When there are too many choices/options, most of us freeze into inaction.
Have you ever been to a new restaurant where as you were seated, the host handed you a 6 page menu with SO many options you just can't decide?
In such restaurants, my first thought is: "How can they do ALL of these things WELL?"
I like restaurants that specialize . . . The Thai place a block from the house - Cinco De Mayo down the street - Golden Dragon - Longhorn for steaks - Mo's for greasy and gluttonous burgers . . . Zaxby's for fried chicken, Jason's deli for sandwiches . . . Jersey Mike's for subs . . .
I'm a repeat customer at places where I KNOW what I can expect in terms of choice and quality.
Not everyone likes the places I like.
Thank goodness for that . . . else, they'd all be too busy and crowded.
Home Buyers have this same issue in most real estate markets, and they behave very similarly to the way I react to a 6 page menu in a restaurant . . . Deer in the headlights inaction.
Every day, I hear a REALTOR (or 2 or 6) beefing about the fact that they are VERY busy working with Buyers who just cannot seem to make up their minds. "It seems that NONE of these Buyers are in the mood to move quickly on ANYTHING!"
Given so many choices/options at such a wide range of pricing, OF COURSE the Buyers are being slow to act.
The pressure is on for many Buyers to "find a great deal" because everyone has told them that's the game during this downturn.
But what's a great deal?
Is it a bottom-feeder fire sale property priced significantly below the other choices . . . the one that doesn't meet all of the needs of the Buyer but is a great deal?
How much angst should a Buyer put himself through in this decision making process?
How many of his family's needs and wants will he be willing to sacrifice in order to get a great deal?
Mamma always told me: "You get what you pay for!"
Compromise your needs and wants in the purchase of a home just to get a great price, and you'll be putting yourself in the position of being less than satisfied every time you turn the key in the front door of your home . . . or when you wake up each morning . . . and if your plan is to stay in this house for 5 years or more, will it be worth this level of self-denial for a $25,000 savings that doesn't really amount to a hill of beans in a recovered market?
Making decisions simplifies when you narrow the field of options.
Narrowing the field of options means being intentional and purposeful . . .this means actually thinking through your wants and needs and ONLY CONSIDERING PROPERTIES THAT MEET THOSE SPECIFIC WANTS AND NEEDS.
If I want some great Thai food, I go to my favorite Thai restaurant . . . not the place with a 6 page menu that has a couple of "thai dishes" at a lower cost.
Once you've identified a house or 2 or 3 that meet your needs and wants . . . Negotiate like crazy and get it at a great price . . .
You'll be SO much happier every time you turn the key in the front door.
I'm just sayin'
Best,
b
twitter @barryowen
Barry Owen
Principal Real Estate Broker
Keller Williams Realty
30 Burton Hills Blvd
Nashville, TN - Green Hills
615-568-2123
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