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Sellers Are Getting Real----Buyers Are Getting Pickier

By Kim Harris

Real Estate Agent with Sound Realty

June 19, 2008 08:21 AM

There seems to be a subtle shift in the air with regards to how sellers and buyers are reacting to the constant movement and change occurring in our business.

I am not writing about buyers that always want a deal at 10 cents on the dollar; but the actual buyer who desires to own perhaps their first home or upgrading to another. They are still gun shy and will not commit to a purchase, until every small detail in a home is answered, before a contract is written. Several agents have mentioned to me lately that they have had buyers that have cancelled on items or info that normally can be worked out among parties involved. They are very quick to cancel. It is not about price. It is about commitment during these confusing times we live in.

At the same time sellers are finally listening to agents and pricing their homes correctly. They have a pretty good handle on the lengthening time frames to be on market, and what needs to be done in order to sell, at the optimum price, reflected in recent activity, in their respective areas. I have actually had a few sellers recently mention they understand and appreciate what we do for them!!!

What a concept!!!!

Have anyone else noticed these shifts in their respective markets?

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Martha Brown

Long & Foster Real Estate, Inc., Annapolis MD 21403 - Annapolis, MD

Your Homes Around Annapolis Agent

Sure have. Committment is a huge issue right now. Much more so than price. Of course it starts with price but quickly changes as we move along.

Sellers are beginning to understand a lot better than a year ago. They know that if they even want to be considered for showing they need to be priced right and from the beginning or very quickly thereafter.

The market is uniquely different and challenging too but that is what makes real estate so interesting. You will never be bored!

Jun 19, 2008 08:34 AM

Mike Kinlaw

Prudential Georgia Realty - Jefferson, GA

No doubt, Kim - think the sellers have almost become our "allies" (never thought I'd say that) and many buyers have become the "bad guys," so to speak.

However, in all fairness, I think the indecision of the most buyers is simply out of fear - especially first-time buyers. It makes it all that more important that we communicate every aspect of the deal to them and ease their mind throughout the process. With all the negative attention that the media has placed on the real estate market, it's hard not to understand why many buyers are so hesitant.

As you mentioned, if there is a silver lining in all of this, it's that I finally believe many sellers are starting to realize that there is more to selling a house than just sticking a sign in the yard and throwing it into the MLS. I, too, have had sellers thank me for somehow "performing a miracle" and actually getting their house sold. I'm certainly no miracle worker, but it is nice for sellers to actually be appreciative of your efforts. It's just a shame that it took a poor market for most sellers to realize that what we do is no easy bargain.

Jun 19, 2008 08:40 AM

Michael Wayne Jackson

Coldwell Banker - Novato, CA

Broker - Seniors Real Estate Specialist Novato

I agree that buyers are picky right now since there is so much inventory still, and more to come.

Kim Harris

Sound Realty - Kirkland, WA

Designated Broker/Owner/Sound Realty

Martha, I really hope this will turn some of the negative stuff we hear about on a daily basis, into the beginning of an actual turnaround. Thanks for commenting.......I commented on one of your post today; liked it a lot..

Jun 19, 2008 08:43 AM

Gary L. Waters Broker Associate, Bucci Realty

Bucci Realty, Inc. - Melbourne, FL

Eighteen Years Experience in Brevard County

As attitudes change, the market will eventually change with it. Lets hope the sellers and buyers both get realistic.

Jun 19, 2008 08:45 AM

Mike K., For many years all we worked on was "win-win" , and around 2004 that changed into adversarial roles. Maybe "win-win' is on its way back....Thank you for taking the time to write a thoughtful comment.

Jun 19, 2008 08:47 AM

Mike J., Perhaps the huge amount of active inventory is changing the mind-set of sellers to become real from day one....Have a great day.....

Jun 19, 2008 08:50 AM

Gary, As Nick Nolte said to Eddie Murphy in 48 hours, " I'm with you all the way " on that one...

Just for sellers and buyers to become "flexible" is a major step in the right direction. Thanks for commenting.

Jun 19, 2008 08:54 AM

Sellers Are Getting Real----Buyers Are Getting Pickier

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