Needy Home Buyer or Just Getting What is Needed and Expected?

By
Real Estate Agent with Solutions Real Estate CA DRE #01490977

What Buyers Need and Should Expect!

 

Or are They Just Needy?

 

In our busy and competitive Carlsbad seller’s market, buyers have some challenges in purchasing a home in many price ranges. Limited inventory and high demand create a perfect storm for fast-moving, multiple bid situations for many homes, where only 1 buyer among many is destined to win.

 

It’s an emotional time, and it’s easy to feel anxious and get frustrated, especially when you lose out on a wonderful home, or see things moving so quickly.

 

Looking online for homesWHAT BUYERS MUST DO 

Buyers must act quickly when there is a new home on the market and decide if it’s right for them, and then get in to see it as fast as possible. They must also be prepared to make an offer right away, rather than sleeping on it or thinking for a few days. That also means being financially prepared with an updated pre-approval in hand.

 

The nature of this market leads to all sorts of questions buyers might ask – how many offers are there? Will they get multiple offers? What should I offer? Should I offer asking or higher? Will I get a counter offer? Should I go in with my best offer or leave room to negotiate? Can I think about it, and for how long?

 

There will likely also be requests to see homes as quickly as possible, with limited notice, or repeated calls to see if anything new has come on the market, or if the home that they lost out on is still in escrow.

 

Buyer HandbookBuyers might feel very needy, or perhaps even have pangs of guilt that they are bothering their Realtor with too many questions. I’ve had a couple of buyers express this in one way or another.

 

My response? No, you are not being needy. You are doing what you should, and need, to do so that you can hopefully be successful. It's how you buy a home!

 

Personally I’d rather work with buyers who are dedicated to the home buying process, ask lots of questions, want to understand the market conditions and they mean, watch for new listings like hawks, and take steps to move quickly so they get the house they want, rather than being lackadaisical about even in the face of saying they want to buy.

 

WHAT BUYERS SHOULD EXPECT 

So what IS needed, and should be expected, as a buyer in this competitive market?

 

Communication is paramount – ongoing, regular, honest, clear, and prompt. You have questions, I have answers, or will get them for you.

Responsiveness – especially when respond to questions, and to request for showings on a hot property.

Knowledge of the local market conditions – what are the factors that are going to affect your offer amount, offer strategy, and the likely outcome.

Make the right offerTrust – buyers need to feel they can trust what we are telling them, and the advice we are giving. Yes, they need to make the decisions, but how can they without trusting they are getting the information needed to make an informed decision?

Knowing that we care – today’s buyers need to feel we care about their situation, and how they are feeling, and we understand the concerns they have. It’s all about them, not us, and they should feel that in a powerful way.

Competence and expertise – they should expect, and receive, the best we can offer in terms of what we know about pricing, offer strategies, negotiations, and ways to solve problems.

 

Is this being needy? Heck no. It’s what needs to be done these days in many markets to be successful. Plus it’s what we are supposed to do for buyer clients. They have needs and expectations, and we should exceed them.

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Topic:
Home Buying
Location:
California San Diego County Carlsbad
Groups:
1st Time Buyers
CALIFORNIA REAL ESTATE
SAN DIEGO Real Estate Agents & Loan Officers
First Time Homebuyer
Advice for Buyers
Tags:
professionalism
sellers market
how to buy a house
how to buy a home
advice for buyers
agents

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Rainmaker
2,250,289
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Jeff. You shared lots of insight, hopefully your clients appreciate your knowledge and experience, they should for sure.

Apr 21, 2016 08:33 PM #22
Rainer
514,981
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Thanks for sharing!!!

I’d rather work with buyers who are dedicated to the home buying process, ask lots of questions, want to understand the market conditions and they mean, watch for new listings like hawks, and take steps to move quickly so they get the house they want, rather than being lackadaisical about even in the face of saying they want to buy.

Apr 21, 2016 09:07 PM #23
Rainmaker
3,160,860
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

Seems buyers need to be ready, willing and able to buy in your market. Being by their side through the entire transaction is what makes a Realtor go from good to great!

Apr 21, 2016 09:27 PM #24
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Jeff, I agree, I rather have buyers tell me right away they are interested in a home rather than waiting a day. It can make the difference between securing that home or themselves or having to keep looking. 

