WHAT BUYERS WANT ARE SCREAMING DEALS
When it comes to Real Estate sales most buyers want screaming deals but they are not willing to pay full price; therefore, when an offer comes in, the Seller needs to be prepared before they put their homes up for sale to negotiate without losing the sale.
The inspiration for this post came while shopping around Dallas. This poster at Natural Foods grabbed my attention and caused me to pull over and park my car. I wasn't even prepared to buy groceries; but the owners curb appeal and the marketing piece, "Screaming Dealings" hooked me in like a fish out of water! What was I feeling?
What I saw was above average prices than my local grocers. As I maneuvered through the store here's what I found:
Things of Interest
Friendly Sales People
If there were bargains or "Screaming Deals" to be found, I didn't see any; yet my mindset was already made up and I made a purchase without haggling or demanding lower prices. I noticed other people in line were doing the same thing. This was a business; not a Flea Market.
The process of buying and selling a home is similar, except negotiations are part of the norm and an expectation. Buyers want a "Screaming Deal." Whether they are in the market to buy or not, people are curious and they get excited when there is something interesting to see and it's being offered for sale. What do sellers need to know?
When people buy there are three types of buyers:
Buyers With Credit
Looky Loos are curious people looking for "Screaming Deals." Some are just as interesting to the Real Estate Agent as to the Seller. An Agent doesn't want to waste their time with Looky Loos or people who can't afford to buy. They should have representation and know what the buyer is financially capable of buying. Sellers need to know, that just like the grocer, a Real Estate Agent is powerless when it comes to other peoples money. If a lender is involved, it's the lender's job to uncover the truth through the processor and the underwriter's investigation after there is an executed contract. An agent goes by what is on the pre-approval letter and listens to the client's needs.
Cash Buyers play by the rules of discipline. They operate within a budget. They know how much they can spend, goal oriented, time driven, and they spend wisely. Investors are always on the look out for "Screaming Deals!"
Buyers needing credit typically start out the process of buying a home asking the Real Estate Agent for a fixer upper; they express an interest in more than they can afford because they want a "Screaming Deal." Others may start out with a very low price range with a list of luxury home features. Working with the Buyer's Lender is critical for the Real Estate Agent to get the right answers about affordability.
Working with Buyers with the ability to buy on credit is a lot like what Forest Gump's mama always said, "Life is like a box of chocolates, you never know what you're going to get." For example, more than ten years ago, I had a buyer who claimed to be on a very strict budget in the $100,000 to $150,000 range. She wanted a "Screaming Deal."
This screaming deal occurred more than ten years ago and I was the one left screaming. What the buyer ended up buying was a $350,000 home with a pool in a very luxurious neighborhood. After closing, she purchased (paying cash) a brand new sports car, and all new furniture. But, at the closing table she asked me to refund her the commission fee because she found the house. Seriously, she told me she just let me negotiate the deal and write up the offer and even though she appreciated the number of hours I spent working with her, and everything else I did, she felt I needed to give her my money because she found the house on the Internet.
What's the best advice I can give to a Seller who lists with me?
- Know that all buyers are looking for a "Screaming Deal," and I am a certified Negotiations Expert. Grocers don't give away their merchandise for free. Neither do Sellers; neither do I.
- Buyers want quality. Things shouldn't be falling apart or in obvious need of repair. A pre-inspection from a credible Home Inspector is wise, especially if the seller hasn't been faithful to home maintenance.
- The best way a Seller can get their home sold is by hiring a an Agent and sign a listing agreement. I am an experienced and knowledgeable who uses best practices with proven marketing and negotiating skills and techniques.
- A home sells best when it is exceptionally clean and safe for other people to view and inspect for an offer and a successful closing.
In sum what do Buyers want?
Friendly People to Work With
Whether you're in the market to buy or sell now or planning to do so in 2015, let's get started on the right marketing plan that works best for you.
©Patricia Feager 11/26/2014