Buyer Enthusiasm

By
Real Estate Agent with Long and Foster Real Estate VA License # 0225089470

Buyer Enthusiasm

There is no question that buyers are in a near frenzy to find properties to purchase.  Historically low mortgage interest rates have brought a ton of demand.  However, inventory is lacking.  You would think any old house a buyer could find would do.  Not so much.

Even in seller's market, buyers need to feel some level of enthusiasm about a property to write an offer.  To go above and beyond list price and remove typical contingencies from their offers, buyer enthusiasm is a must.

Earlier in the year, I had first time buyers who were under contract to buy a home they were very enthusiastic about.  However, at the time of inspection, the finishes only went so far before the lemon underneath was revealed.  Nonetheless, my buyers have referenced that property and the layout as the measuring stick for subsequent properties we have toured.

Heading to a property with the exact same layout in the exact same neighborhood, the buyers arrived with very little enthusiasm.  Why?  The photos of the property didn't reveal the pristine condition.  Amateur photos and a bare bones description lead to zero enthusiasm.  We all remarked, while in the home, just how nice it was and realized quickly, it was far superior to what they had been under contract to purchase.  Did they make an offer?  No.

Is professional photography necessary to create buyer enthusiasm?  I certainly think so and you can read more about it on my personal blog.

 

 

Comments (14)

Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Chris Ann I'm not quite sure why they wouldn't make an offer on a home that was far better than the other one they liked.  So what if the photos were poor - that all was in their favor. Had the LA done proper photos there would be a lot more interested buyers to contend with. I sometimes am happy to see lousy photos... we've picked up some good deals due to lazy  or uneducated agents. 

Mar 09, 2021 02:04 PM
Chris Ann Cleland

I feel the same way Anna Banana Kruchten CRS CRB, Phoenix Broker , but since they started with a bad impression, there was nothing to pump them up again after it didn't meet their expectations.  Meanwhile, there is one coming up with pro photos winking at them down the street.  Will be active this weekend.

Mar 10, 2021 10:48 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

I'm so puzzled as to why they wouldn't make an offer. Like Anna, it can be such a gift when agents don't market a property well. It's wonderful to be pleasantly suprised. In fact, that's how we were able to snag our current property. Terrible photos and marketing. Plus, the seller hovered. 

Mar 09, 2021 02:20 PM
Chris Ann Cleland

Debb Janes EcoBroker and Bernie Stea JD --I was stunned too, but just goes to show why first impressions online are so important.  Had they been hyped up about it before going in, I think they would have made an offer.

Mar 10, 2021 10:49 AM
Faye Y. Taylor
StepStone Realty, LLC - Floresville, TX
Homes for Sale Floresville, La Vernia &San Antonio

Ok, can you disclose the reason they didn't make an offer on a house they liked that wasn't being marketed well?  Means less competition to bid against.

We are having so many offers on our houses that it is discouraging for some buyers.  Currently have a cash buyer who has been shopping since last August.  Being cash still have a limit that 18 months ago would have bought a nice house today isn't even in the game.  Being so discouraged (and somewhat picky which is her right) she can't make an offer now as her head is tied up with the rapid increase in prices here.  It is sad to see people priced out of the market.  We have seen houses that had 7 offers within a couple of hours and by the time the cutoff arrived I am not sure of the number but at the end of the day we looked it was over 12.  That is a lot for our area. 

Mar 09, 2021 02:47 PM
Chris Ann Cleland

Faye Y. Taylor --They are waiting to go in and see one that looks better online due to better photos.  They just couldn't get over the initial bad impression.

Mar 10, 2021 10:50 AM
Faye Y. Taylor
StepStone Realty, LLC - Floresville, TX
Homes for Sale Floresville, La Vernia &San Antonio

Do sellers go and look at their listings online?  Why do they put up with a LA who does bad photos?   The last one my buyer looked at had a deadline at 6 pm for the first day of showings and had posted the property under contract by 6:15.  The pics were lousy but I guess they didn't care because the house sold so quickly with multiple offers.   But I am sorry; I am clueless as to why any seller of  $400k+ would hire an agent who does such a bad job marketing.   All my listings get professional photography no matter the price point.  It is well worth the expense. 

Mar 09, 2021 02:51 PM
Chris Ann Cleland

I'm with you on this.  Sellers get what they pay for.  Hire cheap, get lousy marketing.

