This is truly a crazy market. I am seeing trends that I have never seen before. I know it's a true buyer's market, but the last buyer's market, my cleints didn't seem to act the way they are now. It's not so much MY clients, but the agents who work for me.
I just wrote another post about the feedback we're getting that our listings are the buyer's "second choice", but this is what I've been seeing:
It used to be that we would take a client to see everything that looked to be a good candidate for their needs and wants. If they were REALLY lucky, we could find something within their price range that have everything they needed AND wanted, (because no matter how much a person can spend...they always want just a little bit more). Now it seems we have no shortage of things in a buyer's price range that have what they need and want, but instead of "narrowing down" the candidates as we formerly would, the list of candidates grows as we view property. So much so that the Buyers become as kids in a candy store...not able to make their choice.
There's so much available that is on the wish list!
You would think this would make buyers feel lucky and happy that they are able to finally afford all that they have wanted, but have not been able to obtain in the Seller' market, but not so. The Buyers we are seeing are just browsing around blankly...widening their list of possiblities. Anyone else seeing this? One agent in my office has shown this couple almost 40 houses and their Listing just went under contract this weekend for full price, so they have to pick something, but she's concerned about how to narrow them down.
The dream home doesn't seem enough to entice a decision in this market...
Anyone else experiencing this phenomena? I'd love to hear some "narrow down" techniques from you silver tounged angels out there! :-)