Designing and Building the Midwest the Realtor Segment with 1st Choice Realty Pros: Rising Interest Rates Part 2

So, hey, and today we are going to be talking about the rising interest rates.

Continue this conversation.

And really, Lisa, taking it from where we ended up last week on doesn't mean home prices are crashing to what should sellers be doing right now with the interest rates where they are?

They should be looking at their homes and making sure they are ready to get on the market and be talking to a realtor about timing.

They need to know the timing of everything.

Are they ready to sell now? Are they ready to sell in the spring? The pricing, the condition, and the presentation, those things are

key.

So coming into the fall months, what should sellers be really looking at? You said talking about timing and stuff.

So what does that mean, the fall months? Should they say, no, don't sell right now?

No, I wouldn't say that.

The questions are, do you have to sell fast? What are you looking for? Are you looking for a certain price? Have you already purchased a home? Are you looking to purchase a home? Is it contingent on you selling? There's several things that we can talk to them about because if they're in a hurry, then yes, let's get it on there and let's get the right price on it.

And right now it's so difficult because people are putting these, you know, we're doing market analysis on these homes.

And yes, the market is saying this price, but the buyers are looking at it at this interest rate.

It's out there.

People are getting a little worried about this interest rate, which, you know, what goes up hopefully must come down.

I'm going to say hopefully must come down.

Yes.

So there is a refi option there at some point, but they're looking at this and they're saying, yes, I see that you think that your house is worth this, but is it worth what I have to pay every month?

Correct.

So that's where it gets a little bit different because we're not saying, Mr.

Seller, your house is not worthy of that price because the market says, yes, it is.

But if you've had several showings and you're not getting anywhere... or you don't have any showings, then the buyers are watching because maybe your views on Zillow or Realtor are there, the saves are there, all of that stuff looks great.

Sellers look at that, but yet you're not getting the action that you want.

What

happens if that seller goes in and reduces that price after several weeks because they're not getting the action?