l showed a home to a client referral I received from Movoto, and during the showing I asked the potential buyer if he had been working with any other agents. He said, "Well yes, but I don't care who finds me a home, because the agent does not matter".
I wasn't going to argue with this fresh off the shelf internet lead, so I simply smiled and kept asking him questions about what kind of home he was looking for and he told me another earth shattering comment that that is oh so typical of the uneducated buyer. "I know what these homes are selling for and this one should be priced $50,000 less". Of course, he had been looking at home sales on public sites that add the "Trustees Deed recordings", into the equation with other sales, without calculating the back taxes that the new buyer had to pay or the back HOA dues that the new buyer had to pay.
Eventually, it was time to go and I had weak hopes of connecting with this buyer due to all of his misconceptions but I gave it a try.
Two days later there is an urgent message from Movoto that the same client has an inquiry. I call the client and ask how I can help, he blurts out, "I don't know why my agent cannot find me a house". I said, "I'm going to tell you why. Your agent does not want to tell you that you are looking at homes in a price range higher than you want to pay or can afford. You are NOT going to get a $50,000 discount in this market. The homes you are looking at are selling within a small margin of the listing price not a huge margin like you think. Your current agent just does not want to tell you to look at homes in your price range."
(There was complete silence on the end of the phone. I told him I would send some listings that fit his search criteria but were slightly less expensive. I don't know if I will hear back but if I do it means he believed me and it's better to tell the truth to a perspective buyer than to let them keep their misconceptions).
Every market is different and it's really beneficial to look at "Recent Sold Comparables", before attempting to try to figure out what is fair market value and what is not!
Trying to buy a home thnking that they are all overpriced without reallly knowing what sales prices are just is not realistic.
Buyers should find an agent who belongs to the Multiple Listing Service and look closely at recent sold comparables to see what homes are really selling for.
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Jane Grant Real Estate Broker in Temecula, California, DRE#01109492
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