Every homebuyer wants it all. If you ask 100 homebuyers how many bedrooms they need, 95 of them are going to say 4 or more, even though they only have 1 child. One of our jobs , as Realtors, is to educate what people can get within their budget and what areas they can buy in. Now, obviously, folks with unlimited budgets don't have to deal with these decisions. I, however, don't run into many of those buyers. How many agents spend days or weeks searching the MLS for a home that is not there, or not going to ever be there? It is a matter of market knowledge and knowing the questions to ask. Many of you know that my specialty is new construction, so I get questions from Realtors all of the time, looking for something new for a client. Many of them are reasonable requests, within the price range. Some of them are not. Sometimes, it's a matter of saying "You can get this type and size home in this area, within your price range, but not in other areas". This knowledge saves agents and clients alot of frustration. I once had a man call me about one of my listings that was priced at $634,000. When I told him the size and price, there was silence on the other line. I asked "Sir, what is your price range?" He stated that he would be around $350,000. I told himn that the first thing we need to do was to get him out of the neighborhood that he was in. I met him at the entrance and took him to another neighborhood where he bought a home for $395,000. What if I had just answered his question and not asked more questions? He would have bought a home from someone else. Now, with all of the internet stuff around us, most buyers know where to look and where notto, but there are still those that think a home in their price rnage will come up in an area where it won't. That is unless it is a total re-do, then you have to calculate the money that you will spend to make it liveable. Many people don't know the general rule, "Do you want newer and smaller, or older and larger?" In most areas, you're going to pay more for new construction per square foot. It costs the builder more these days to build than it did 5 years ago. The questions is: "Is it worth it to do without some space to have a nice , shiny, brnd new home, complete with all warranties?" Too many folks, it is. You have people that are down sizing who want a smaller home just as nice as their former larger home. Then you have people, who have not had their large family yet. These people would rather have nice and new, as opposed to big. Remember, it all boils down to market knowledge and the ability to ask the right questions. Thanks for reading. Steve Houck
This entry hasn't been re-blogged:
Re-Blogged By Re-Blogged At
- Topic: Home Buying
Find what you need?
See More Blog PostsAbout Real Estate! SEE MORE NOW!