-
Quick Tour
Connect. Share. Learn.Welcome to ActiveRain, the #1 social community for real estate professionals.- Explore the world's largest storehouse of real estate knowledge
- Access free training on ActiveRain University
- Share the experience of life in the real estate industry
- Grow your business through real estate blogging
- Blogs
-
Resources
Product Reviews Curious as to what others in your profession think about a certain product or tool? AR's community takes the time to leave honest and transparent reviews of their experiences so you can be a bit wiser about your purchase.
- Broken down by categories and subcategories for easy finds
- Get an unfiltered look at what real users are saying
- Leave a review yourself for others to benefit from
- Add new products as you use them and gain points for doing so
|
;)
;)
;)
Find MN real estate agents and North Branch real estate on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2013 ActiveRain Corp. All Rights Reserved
25 Comments on Some things never change!
The media has helped to create this mentality....all the "buyer's market" hoopla. In our area there are not that many foreclosures/short sales, nor are there very many highly motivated sellers. We are a fairly rural area and most people are not selling quickly to take another job somewhere.
William: Buyers with unreasonable expectations certainly are legion these days.
You made a good business decision- knowing your numbers and sticking to your guns saves both youi and the "buyer" a lot of wasted time. We all run into them, and knowing when to reset the reality meter saves a lot of gas! Bravo!
Bill, no matter how many times I tell a buyer that these are the comps...and the seller is going to know them too, I still get "but we should be able to get a great deal in this market - the news is saying that every day".
Just because someone got a once in a lifetime deal 2 years ago...all deals are still like that, in many peoples mind.
the attitude of the lady was different than the husbands. They need to decide how to proceed before I do.
William,
It's a challenge when buyers come into the process thinking they can pick the price they are going to pay for a home out-of-thin-air. You obviously have their trust otherwise they wouldn't have signed the buyer's agency agreement with you. Now they have to trust that what you're saying about the market is true (for them).
Good Fishing,
Steve
Bill - Yes we wear many hats in this business and that of marriage counseling is one that often falls on us. Not that this couple needed that but they do need to get on the same page... Good luck
Bill, We talked about this at our last meeting...when will people get real!
This sounds very familar to me as well. Yes, it's still a Buyer's market in many parrts of the country, but List-Pricing already reflects that fact in the vast majority of the cases.
At the initial buyer consultation, after we have discussed what they are qualified/pre-approved for and have determined their wants and needs, and BEFORE I show a single property, I ask: "May we agree that we will only look at homes that are listed at no more than 10% above your price range?" This opens the door to any dialog regarding their perceptions and expectations; I am able to better understand their motivation as a result.
Thanks for the post!
William I am impressed that have held your ground!! Great job and an example for all Realtors!!!
People watch way too many advertorials and read way too many stories about the 'get rich quick' guys who find surreal deals. It becomes flat-out tiresome, and I admire your willingness to unload this buyer. I believe it will open yourself up to the next opportunity (which will probably go much easier because you made the space in your life for it).
And. . . you GO with your bad self and that buyer-broker agreement! Wish I had the hutspah to get my clients to sign one. Perhaps hanging around ActiveRain will give me that dose of courage I need. . .
I agree with Cece's comment above: the media are portraying the real estate market as rich for the pickings. I have seen instances of $1.25M homes selling for $795K cash, however, this is NOT the standard. Also, may foreclosure/short sale buyer prospects seem to think they can write offers for 50% of list which is not realistic. I remind my buyers constantly a well priced, well presented home will sell for at least 90% of list, and if that is the house they want, they are best served to write an offer of 92% of list or better.
William, That was the best thing you could do, "We have to step back and not look at home that you don't qualify for" To many times, I have a purchase agreement come in that could be more the 20% higher than I told them they were qualified for.
William - Good for you for trying to shed some light on the "dark side".
SOME BUYERS!!!!!!!!!!!!!!!!!!!!!!! GET A CLUE PEOPLE, YOU CANT GET A HOUSE THAT YOU CANT AFFORD TO MAKE THE PAYMENT.
This seems to be the way on the buying side. If they were selling they would list too high and state that their not going to give their house away!
Congratulations on not letting them have you drive them all over the place. You did a great job in taking control of the situation.
I don't understand people's logic sometimes. Do they really think sellersare going to give away their homes just for them. When I went looking for a home I looked UNDER what I pre-qualified for. I didn't want to be house poor.