Contradictions of Buyers and Sellers In the Current Real Estate Market

The 2009 real estate market: Good, Bad, or the same? Nobody knows for sure.

Here is one thing The Wells Team knows for sure: When people are buying a house they wear one hat. When they want to sell they wear a different hat.

What is the buyer looking for in a house? EXACTLY WHAT THEY WANT! They want the exact floorplan, decorating, paint, and price. If a room is decorated in a different style,a bathroom or kitchen is outdated, or a room painted in an unusual color, the buyer is done with the house. They do not want to renovate. They also lack the imagination to see the house in their style. They have lots of houses to look at and they hold the upper hand in pricing.

At the same time we have seen some of these buyers act as sellers. Let the contradiction begin. They do not want to see their competition. They price their home based on a list of comparable properties. They do not want to physically see their competition.They cannot or do not want to make the big changes to be competitive. Out of date bathrooms, kitchens, paint, and flooring are some of the items they do want to acknowledge. The answer is to have the buyer renovate when they purchase.

What happened? When the buyer becomes the seller they look at housing from a completely opposite viewpoint.

Opinion from The Wells Team:

Talking to sellers about their house is extremely difficult. However our company, The Norton Agency, preaches the following: TELL THE PEOPLE WHAT THEY NEED TO HEAR NOT WHAT THEY WANT TO HEAR! When we do this we are met with angry homeowners in a state of denial.

Decorator allowances are not working. People do not have the time to renovate. People have limited imagination. Unless you are giving your house away then you must do the necessary work yourself prior to listing.

When you list your home for sale keep your buyers hat on instead. This will keep you from being one of the homeowner contradictions!