This week I have been contacted by seven clients and colleagues worried about how to address rising interest rates. As multiple news outlets are reporting, mortgage rates are beginning a slow climb that has put many in the home building industry into a panic.

Courtesy Myers Barnes

I calmed my callers by suggesting they address the issue by spinning it in a super-positive light: It's actually a great time to convert prospects into sales.

Most consumers and sales professionals alike may not understand the urgency of moving now before the interest rates do. However, using the example of rates increasing by merely one percentage point, you can illustrate why this is important. Tell them to consider the relationship between cost and price.

Say that the price of a home is $295,000 and is, of course, a one-time consideration and a fixed amount. However, cost is an on-going expense and can dramatically affect the final value of a home. A 1% in interest rates represents an additional $171 per month or $61,560 over the entire term of a 30-year loan. When you analyze the situation, it’s as if you can say the price of a $295,000 home will now cost $356,560 if interest rates rise by merely another percentage point.

With this information and selling strategy, you should be able to take advantage of any move the market and the economy make. Of course, the best information won’t benefit you unless you put it into application. So take this information and, if it applies to your selling situation, change your selling strategy before the interest rates do.