Monday, September 20, 2010

The Buyer Loves Everything! They Are Not Going to Buy!

The Buyer Loves Everything! They Are Not Going to Buy!  Are they lookers or buyers?

Being in real estate for twenty years, some observations were made early in my career.  When a buyer, that I didn't know and had not worked with previously, walked  into a home and loved everything, they usually would  not buy it. Either they were  not ready or they could not afford it.

Have you ever seen this happen? A family makes an appointment to see a property, they are so excited. The kids are going, WOW, look how big that room it, I have never seen ceilings that high, Look at that big yard. That could be my room.  And the parents are just loving everything.
                                                                   Heart=Love HomeRome
Then you start asking the questions. Could you see yourself living here?. The answer is a resounding yes!

Then to the next set of questions. How will you be financing?  Do you need a mortgage? Do you have cash? Have you even been to a lender? How soon do you need to move? (Remember this was early in my career. ( We are not talking about our qualified buyers of today.)

The answers ranged from, not sure, I am bit behind in my rent, but I am sure we can make it work. As much as I love it, we will find a way. Others may say, we are just looking and have no plans of moving.

The Buyer Loves Everything! They Are Not Going to Buy!   Are they lookers or buyers?
Think about your past showings. If someone loves absolutely everything in every house you show them, they cannot afford it or are not serious buyers.

Only once did I have a young service man see one and only one, of my listings, liked it, gave me the name of his lender, signed a contract, gave me a check, bought and went to settlement. Easiest transaction ever! This was an exception!

On the other hand, when a buyer finds things wrong with the house, they may be negotiating. Some examples: We don't like the colors and the wallpaper is awful. There is a stain on the carpet. We wanted a bigger bedroom. This house does not even have a finished basement.

Can they be negotiating a better price?
How do you evaluate the two? Are they lookers or are they buyers?


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