The One Thing Every Home Buyer Wants
Regardless of where they are buying or price range, every home buyer wants the same thing---VALUE! They want the most they can get for their money, the "biggest bang for their buck".
Sounds pretty basic, right? Yet buyers and sellers are still both frustrated. Buyers can't seem to find that "perfect home". Sellers aren't getting offers, and agents are often in the middle, hearing it from both sides.
Homes are still selling in almost every market. The problem is that there just aren't as many sales compared to years past.
HOW CAN WE CREATE A MARKET THAT BRINGS TOGETHER MORE SELLERS AND BUYERS?
In an effort to give the buyers what they want, here are some suggestions:
For Sellers - The easiest thing to demonstrate value to today's buyer is to make sure your home is the nicest in the price range. It's a beauty contest and a price war our there, so testing the market simply won't cut it.
While this sounds simplistic, many folks are still missing the boat here. Let's say that after reviewing statistics, 2 homes in your price range are selling per month. Therefore, logic dictates that making sure your home is the nicest in the price range would significantly increase your chances of success.
Yes sellers, I know, you have a great home and you aren't going to give it away. Remember this, if a buyer can find a similar home at a lower price, you will lose out every time.
For Buyers - Understand that you won't get everything you want, nobody does. Prices are the best they've been in generations and rates are still historically low. Basically, all homes are "on sale" and there is "value" at every turn, so quit looking for perfection and find a great home.
Also, don't get so fixated on a home's list price. Many sellers do want offers and are willing to negotiate, they just don't want to lower their price. If you find a great home but think it's just a tad overpriced, go for it. What's the worst that can happen? You will be in no worse position than when you started, and you just may be able to get the home for a price you are comfortable paying.
Let's put this another way: How would you feel if that home you fell in love with, but were afraid to make an offer, sold to someone else for a price you were willing to pay? Don't let fear get in your way.
For Agents - We can do a few things. Make sure our listings are properly priced, our buyers have realistic expectations, and be excellent communicators. We can make a world of difference in bringing parties together.
There are a lot of buyers on the sidelines, so let's show them value and move this market along.
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About The Authors:
Dan and Amy Schuman service the Cleveland, Oh metropolitan area and specialize in Cleveland luxury homes and working with buyers relocating to Cleveland.
For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235 or email.
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The One Thing Every Home Buyer Wants is the property of The Schuman Team and may not be duplicated or used without their written consent. ©April, 2011
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