Martin Dorgan

Do You prefer Buyer's or Seller's? " I Benefit From Each, and Inturn, Benefit Each of Them!?

Real Estate at least initially, doesn't really give you the option to pick and choose; a Buyer or Seller?  We kind of take what we can get.  But as time progresses we tend to make choices, or at least some agents tend to gravitate towards working a specialization, and even Brokerages do!  Some Realtors prefer Buyer's, some prefer Seller's,....Which ever choice you make, I hope you enjoy it, and are extremely good at it.

Here are some things I learn from working with Buyer's!:

Home buyers are searching the Internet at an amazing pace!  Almost 90% start their home search on the Internet, and I see that here locally in Columbus, Indiana.   And by asking them "where they search on the internet, or elsewhere, can help an agent target their marketing!

Buyer perception of the Local Columbus Indiana Market, Is very important.  It gives agents the ability to compare the past, to the present through statstics, or market analysis. But it also allows the agent to coach Seller's, on the Buyer's perspective coming into a home.

Today most Buyer's want and virtually demand lots of pictures!  I pitty the poor agent that doesn't post pictures quickly and numerous views of a home. Virtual Tours are extremely popular.  In fact, I check every new listing posted to our local Columbus Indiana MLS System every day, constantly throughout the day, just to se what the pictures reveal about a house.

Features and Amenities of a home -of course this varies widely with price ranges, local markets, and individual buyers, but trends change. This can help me understand what features should be showcased vs. those that sellers may think are positives when in fact buyers are shunning them. We can't necessarily change them but sellers must understand the issues that buyers are going to raise. Those older homes that need updating are one example, and  tile counters, for two, are both good examples.  We have many homes here in Columbus Indiana, some that have been updated by their owners, but some that still need to be freshened up.

Concessions AND Contingencies THAT ARE IMPORTANT TO BUYERS - again, lots of differences, but many are walking into homes immediately looking for dramatic price reductions, buyer closing costs, repairs, and more. Being able to report what the buyer pool is telling us rather than simply stating my opinion is useful for preparing sellers and adds a level of credibility.  I just recently suggested that one client, take his home off the market temporarily, and correct the issues that had been brought up by potential buyers when they visited the home, during an open house or a showing.

And then there are these issues:

IMPORTANCE OF MLS ACCURACY - there are too many times buyers get really annoyed because of misrepresentation, distortion or outright lying in MLS listings. Making sure we correctly represent a home in the MLS is essential, and part of our duty to our seller clients. It's a given, IMO, but we sure see lots of problems.

EASE OF ACCESS FOR SHOWINGS - buyers get really frustrated when trying to tour homes that are tough to schedule, have limited showing hours, or need lengthy notice. They, like I, get frustrated when agents do not return calls to facilitate showings. And with short sales and other distress homes this is hard to understand. And not being able to go out in the yard because of Fido creates a problem, or worse yet, can't get into the house because of pets roaming free. 

PETS AND SMELLS - buyers almost always seem to comment about being accosted by overly-friendly pets (especially dogs), smells, and dirty houses. And I have yet to find one who LIKES those smelly candles and plug-ins that are so common.  If a seller really is motivated to Sell, then they should have the carpets professionally cleaned to eliminat the majority of the lingering smell of their pets.

SELLERS BEING HOME DURING SHOWINGS - buyers really dislike this, and I do, so this is a no brainer when coaching my seller clients. But it is something to keep in mind if sellers seem inclined to want to be there. It's a tough issue if someone works at home, but they can always take a break for 30 minutes, and go run an erand.

THE WAY IN WHICH BUYERS APPROACH THE PURCHASE PROCESS IN TODAY'S MARKET - they are often leary of short sales or of the process, and it generally is a long and involved process.  They want to make lowball offers no matter what the CMA that the agent prepared for them indicates. They have a desire to negotiate everything, are not willing to pay full price, know they often have the upper hand, and so on. Yes, some of this does not yield the results they want, but sellers need to understand what likely will happen. And buyers are coming to the offer table armed with more information about the market, prices and comparative value. It may not always be accurate, Zillow being a case in point, but again it's their perception. 

What have you leearned ?