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Buyers are Babies!

By
Real Estate Agent with Associate Broker, Momentum Realty

Okay, I admit to using a catchy title to get you to read this because I have noticed a shift in buyer thinking that concerns me. If you are a buyer, a seller, or someone that works with either, please read on...

Yes, I am an Accredited Buyers Representative, and I work really hard for my buyers, but honestly Buyers of The World, it is time to realize that you are buying a house, not a custom made, one-of a kind piece of art.  Sure, you might have high expectations, and I believe we all should. But at what point do our high expectations
crying babycripple our ability to make a decision?

A friend and colleague of mine came over this morning for coffee. We hadn't caught up in a while and I wanted to hear how her business was going. She had just left the showing of a home that her buyer had rejected because the ceiling was dirty.  It was a popcorn-style ceiling (which I have had plenty of buyers reject), but that wasn't the issue. The issue was that it appeared not to have been dusted lately and there was a sort of gray shadow where the dust had built up.  Of course, my friend offered the quick, easy, and INEXPENSIVE solution of having it painted and Buyer said no, she was looking for something cleaner. Mind you, this house was priced very competitively.

Back in the hey-day, dirt was a non-issue...along with inspections, conveyances and everything else that we regularly put into purchase contracts. That wasn't so good either. There is nothing wrong with a buyer asking a seller to get their house in order, literally. A clean house is always easier to sell, and certainly easier to buy.

But what happened to buying a well-priced home that requires a little bit of personalization or updating? Didn't buyers used to be better at seeing the possibilities and writing the contract accordingly? You thought the house needed to be painted, so you factored that into the offer price. You thought the carpet was beyond its useful life so you asked for either replacement or credit for new carpeting? I remember when a house not having hardwood was hardly a show stopper. Now days buyers act insulted if a seller offers a home with carpet in the family room. Or worse yet, they reject it outright rather than getting an estimate to see how much it would cost to install wood floors. What happened to the creativity? Didn't we used to compensate for buyer issues with the numbers in the contract--rather than rejecting the house out of hand for minor problems?

Is it all of these television shows that show the public how easy buying can be? Wrap it up in an hour after viewing 3 homes?  Those homes don't always seem perfect and it looks like the purchasers often need to compromise. I'm not sure where this expectation of perfection has come from.

If you are considering a purchase, please keep in mind that unless you are building a home from scratch (and believe me, that will require its own list of compromises), you are likely buying a well-loved, well-lived in homePerfection is in the eye of the beholder. You can make the choice to see a home with all of its possibilities (does it have good bones? does it flow the way that best suits your lifestyle?) or with all of its faults (carpet is dirty, paint needs to be refreshed, you don't like white appliances). Please know that I am not encouraging you to buy something that doesn't meet your needs, but most homes are not turn-key (even if they might appear to be at first glance).

Buyers, if you can remain open to the possibilities  you might be surprised at how perfect--for you-- that dated home can be!

 

 

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Comments(91)

Annie Holdreith
Daniel Gale Sotheby's International/Manhasset, New York - Manhasset, NY

Holly

Great title...i couldn't agree more.  This market brings out a picky buyer...a buyer who sat out during the escalating market.  These are cautious people who like to pick and pick.  They are scared to make the wrong decision, they operate from fear.  They fear that what they are buying will be worth less next year than now.  You have to hold their hands every step of the way.  

I also agree with Carla at comment #18.  It isn't necessarily about the popcorn ceiling.  Buyers who pick apart a house sometimes just aren't ready to buy.  If the house meets most of their criteria and those objections come up,go back to setting up a resolution and then asking them a question...like this:  Give them the estimate of what it will cost to remove the popcorn ceiling.  Then ask them if they  deduct that from the price, are they ready to make an offer?  If they throw up something else that is wrong with the house, then pull back.  You have a trust issue...they can trus the process usually not you.  Give them some space and then next time you go out meet at the office and go through their wish list again.  Get agreement on the wants and agreement that no house will have it all.  Get agreement that they will offer on homes that meet the bulk of their criteria.  Patience, patience patience!

They have to get over their fear, once they do(some don't) they stop picking at what is wrong and start looking at what is right with a home!  

 

Feb 24, 2011 11:58 AM
Jirius Isaac
Isaac Real Estate &TriStar Mortgage - Kenmore, WA
Real Estate & loans in Kenmore, WA

I could  not agree with you more.  They seem to be getting more and more particulare by the day.  I will be glad when we get back to a normal market, whatever that is.

Feb 24, 2011 12:50 PM
Brenda, Ron, Lee Cunningham & Tara Keator
West USA Realty - Phoenix, AZ
Realtors, Homes for Sale - Phoenix Metro

So true!  Some buyers just don't have clear vision.  They also don't understand that a new build is missing many features a seasoned home has.  And having my buyers do a home inspection on the new there are many items of needed repairs that are missed.  One inspection our buyers had done on a home that was ready to close had 18 items which included a cracked truss. 

Backyard landscaping and hardscaping, and future upgrades can often be much more expensive that having some of the items done to the used home.  There is something for everyone.  Including having the "popcorn ceilings" removed and a finish coat to match the walls done

Feb 24, 2011 01:42 PM
Chuck Gollay
Exit Realty Paramount - Traverse City, MI

"...but at what point do our high expectations cripple our ability to make a decision?"  That is an exceptionally good question, and if I may, I'd like to borrow it to use with some of my buyers.  One couple in particular has such high and unrealistic expactations that they have made virtually no progress despite two years worth of actively searching.  Can all those homes they've rejected been that bad and that overpriced?  Of course not.  The issues lie not with the houses, but with their expectations.

