(마이애미) 6 Big Buyer & Seller Turnoffs‏ – Trulia (마이애미)

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Tara-Nicholle Nelson
February 6th, 2014
 

In the wild world of dating, when you encounter a “turn-off,” you can just pack it in and not to go on another date with that guy or gal again. But turn-offs can be much more detrimental when they come up in the realm of your real estate.

Often times, your clients may inadvertently make big mistakes that can cost them big when it comes to securing their dream home or their dream offer. Indeed, turn a buyer off, and your seller’s may risk low offers or—worse—a home that just won’t sell. The same goes for buyers. In today’s market, multiple offers are common. And even in cases when your client is the only buyer on the scene, having a cooperative seller goes a long way toward everything from getting access to the place for inspections to getting a price reduction when the appraisal comes in low. Thus, the potential exists for buyers to turn sellers off, and risk having their dream home slip right through their fingers.

As your clients proceed toward their quest for a drama-free home  journey, it’s your job to stop them from making these far-too-common mistakes and help them snag the best buyers and sellers to help their real estate dreams become a reality.

Top 3 Ways to Turn Off a Buyer Off:

1. Clients who hang out when buyers are viewing the home: Buyers stalk properties online and off, checking obsessively for price reductions and the like. But buyer-side home stalking is unobtrusive to sellers. On the other hand, buyers can feel personally stalked and stifled in their ability to fully explore or verbally process their impressions of a home when the seller hangs out inside the home while it’s being shown.

As soon as a buyer sees the seller in the house, it instantly becomes much more difficult for them to:
(a) envision themselves living there (it’s their house, after all),
(b) be comfortable opening up drawers, closet doors, etc., and
(c) express their thoughts about how this house might be exactly what they’re looking for, if they can knock out that wall and get rid of those cuckoo murals that were lovingly painted in the children’s rooms.

What to Tell Your Sellers:

“If you want to sell your home, it’s best to not be around when buyers are looking. Give them some breathing space and a chance to truly walk around and consider what they like and/or dislike about your home without having you lurk and, let’s be real, eavesdrop nearby.”

2. Showing a messy house: Life gets hectic, and it’s easy for things like laundry, dishes and other house cleaning tasks to fall by the wayside. It’s also difficult to keep the home in which your seller, their four kids, three gerbils and two dogs live perfectly spotless for months at a time, while they’re waiting for an offer. Your client must understand that when they decide to sell their home, it’s imperative that they make a pact and a plan with to keep the place in tip-top shape when buyers come knocking.

Remind your clients that their home is competing with dozens of others, as well as with buyer’s HGTV-infused visions of what their next home should look like, so first impressions really count.

What to Tell Your Sellers:

“Stuffing the closet is not the answer. Buyers will be opening that closet door, after all. Please, pack up your personals like you were moving (because that’s what we’re aiming for!), and put everything but the essentials in storage, if needed. Get the carpets cleaned, do the dishes, make the beds, mow the lawn, dust, sweep and mop.”

This might all seem obvious, but buyers and buyer’s agents are constantly amazed at the condition of some of the homes they walk into. Take my word for it; I’ll spare you the ‘ewww’-inducing stories.

3. Overpricing the home: Buyers already have lots to do before making the largest purchase of their lives. They have to wrangle their finances into order, jump through hoops to qualify for a loan, collect the cash for down payment and closing costs, and invest sometimes hundreds of hours into market research and house hunting. With all of this already on their plates, the prospect of trying to negotiate down a crazily high asking price is just too much work and too outside their comfort zones for most buyers to deal with. The average buyer won’t even bother looking at a property if the asking price is clearly high and off base compared with other similar, nearby homes for sale; they’d rather sit tight and wait .

What to Tell Your Sellers:

“The only opinion when it comes to price is the market’s opinion. We need to price to sell from the beginning. Let’s work together to determine a price that is supported by the data on how much nearby homes have recently sold for. You’ll save yourself a lot of time and anguish and get a lot more legitimate bites from serious, qualified buyers.”

Top 3 Ways to Turn a Seller Off:

1. Unjustified, extreme lowball offers: The market is on the up! And in many markets that means that what may have been okay back in 2009 is just not going to cut it anymore. Let’s be realistic, here. No seller can afford to give away their home at a price far below what it’s worth on today’s market. Lowballing a seller at a price far below the recent sales prices of similar homes in the neighborhood on the ‘let’s-take-a-stab’ plan, is highly likely to turn them off.  And that, in turn, will cause the seller to view the offer – and your buyer – as disrespectful and wasteful of their time.

Not only will they turn down the offer, but they may not even bother with a counteroffer, rendering any efforts at securing that particular home dead in the water.

What to Tell Your Buyers:

“Let’s review the recent sale prices of similar homes in the neighborhood before you make your offer. I’ll help you factor in other market data, like the average list price-to-sale price ratio and the average number of days neighborhood homes stay on the market. It’s all right to come in lower than asking, if the market data supports such an offer; just be sure your offer is based on reality.”

2. Buyer-side mortgage fails: Lending standards have changed frequently in the past few years. That means buyers can’t assume that they’ll be approved for the amount of loan they need to buy the house they want. A client’s inability to get approved for a home loan can create all sorts of problems not just for the buyer, but also for the home’s seller. The average seller’s worst case scenario is that  they accept an offer only to find out a few weeks, or months, later that the buyer can’t get the loan they need to close the deal.

What to Tell Your Buyers:

“It’s not overkill to start working with a mortgage professional as far as six months or a year in advance of starting your house hunt to get pre-approved for a loan. Make sure you get a clear understanding of the amount you qualify for, then we can work together to determine the price range you should house hunt in. And whatever you do – don’t buy a new car, open new credit cards or even change your line of work before your escrow closes, unless you consult closely with your mortgage professional before you make that move.”

3. Bashing the seller’s home: Home bashing happens when buyers start bad-mouthing the place and/or the neighborhood in hopes of getting a lower asking price. Examples: Saying the house down the street just sold for much lower than the asking price on this house or saying they’ll need to rip out the entire kitchen before they even consider moving in. Clients who say any of these things to a seller who happens to be at home during the showing or the inspection are at risk for turning the seller off right away.

What to Tell Your Buyers:

“Bad-mouthing a house or neighborhood won’t work to get you a lower price. Instead, it only serves to irritate the seller and motivate them to come up with all sorts of reasons why they shouldn’t sell their home to you! Remember: homes hold incredible emotional experiences for owners. Make an offer you’re comfortable with, but let’s discuss any major concerns after the showing. If there are legitimate, factual reasons underlying your decision to make an offer at a price the seller might see as far below value, I can respectfully communicate those facts to the seller’s agent.”

Tell us! What are the biggest turnoffs you’ve encountered during home buying or selling?

Tara-Nicholle Nelson Written By Tara-Nicholle Nelson More about Tara-Nicholle Nelson 

 

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