I'm going to wait for rates to drop: mortgage sales
The short answer
Do not predict rates. Nobody can, and a guess costs you trust. Ask whether the buyer is buying or refinancing, what the deal is worth to them now, and what waiting could cost: a lost home, a changed price or a missed window. Offer a plan that works whichever way rates move.
Take this call against an AI buyerWhy buyers say it
Buyers watch rates and feel the pressure of a number they cannot control, and waiting feels like a way to get a better deal without risk. They are not saying no to you. They are trying to time something nobody can time.
How reps lose the deal on it
- They predict where rates are going. When the guess is wrong, the buyer remembers.
- They say "you can always refinance later" and stop there. The buyer hears a promise with no cost attached.
- They push the buyer to lock today. A forced lock feels like a trap, and the buyer walks.
Stronger lines to say
- “Fair, and I won’t pretend to know where rates go. Are you waiting to buy, or to refinance something you already have?”
- “Let me show you two numbers: what the payment is today, and what it would take for waiting to pay off. Then you can judge the risk.”
- “If you wait, I’ll keep your file current so you can move quickly when you decide. Does that give you what you want from waiting?”
Questions reps ask about it
Should I mention refinancing later?
Only with the costs attached. A refinance has fees and needs approval, and it is not a promise. Tell the buyer both sides: the chance of a lower payment later, and what it takes to get there.
How do I handle a buyer under contract who wants to wait?
Then waiting has a real cost. Ask about the deadline and what happens if the offer falls through. Lay out the payment today and let the buyer decide with the facts. Do not use fear.
Should I bring up a buydown or a float down option?
Only if your company offers them and you can explain the cost and the conditions in writing. Both have terms the buyer must read. Name the option, say what it costs and what it does not guarantee, and point to the disclosure. Never present either as beating the market.
Related objections
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