Jeff - But they are the buyers, and the buyer has all the power in a transaction, right?! :)

Sometimes I come across this unrealistic attitude. I try to discuss the realities of real estate purchasing, but if they resist this rationale, I suggest they find another real estate professional.

Someone told them it's a buyer's market.

Well said Jeff. We must give them reality check!

Jeff,  I have had to deliver that message to buyers in buyers markets, and in sellers markets...Most of the time they actually thank me for being honest with them, and helping them to understand the market that they are trying to work within.  It also goes for sellers as well!  Have a Great Week!

Jeff, well this is a large part of the reason why we are in the mess we are in.  Buyers way over extending themselves, and even though there were some that told them along the way that they could not afford house in the price range that they wanted to buy in, the just kept on looking for those that found ways around the rules, and found away for them to purchase.

Desire often out weights common sense.

Jeff ~  So well presented -- plain speaking is certain to help Buyers and Sellers cut to the chase.  Had to lean.

Great post Jeff... I wish it weren't true but it is !!!! And it is better to hear the truth and understand it, than to get your hopes up and have the rug jerked out from under you later!

Jeff... good post... that is the biggest issue with many things, especially homes and interest rates. You just have to be realistic at times.  Maybe you need to polay this for all of your clients when you sit down with them... You can't always get what you want.. .. ;o)

Right Jeff.  They also can't offer what they want because if feels right to them. We need to set realistic expectations for our buyers and things will go so much smoother.

Setting realistic expectations is truly difficult sometimes.  I alway tell people they don't know what they want until they find out what they can have.

kk

p.s. I want that mansion on the beach...OK?

So true Jeff. We can just miraculously create a property that doesn't exist. Sometimes buyers just have to change their expectations. OR get out of the market.

Funny that you wrote this post.  I am working with a retired couple right now that just gets angry with me that I can't make the house they want magically appear at the price they want.  Whenever I send them homes that are a compromise, they get mad at me.  I have been quite upfront with them about the tradeoffs that they have to consider in order to keep it under a certain price.  But they always take their frustration out on me.  I am actually quite close to firing them.

It's harder for some people to face reality! Guess that's why we really need to ask about people's spending parameters, needs and wants and write it down. Then as we show them homes we can come back to what they've said to ask them if anything has changed.

It seems like the general public would run like a scalded dog from any hint of a financial struggle. I suppose you are right though, client might not have a clue as to what they might be able to afford or not afford.

So true Jeff! It's the reason I insist on sitting down just to talk before agreeing to do anything with a potential buyer. They need to know what's possible, what's not and I need them to know I will never promise the impossible before we start! Great points!

Hi Jeff, A Good One. Haven't we all been here a millions times or two. 

So true Jeff, unfortunately buyers sometimes have to be shown that they can't afford what they want because they just won't take our word for it.

Unfortunately there are some out there who are willing to take on a challenge and I have been verbally abused on the other end after an exhausted buyer contacts me and tells me the tale of chasing their tail in circles like a confused dog.  They don't like hearing that their scenario does NOT exist after they have already spent time and money on it with another agent.  It is quite sad and this is a great educational piece!

Jeff,

It seems that our lives contain many compromises where you kind of get what you want but not completely.

I'm adding this to my first time homebuyers class.