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Local Voices
Ann Jones

Make Them Buy My House

I was having a conversation with one of my clients not too long ago. My client was frustrated because they had had over 20 showings and no offer.  We were all over the place talking about location, condition of the property, pricing, etc.  

It's my personal feeling that when a home looks fantastic and is in a fabulous location, then the buyers just can't get their minds wrapped around the asking price.  

It's hard for sellers to understand that their home is no longer their home: once it's on the market, it's just a commodity. Their home is being compared to hundreds of other homes on the North Shore. So I tried to suggest that perhaps the buyers just didn't see the value. Trust me, this is never an easy discussion.

Out of frustration, my client said to me, "You need to make them pay at least $... for my home."

I almost started laughing, but realized that wouldn't help. My client gave me way too much credit -- no agent has the ability to make a buyer like a house or make an offer or pay a certain price.  Wouldn't it be fabulous, if we did?

Buyers are fickle and finicky and demanding these days... they can afford to be.  After years of acquiescently giving in to seller demands, the buyers know they call the shots. And buyers don't always make a lot of sense.  

I had one client who repeatedly told me that they wanted a house that had several key features. Out of the blue, they called up to look at house that was 180 degrees opposite of that. Go figure?

I have found that often buyers -- while they talk about price, location and features -- are really looking for just the right home.  We can all relate.   When I was looking for a new home, I would often find a place that was 95 percent there -- theoretically and on paper.

But it just wasn't right.  Buyers don't often know what they want ... Until They See It!

So sellers, sorry, unless someone is uninformed or emotionally in love with your house, they will not make an offer or pay a certain price unless they want to.  

Carl Castrogiovanni

5:40 pm on Tuesday, July 26, 2011

Great article! Too many folks don't understand that your home is worth only what someone is willing to pay for it, not what you think it's worth. As you assert, good marketing is important, but only gets you so far... It's clear that a lot of people are still in denial about what's happened to real estate values, and they have a psychological block against selling a home for less than what they payed for it (or even break-even). Unless you can afford to wait a couple years, you'd better accept that we are in a buyer's market - even for high end areas like LB/LF.

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