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Susan Alvarez, Real Estate Pro in Longmont, CO

Is there anything worse than paralysis?

Asked by Susan Alvarez, Longmont, CO Sun May 26, 2013

The buyer has heard about the low vacancy rate, so they're not anxious to put a deposit down. They love the homes that you have shown them. But they're waiting to sell (and they're not budging on price). Either the market moves up, or you could be waiting a long time. Is there anything else you can do as their Realtor?

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Answers

7
The buyer is the final judge on timing. Their reasons are many. An adult child finishing grad school. A retirement or other life event. The time to buy has to be right for them.

I think sellers generally understand if they wait on the market coming to them, they may have to adjust their sights lower when they go to buy because the market also moved the price on the homes they like. Patience. Getting to know the client better are what I do.

Should you suggest other financing?

Naturally, you keep looking for them. There is a house out there that fits their needs, price and their taste.

Sometimes, the market just doesn't have what they want. I figure it's my job to find that dream home.
0 votes Thank Flag Link Fri Jun 21, 2013
Homes sell that are priced right, staged, available, and well represented. It's time for the seller to check reality! If they want to move-up they must first move-out.

Dena Schlutz
0 votes Thank Flag Link Wed Jun 12, 2013
We are, indeed, in a changing environment and that applies especially to price. A seller who is in a buying frame of mind may just watch the market get away from them.

Some sellers may be too attached to a particular price they want. Dropping price in an appreciating environment can be a tough sell for an agent. Then again, if a home hasn't sold in 30 days, the property is probably priced too high. The other culprits are issues that haven't been fixed and the seller is not using an agent. If they aren't using an agent, their home isn't getting the exposure it should.

One more issue has cropped up recently. We have to take some blame on this one if we have been repeating the words "low inventory." Yes, there is not a lot to choose from. This issue can be removed if the seller is persuaded that moving into a rental makes sense. In the best of times, it takes some buyers years to find the home they want. If they already have been looking for a year, they may be ready to tolerate six months or a year in a rental. It might be a subject to broach after they have been really wowed by a house.

This is a high-touch service we provide. Home sellers turn to us with their questions and concerns.

I think you first plant the seeds. Over the course of a few months, I might suggest dropping price on their sale or even removing a listing and putting it back up the next week. I often tell sellers they should offer allowances for stained carpet or broken tile.

Thanks for responding. I like your answers.

Best regards,
Suz
0 votes Thank Flag Link Tue May 28, 2013
Best thing to do is respect their decision. They know more about their personal situation and it's their home and their money.
Stay in touch, stay supportive. In the long run they will respect you for respecting them.
0 votes Thank Flag Link Mon May 27, 2013
Hi BoulderSuZ,

There are those buyers that simply won't budge for any number of reasons and then regret it when the homes they were looking at are no longer available or are now out of their price range. Either they are not serious home buyers or they have an inability to make a decision which requires a different type of professional.

While I would definitely stay in touch with these buyers, I would not actively pursue them. It's going to have to be on their terms.

Best of luck,

Barbara Grandolfo
0 votes Thank Flag Link Mon May 27, 2013
I have buyers (potential ones) I have been working with on and off for three years. Get use to it in this business and realize sometimes a buyer does not want to be pushed, shoved, manipulated or coursed so you treat them as the boss and move at their pace.
0 votes Thank Flag Link Sun May 26, 2013
Market conditions change on a regular basis. Prices and rates are headed up. Convince the buyers with the facts. Now is the time to buy. I have written numerous offers recently only to get out bid by multiple offer situations.
0 votes Thank Flag Link Sun May 26, 2013
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