The One Thing Every Home Buyer Wants

By
Real Estate Agent with Howard Hanna Real Estate Services

The One Thing Every Home Buyer Wants

 

What 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. 

 

If you liked this post, please subscribe to our blog. We always appreciate having new readers and more importantly, enjoy making new friends.

If you enjoyed this article, here are some others that may interest you as well:

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Is Your Message Being Tuned Out?

Real Estate Agents Are Not Just Door Openers

Is Zillow Really Accurate? Take A Look For Yourself

 

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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.

 

Homes For Sale in Cleveland OH What's my Cleveland Home Value

 

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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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Rainmaker
491,979
Vacation Rentals The Jeff Rickert Team
RE/MAX Property Specialists - Pocono Lake, PA
Poconos Vacation Rentals

 

Thanks for the post. 

Good luck in your area.

 

 

Apr 20, 2011 02:14 AM #1
Rainer
139,717
Jeanne M. Gavish
Jeanne Gavish, Keller Williams Realty Elite Partners - Spring Hill, FL
Keller Williams Realty Elite Partners - CIPS,GRI,S

Good, sound, common sense advice. Well said.

Apr 20, 2011 02:16 AM #2
Rainmaker
277,141
Beverly Carlson
Carlson Properties 325-721-2429 - Abilene, TX
Abilene's Staging Realtor

Buyers want the most for their money, and buyers won't even look at a house they think is overpriced.  The worst thing a seller can do is expect the buyer to negotiate down.  A buyer is not going to offer on a house they haven't seen because they think it is overpriced.  The best thing a seller can do is price at a a price they would actually sell the house at .  Is that too simple or what? 

Apr 20, 2011 02:19 AM #3
Rainer
36,481
Jeffry Evans
Temple, TX

I don't think buyers are looking for value, at least it isn't their top priority. Buyers are looking for a dream, and of course, they want a dirt cheap price. Most of the time they have an unreasonable expectation, it's our job to educate and provide the closest thing possible to their dream...

Apr 20, 2011 02:32 AM #4
Ambassador
2,756,172
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Dan, You've nailed quite a few outstanding points in this one!  Sellers do need to understand equivalent homes priced lower WILL move first, and buyers need to take the opportunity to offer on homes they want.  The worst case, seller says no.  You didn't have a house before, you don't have one now, no harm, no foul, move on to the next candidate.

Apr 20, 2011 02:52 AM #5
Rainer
253,584
Kathy Burke
Sensational Home Staging~~Danville, CA - Danville, CA
S.F. East Bay Home Staging

That is sound advice.....VALUE is what we all want and something I address with Home Staging consult....show the VALUE of what your selling!

Apr 20, 2011 05:20 AM #6
Rainmaker
2,696,554
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Dan - This is great advice from all perspectives.

Apr 20, 2011 05:50 AM #7
Rainmaker
1,228,566
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Dan & Amy,

Well said in all categories.  Hopefully everyone gets the message.  If not, they loose.  I am glad you put 'testing the market' to rest.  Be realistic.  Now I need to reduce my mother's house . . .

Apr 20, 2011 01:17 PM #8
Rainer
114,235
Kim Inman
Mountains to Lakes Real Estate, Inc. - Harriman, TN
CRS, Broker/Owner

Dan & Amy...you're right on all points.  Houses are still selling in my area but most sellers are still not realistic about current property values.  No matter what comps you show to them they still think their house is more valuable than the others.  I think both buyers and sellers have got to be realistic in their approach to buy or sell.

Apr 20, 2011 03:23 PM #9
Rainmaker
301,963
Dan and Amy Schuman
Howard Hanna Real Estate Services - Solon, OH
Luxury Home Specialists

Jeff and Heather - You're very welcome and good luck to you as well.

Jeanne - Now we just need the buyers and sellers to get on the same page.

Beverly - It seems so simple but there seems to be so much fear from sellers that they are giving away money when in reality they are just losing out on the chance to sell.

Jeffry - Real buyers are looking for value, the ones looking for a steal are simply pretenders and not that motivated.

Bliz - We seem to be on the same page, now to get buyer and sellers on it...

Kathy - Home stagers like you are a very valuable tool to help sellers bring out the value in their home.

Debbie - Thank you and always appreciate you stopping by.

Mary - Thanks as always for reading and commenting. I guess it's our job as agents to clearly articulate the message so sellers understand the realities of the market and can achieve their goals.

Kim - Most sellers do feel that way about their home and the ones who sell are the small percentage that can emotionally detach themselves and view the statistics objectively.

Apr 21, 2011 03:04 AM #10
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Rainmaker
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