Do new home products make our buyers look "not so smart?"

By
Real Estate Agent with Jeff Fritzson Real Estate, Ebby Halliday Realtors 0629874

In my sales career I have heard it said many times that buyers don’t really know what they want until they see it. My thought is that buyers probably know what they want based on what they know. The problem may really be that they see the new designs, technology, products and services that are changing so rapidly that these new features change their requirements.  All buyers go through the same states or phases regardless of what they buy (different blog topic.) In real estate, because of the massive changes that we as agents/brokers see on an almost  daily basis, we start to think our buyers are  aware of what is now available to them at reasonable (well sometimes) costs. However, when a buyer sees these new features, they can often change their minds about their requirements.

Think about it for a second. Don’t the majority of residential home searches reach at some point a solution where the buyer finds 90% of all their requirements for about 110% of their budget (or somewhere close to that.) A buyer goes back and forth between re-prioritizing their requirements and searching for the right home (two of the states all buyers go through.) This is where we start to think they don’t know what they want.

It is the opening of their minds to these new and sometimes improved features homes can offer that causes buyers to envision a different solution than the one they thought they wanted originally. For example, in Frisco Texas, many master baths in the mid-market no longer have bathtubs. Many have gone to expanded showers. New families are finding it fun to have the bigger showers so they can get their little ones into a shower together to clean them off at once (just one reason I have seen.)

Twenty years ago Corian was pretty hot in the market. Then granite made a bigger splash and now natural quartz like Silestone is big because it doesn’t need to be sealed and also  collects no bacteria. This barely scratches the surface (couldn’t help myself) No matter how well you question a client, sometimes it takes seeing, hearing or feeling a new feature that will change their requirements.

 

Changing requirements may be a sign that a buyer does not know what they want but often when it involves products that they don’t buy often, they just never knew what was available What’s the difference, it’s all about them anyway.

Comments (3)

Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Jeff,  When money is not an issue for buyers (and it almost always is) they still sometimes may not know what they want. New products are something I feel we all want.  Changing our minds about features may be driven by the price we need to pay to get them.  A great agent will guide buyers through the process of features, benefits and costs. Only then can the narrow down what is most important to them.  

I enjoy reading your posts.  Keep up the great work. I am sensing you will be a major contributor to this amazing community. 

Welcome to ActiveRain! 

Nov 17, 2013 10:58 AM
Charles Buell
Charles Buell Inspections Inc. - Seattle, WA
Seattle Home Inspector

Jeff, as a builder I had the same issue when designing homes with people.  Prior to building they were limited by what they were used to as a "renter."  When faced with choices about "everything" they often found it overwhelming and relied on my experience to guide them through the myriad of choices.  Sometimes it was more like being a marriage counselor than a house designer

Nov 17, 2013 12:21 PM
Jeff Fritzson: Frisco Real Estate Pro
Jeff Fritzson Real Estate, Ebby Halliday Realtors - Frisco, TX
Your Success is My Focus!

Hi Kathleen - price is always an issue. It is important to provide feedback to buyers about what they are going to spend perhaps on upgrades when buying a new house or when a preowned home may be overbuilt. The difference in their cost basis when they go to sell their home could become a negative factor. I think you say it very well and concise whenyou say, "A great agent will guide buyers through the process of features, benefits and costs." THank you for the feedback.

HI Charles - i can easily see a builder counseling their clients. Luckily for me my wife can easily sort through choices very quickly and more importantly I agree with her choices more than 95% of the time. A first time home builder could easily become overwhelmed and find themselve well over budget id they are not careful. Thanks for the feedback expecially from a different perspective. 

Nov 17, 2013 10:27 PM

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