Why Don’t They Just Make Us An Offer?
One of the biggest questions Realtors in today’s market get when listing or marketing a home is “We are getting showings, why don’t they just make us an offer?” There are several problems with that question as it relates to today’s market.
Buyers have a different mindset- Buyers in today’s market realize that most sellers over the past 4-5 years have come to a reality that the their house is not worth what it once was. Therefore when they see a home they like, but appears to be out of line with other homes in terms of value- they will simply pass on it 95% of the time assuming that the sellers really aren’t serious about negotiating or selling the property due to the value being substantially above what other homes are.
Condition is important- If a home is in less than perfect condition buyers in this market will pass unless the home is clearly priced accordingly. You simply cannot expect to command “top of market” pricing if your home is tired or needs some updating.
Data is King- Most buyers in this market either have direct experience loosing money on Real Estate or have a good friend or family member that has felt the pain of the Crash. The Crash is fresh in everyone’s mind so even if the emotion is telling them to make an offer, the data will almost certainly have to back the decision up or they won’t pull the trigger.