One of the challenges both buyers and buyer's agents face today is determining what price to offer on a property.  As an agent we want to get the best deal possible for our client and the buyer feels the same.  The problem is both the agent and the buyer can't be right!  Buyers watch TV, read the paper and think they have all the info they need to get that best deal.  But what happens when they have written 20 offers and not been sucessful in getting an offer accepted?  Perhaps we did a poor job of setting expectations.

Our job as agents is to help our client get what they tell us they want.  The question is, "What do they really want?"  They tell us they want a deal yet we don't help them understand the realities of the market.  "Mr. Buyer, this house is listed for $275,000, it sold for $418,000 3 years ago...that's a deal!  Let's look at the recent comparable sales in the area, see how prices are here?  If you want this home you need to write $10,000 over."  There is no reason they have to write 20 offers!  Write one really good offer and get into escrow!

Using comps is the most powerful way to help your buyer understand the market.  Just as you would review comps with a seller, you must do the same with buyers.  This is the most powerful method to help your buyers know what is happeneing and set you up as the agent to help them.  Use testimonials from recent buyers to make your point.  Let others tell their story to reinforce what you are telling them.  Know your market.  What are the best deals?  What is the market time, average price, declining areas, improving areas, other top agents that work there.  Knowing the in's an out's of your local market will help you impart information that allows buyers to make the best decisions...and make them sooner.