Thank you for creating the words that I have been searching for to present to these feet-dragging buyers.  

Feb 24, 2011 02:28 PM
Suzi Sandore
RealtyONEGroup - San Diego, CA
North County San Diego Homes

I try to get my clients to see the value in a well priced house that needs some updating over the updated (and usually overpriced) house by telling them they can choose to put in the new floors, paint, and fixtures that they like, not have to pay for what someone else chose to put in. Some clients have the vision to see the value in that, some just don't want to be bothered, and like you said Holly, they just want it to be perfect.

Feb 24, 2011 03:54 PM
Dorte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Holly,

People, who were always told to color within the lines, when they were young, may not be able to think outside the box, as they get older.

Feb 24, 2011 04:07 PM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

I toured a home once that had that sharp popcorn on the walls. I tried to stay in the middle of rooms - could just see that stuff ripping the skin off my elbows!

Back when I was selling I had a customer who went on a search every year. He was an engineer and he had a list - a long list - of what a house needed. Sometimes he'd mention a house he "should" have bought, but he never did. Since then he has married and now has 2 children in school, and they're still renting.

Feb 24, 2011 04:09 PM
Laura J. Lycans
Sandhills Choice Realty, LLC - Southern Pines, NC
Your Dream + My Passion = Success!!

Very well put!! I am seeing the same as you knit picking a home over little things. There is no such thing as perfect. GREAT Post!

Feb 24, 2011 08:40 PM
Sylvie Stuart
Realty One Group Mountain Desert 928-600-2765 - Flagstaff, AZ
Home Buying, Home Selling and Investment - Flagsta

I completely agree. Most buyers are getting to the unrealistic point and trying to low ball so much on already well priced homes siting everything but the kitchen sink. But there are the serious buyers that have vision, and still get great deals, but also get the house. Thanks!

Feb 25, 2011 02:11 AM
Jennifer Kirby
Kirby Fine Homes - Minneapolis, MN
The Luxury Agent

I specialize in historic homes and just love the buyers who want an older home, but then complain about the condition when they view them. Um, older homes always need something fixed....

Feb 25, 2011 02:11 AM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Amen, I agree with you about the unrealistic expectations of buyers. My one buyer said there had to be something wrong with the windows in a foreclosure because there were flies dead on the kitchen floor. NO, I replied, the fact that it's been vacant on the market for the the entire foreclosure process is the problem. I really had to have a serious talk with him about his ridiculous thinking.

Feb 25, 2011 03:35 AM
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

Floor plan, lot, location are all the big issues.  Most other stuff can be fixed.  However, some buyers do not have the cash to fix stuff up after buying and need to buy something they can move into and live.

Feb 25, 2011 06:24 AM
DeeDee Riley
Lyon Real Estate - El Dorado Hills CA - El Dorado Hills, CA
Realtor - El Dorado Hills & the Surrounding Areas

Hi Holly - Luckily I have not had such picky buyers.  Not sure if it is just the low inventory or what but I would feel the same as you if I had to deal with buyers like that!!!! 

Feb 26, 2011 02:30 PM
Jenny Durling
L.A. Property Solutions - Los Angeles, CA
For Los Angeles real estate help 213-215-4758

Great post- I think alot of this attitude has to do with the age of the buyers. I see it more in younger clients. Perhaps it has something to do with how different generations have been raised.  Also, the more properties that are available, the more picky they feel they can be.

Feb 27, 2011 10:00 AM
Chris Wechner
CW Health Inc - Waterford, MI

Most likely, this comes from a buyer who has not bought in a while.  If he or she has bought recently, this person likely does not understand value.

We see the same thing with investors.  Many new investors make the mistake of only seeing what is in front of them instead of the potential within the property.  That is exactly where you find your value, and if you're an investor, that is exactly where you can find your profit opportunity.

The reason good investors make money is that they see opportunity where others do not.

It seems to me that your buyer is one of the rest, instead of one of the best.

Mar 01, 2011 08:06 AM
Tricia DeSouza
HomeSmart - Scottsdale, AZ
Selling Scottsdale Luxury

Can't believe I missed this post. Well said!

Mar 04, 2011 09:58 AM
David O'Doherty
Clayton, NC
Clayton NC Homes, Raleigh, NC

The nerve of them putting their house on the market without upgrading it for me!!

Mar 04, 2011 10:30 AM
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Holly, there are just too many houses on the market - buyers are definitely spoiled.

Mar 04, 2011 04:13 PM
Jayson Hoffer
Jayson Hoffer Insurance Agency Inc. - Tempe, AZ
Mesa AZ 480-948-6115 Home, Auto, Life Insurance

Great post - You mean I can't leave my home in shambles. I thought the smell of wet dog was a buying sensation, i just love the thought of wet dog and a dirty home.... you get the point great blog

 

 

Mar 05, 2011 06:25 AM
Karen Steed
Tallapoosa, Bremen, Waco, Buchanan, Temple, Carrollton - Tallapoosa, GA
Associate Broker Haralson Realty
Great points. When we bought our first home, the roof leaked, the heating system did not work, the water heater went out about 2 weeks after closing, and we probably paid a little to much. But, we bought with no money down, we could easily afford the payment, and we were willing to do the repairs ourselves. We were just happy to have a place to call our own!
Mar 05, 2011 05:03 PM