Apr 21, 2016 09:50 PM #25
Rainmaker
2,447,016
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Every home or property I have ever bought was purchased. I never once considered anyone else wanting or getting it. Why? I had tunnel vision and this belief that said it was mine and I acted accordingly. If you want it, go get it!

Apr 21, 2016 11:42 PM #26
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Laura Cerrano 

Agreed. And I think most agents do go above and beyond to help their buyers

Jeff

Apr 22, 2016 12:27 AM #27
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Thanks Roger D. Mucci 

Things are moving pretty fast and buyers need a quick education. Sadly sometimes event the best efforts are not good enough

Jeff

Apr 22, 2016 12:28 AM #28
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Joe Petrowsky 

Thanks for the compliment. I have had a bunch of buyers in multiple-bid situations so far this year, and many have not be successful right away. We all learn by doing

Have a great weekend

Jeff

Apr 22, 2016 12:30 AM #29
Rainmaker
186,422
Kathy Smiley
Rodeo Realty ~ Fine Estates Westlake Village - Westlake Village, CA
Westlake Village, CA - "Making YOU Smile!"

Great points, Jeff. Another good reason every buyer should work with a dedicated agent and not just ramble around aimlessly to every open house by themselves!

Apr 22, 2016 01:07 AM #30
Rainmaker
2,783,495
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Excellent post, Jeff. 

There is so much more to home buyer than finding a home and making an offer. Buyers need a professional agent who knows the local market and the market conditions. From there, buyers get the education and guidance they need to make informed buying decisions and of course be prepared to make an offer when they do find a home that works for them.

Apr 22, 2016 01:22 AM #31
Rainmaker
2,107,894
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Excellent information!  Congrats on the very worthy Feature!

Apr 22, 2016 01:33 AM #32
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Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Local Expert!" 503-755-2905

Jeff, in Portland things are so crazy like this that I would wonderf about my sanity as a realtor. My bestfriend is a realtor in Portland and they're pushing HARD, 40-50K over asking price, waiving inspections, appraisals....it's nuts. Good for you for keeping your wits about you when all are losing theirs!

Apr 22, 2016 01:33 AM #33
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Sham Reddy  - thanks for stopping by to read and comment

Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c)  - they definitely must act quickly. And sometimes even the best efforts are not enough 

Jeff

Apr 22, 2016 08:42 AM #34
Rainmaker
2,704,764
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Another great post Jeff Dowler CRS, congratulations on the Feature.  Buyers can get frustrated, especially during a seller's market.

Apr 22, 2016 01:06 PM #35
Rainmaker
3,240,639
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Great explanation Jeff Dowler CRS  of what Buyers not only should expect...but deserve in terms of levels of service.

Apr 22, 2016 05:44 PM #36
Rainmaker
3,799,098
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Jeff Dowler CRS ,

Another timely featured post..well deserved! It is a frustrating time out there for buyers in our market place...buyers need to be educated and guided by there Realtor..so much more than just finding the home and writing an offer. Even the best efforts won't guarantee success in this crazy sellers market.

Apr 22, 2016 10:05 PM #37
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c) 

Yes, in our crazy market buyers need lots of guidance in order to be successful. 

Jeff

Apr 23, 2016 03:36 AM #38
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Silvia Dukes PA, REALTOR, CRS, CIPS, SRES 

Gone are the days, at least for now, that buyers can wait days before deciding they want to see a house and going to see it, if they are serious.

Jeff

Apr 23, 2016 03:37 AM #39
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Richie Alan Naggar 

You certainly had the right attitude when buying your homes. Sadly, for some in our market that attitude is just not enough for some properties. But keep in the right spirit and frame of mind is important, even when frustration sets in

Jeff

Apr 24, 2016 07:43 AM #40
Rainmaker
57,115
Peter Tamura
Coldwell Banker Select - Tulsa, OK
BANNOCHIE TEAM

Hi Jeff,

 

Different market here in Tulsa but it is getting busy in the lower price ranges. (Here that is 150K-230K or so) This is a good article to prepare people! I'll print it out and show them!

Apr 25, 2016 07:57 AM #41
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