Brian Scott Cohen Shares 5 Tips to Help Agents Succeed in the Current Real Estate Market

Simply said, the housing market is challenging right now. Mortgage rates are higher than they have been for the last few years and there is less inventory on the market.

Let me share five tips that will differentiate you from the competition, so you can be more successful in the current real estate market.

1. Be different. Everyone is focusing on mortgage rates now.

Shift the mindset and have your clients think about how much they would be spending on rent each month. That number is most likely higher than their monthly mortgage payment AND they are contributing to their landlord’s equity.

2. Less market competition

I’ve heard insane bidding war stories due to the lack of inventory. There was a time when buyers had the luxury to look at multiple homes before they made their decision, and often offered over asking price to outbid their competition. This means the people who were outbid are back looking for a new home getting ahead of those who are waiting on the sideline to buy.

3. Having inventory is power

Simply put, there’s not a lot of inventory on the housing market right now. What does that mean for you as an agent selling real estate? There’s less choice for buyers, and if they need to move, they’re motivated to make an offer. As an agent, you can capitalize on this and work with a loan officer who can offer competitive rates and creative financing programs.

Stay with me as I share two more pieces of advice… it’ll seriously be worth it.

4. Mortgage rates are temporary. As the saying goes, “you marry the house, and you date the rate.”

Don’t only focus on the mortgage rate. You can always refinance but your dream house may not still be on the market. When I bought my first home, my rate was 5.85%* and I can candidly tell you I knew I’d eventually refinance, but was pretty content with my rate.

5. Don’t forget about the adjustable-rate mortgage options.

Adjustable rate mortgages can be at least half a point lower than fixed rates. Agents call me all the time and ask me if I can “save their deal” or ask me for a miracle. They take me through their deal, and I ask if their mortgage person has considered adjustable-rate loans and suddenly I’m a “hero”. Words of wisdom – don’t forget about the basics in this competitive environment.

And if you have any questions please contact me at (646) 584-8009 or [email protected]

Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply.

Equal Housing Lender, Brian Scott Cohen NMLS ID: 410025; OriginPoint LLC fka Guaranteed Rate Affinity, LLC (“OriginPoint”) NMLS 1598647; For licensing information visit nmlsconsumeraccess.org. Operating in the state of New York as OriginPoint LLC fka GR Affinity, LLC. Operating in the state of California as OriginPoint Lending LLC fka Guaranteed Rate Affinity, LLC.

Information provided is for educational purposes only. It should not be construed as financial or legal advice or instruction. OriginPoint does not guarantee or assume liability for the accuracy, completeness or timeliness of the information. You should conduct additional research before making any mortgage related decisions.

*not advertised rates from OriginPoint