Episode 089 - What Happened to Your Equity?
Equity will be a huge concern for homeowners in the coming years. Buying at the top of the market may get you in a house today, but what will that mean for you in the long-term? There are strategies to consider based upon a client’s situation, needs, and financial expectations. As an agent, it would be wise to help manage those expectations to avoid the peril that many agents put their clients in during the 2008-2009 Recession.
SHOW NOTES
- 01:30 – Some markets are stabilizing and/or decreasing. What are you doing to help your clients protect their equity?
- 03:00 – Equity looks nice on paper, but only matters when an owner is selling or refinancing their home. Down the road, it may not be as nice.
- 04:35 – Economic cycles cannot be avoided. The market will have a correction and decline.
- 05:30 – Reasons to consider purchasing at a higher price based upon possible increasing interest rates.
- 07:55 – Other reasons to consider purchasing a higher price: currently renting.
- 09:05 – Home purchase is very emotional. Help the client make a decision based upon economics.
- 10:55 – No one can escape the economic cycle. Be an advocate for your client.
- 11:20 – Don’t count on the appraiser or lender to take the ride.
- 12:40 – Many agents do not have this discussion with the clients and their clients felt that pain.
SHOW LINKS
BETWEEN THE LINES LINKS
Email
brian@brianclee.com
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