have come way down. So two advantages here – one is that buyers will be able to afford more and second when we get you in escrow you will be able to benefit on your next purchase from these low rates.”

Sellers on the Fence:

"So the housing market is still strong… and buyers are still out in force. <quote your local market stats>. Sellers that are on the market are going to have two huge benefits with this crisis - the first is that buyers will have more money to spend because of lower interest rates, second more buyers will be able to enter the market because every 1% drop in interest can add as many as 10% more buyers to the marketplace, but the most important issue is timing – when you sell – you will be able to lock your own interest rate at an eight year low… imagine having the same payment but a better house… "

Do you need more leads, more listings, more buyers, and more closings? 

About Jim Remley

Jim Remley is a nationally recognized expert in the field of residential real estate. Entering the real estate industry at the age of 19 he began an unlikely rise from college drop out to real estate Rock Star by becoming ranked in the top 1% of REALTORS® nationwide. Implementing game-changing strategies and deploying the latest technology advances Jim shattered sales records by listing over 150 properties in one twelve month period. At 24 he opened his first Real Estate Company and grew the company to 17 offices becoming the largest independent real estate company in the State of Oregon.

Today Jim leads one of the largest real estate firms in the state of Oregon with over $900 million dollars in sales volume a year with just over 160 active Brokers. As a consultant, author, speaker, and trainer Jim has one mission – to create abundance through simplicity of action. In 2018 Jim launched www.erealestatecoach.com an On-Demand Video Coaching platform designed for REALTORS to tap into highly focused information and actionable ideas based on thousands of interviews with top producers from across the country.