Mar 10, 2021 10:50 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Chris Ann - purchasing a home is an emotional appearance in all sorts of ways.  Why not properly highlight the very best features???

Mar 09, 2021 02:56 PM
Chris Ann Cleland

That's my thought.

Mar 10, 2021 10:50 AM
Andrea Bedard
Thompson Company, REALTORS® 240.593.2860 - Silver Spring, MD
Fluent in Real Estate & German, M.A. ABR ASP CIPS

As a listing agent, I agree: professional photographs are a must. I could not, will not post a listing without it. In my opinion, it's not only the service our clients deserve but also a reflection on my professionalism and how seriously I take my business. 

When I work with buyers, on the other hand, listings with poor descriptions, poor pictures or no pictures excite me. It definitely means less buyer enthusiasm and less competition which is great for my clients. But I also understand when buyers are hesitant.. is the poor listing presentation an indication of how the transaction will go? If there's no pride in presentation, was there perhaps no pride in ownership either? 

Mar 09, 2021 06:27 PM
Chris Ann Cleland

I think the poorly marketed homes still get multiple offers, but definitely sell for less than they would have with professional marketing. 

Mar 10, 2021 10:51 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Chris Ann Cleland good morning, Chris Ann... as our friend, the erstwhile Barbara Todaro always says: "the eye buys." I've been doing kick-a$$ professional photography on all my listings since 2000, before most agents marketed on line. I consider that one of the main reasons that for more than 20 years my average DOM for my listings has been lower than the MLS average.

Mar 10, 2021 04:21 AM
Chris Ann Cleland

That's a great stat to have!  Way to go.

Mar 10, 2021 10:52 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

I do think having excellent photos is key to getting buyers in there. As many have asked, I wondered why they didn't make an offer either. It sounds like it could have been the one!

Mar 10, 2021 05:18 AM
Chris Ann Cleland

I think they were left with an incongruent feeling and the first impression won out.  And it doesn't help that a listing down the street has pro photos and is coming up next weekend.  First impressions are critical.

Mar 10, 2021 10:53 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Chris Ann here in my market bad photos or not buyers are in a 'feeding frenzy' give you an example we wrote an offer $50k over asking and we were not in the top five that they even responded to.... not agreeing with the Listing Agent and the Seller they should have done a 'best and final' when the offer we submitted was 50% cash on a million plus property..... on a side note the pictures were well let's be kind could have used some professional touch...Endre

Mar 14, 2021 10:57 PM
Chris Ann Cleland

It's a rough market in so many places.  

Mar 17, 2021 03:28 PM
Kimo Jarrett
Cyber Properties - Huntington Beach, CA
Pro Lifestyle Solutions

Apparently, your buyers IMO were not comfortable with the neighborhood and not the property they were surprisingly enthusiastic about. Quality pictures are essential for executive or luxury properties, yet, what drives up prices IMO are more about L3 and upgraded amenities when competing with other properties and not necessarily the pictures. 

Mar 15, 2021 08:49 PM
Chris Ann Cleland

Glad you feel you know them.  I've worked with them.  It was the pro photos on another coming up in the same market that had them hesitating.  

Mar 17, 2021 03:29 PM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

First impressions color everything you see afterward. That's just a fact.

Mar 15, 2021 09:00 PM
Chris Ann Cleland

Yes they do.  So important.

Mar 17, 2021 03:29 PM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

How foolish of those buyers to not see an opportunity staring them face to face.  They must have been concerned with the comments from others they know that would have only seen the photo online and not the real deal

Mar 16, 2021 07:08 AM
Chris Ann Cleland

I don't think so.  There was one that looked so much better coming up the following weekend and it was a piece of garbage.  Funny how photos color first impressions.

Mar 17, 2021 03:30 PM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

I so agree with you regarding the professional photography and the appearance of the home!  However, I do appreciate those buyers that can overlook little things that can be changed:  beat up furniture, nicked paint, dirty baseboards.

Mar 17, 2021 11:03 AM
Chris Ann Cleland

Being able to act on what is front of you vs. waiting for the next one is critical too.

Mar 17, 2021 03:31 PM
Dana Hollish Hill
Hollish Hill Group, JPAR Stellar Living - Bethesda, MD
REALTOR * Broker * Coach

You only get one chance to make a first impression. If it's not ready. Don't show it. Get it ready and WAIT for the professional photographer!

Mar 18, 2021 09:59 AM