“I want a house just like this … but in better condition and in a better location … at the same price!”

Richard, I alwasy seem to find the buyers who expect me to wave my magic wand to find them the perfect house, east of A1A (closer to the beach) with 2500 SF, granite, stainless steel, needs no work, not a short sale, and for less than $150K!!!

Richard - good morning!  I think you have been working with one of my clients!  They are in the "wishing" stage - wanting it ALL at a cheap price!  Time to stop wishing and buy!  Have a great day!

The "I wants" and "won't pay" seem to be a hurdle for a lot of buyers.  Also the wanting to jigsaw piece - I like this house, that view and the other pool.  Yes, you can find this combination but there is a price that comes with it.  I love to receive the email - I was driving around and I liked the following list of homes - they are not for sale but could you check on them for me .. I think they look gorgeous.  Yes indeed they do .. they are about $200,000 over your price range.  I tell my unrealistic clients they have a choice - either modify their expectations or come up with more money/ability to purchase more.  When they hit their financial ceiling then there is no where to go but to realization.  Very nice discussion post Richard.

I really like your title. That about summarizes what they want.

Richard, it's not just the customer who wants that.  I do too, they'd better hope I'm tapped out because I've got dibs on those rarities too, however I'll often share them. 

The price range dictates what you get for a prize in the cracker jacks box Mr and Mrs Real Estate Buyer. Unrealistic happens more these days as the entitlement, expectations get way way more grand than the size of the wallet they sit on.  Great point Richard.

GREAT post, Richard! Direct and succinct. I love it. This is a topic I repeatedly find myself visiting. It seems like such a basic principle... Funny how it's such a challenge for so many!

What non reality area of life are these buyers living in Richard? Your explanation to them about price is the truth. Maybe they need an ecomomics class. Beverly Hills prices are not the same as rural Nebraska. What do they not understand?

We have to educate the buyers. (sigh) Sometimes this means taking them out to see endless lists of properties so they 'get it'.

Richard - Your magic wand must be in the shop!  :)

This winter, I met a client that I sold a home to in 2002. (BTW, I am still their Realtor)  

She said, "remember when you sold us this."  I said "yes."

She said, after looking at many homes, I said to you, "you don't understand, these are not the homes I am looking for!"   

Apparently I replied, "No, you don't understand, this is all you can afford."      I don't remember saying that out loud, but she did...Yikes..... Must have been at my breaking point.  

She tells me those were the words she needed to hear...They picked another town and found the home they were looking for. 

Point being... nothing changes.   :)

And sometimes the only answer is a period of education by looking at what is out there at the price point the buyers can afford til the reality starts seeping in...

My dad had a saying for this kind of a buyer.  But it wasn't very nice so i won't repeat it.

Richard ... when all else fails ... be reasonable!  That will get them every time!

I have heard this too many times. Everyone knows that Florida was hit really hard by the real estate decline and for some reason many out of state buyers think they can get homes in Florida at a 50% discount off of list price and consequently will low ball many properties before realizing that is not the best strategy.  I recently had someone from Canada want a 4-5 bedroom home, newer construction, granite in gated community under $100,000.  That just does not exist anywhere that I know of. 

I think people have some unreasonable expectations about what their money can buy.  It's often very disappointing to them when they head out looking for the first time.

Amazing how it is always the case - more for less! Buying a house is like shopping for steak...can't get burger for filet mignon prices!

Richard, you hit this one right in the bulls eye.  I cant recall how often we've heard this.  And, so many just don't understand why the one in the better location, in better shape will cost money!