I was talking with an associate in my office today and we were discussing buyers. For some of us, these people are a precious commodity, so when we get one, we work with them. She told me that after showing this couple 53 homes they finally selected one and put an offer in on it! I thought, wow, 53 homes! She also told me that they were CASH buyers. What does this say to real estate professionals?

My experience lately has been that buyers are waiting in the wings while this real estate in Southwest Florida is balancing. When things cooled last year and interest rates for homes climbed a bit and the Federal Reserve increased the reserve rate 17 times in a year, potential buyers put on their thinking caps.

My take on this is that the buyer of today and perhaps tomorrow is:

1) Looking for value.

2) Expecting exceptional service from everyone connected with the real estate transaction.

3) Prepared to pay cash or put down a substantial sum of cash for a downpayment.

4) Buyers want the best home for the best deal. For example, I have had people arrive with $100,000 for a downpayment. (In in my area, this is substantial.) They want to look at homes that have many upgrades and have been slashed a great deal. I am working with buyers who have $100,000 for the down; they are looking at at $450,000 home; and they want to offer about $395,000. That means their mortgage would be  $295,000, which would be much more affordable than if they had a smaller downpayment.

5) I do have some first-time buyers looking for 100 percent financing, but even these people realize that they need to up their credit scores to get the best rates in the long haul.

Basically, I think today's real estate agents will have to work a lot harder for the commission they earn. And, believe me I now how hard we all work for your paycheck, so the last thing I ever do is agree to take a smaller commission. It costs us more to sell a property today than it ever did, so the seller and buyers need to understand this.

6) Buyers want a fair deal, so if sellers understand that negotiations are in order everyone can win during the rebalancing act of 2007.