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Interpreting buyer ‘feedback’.

Interpreting buyer ‘feedback’.

We always ask co operating Realtors for ‘ feedback” on the buyers reaction to one of listings after they have shown it. There are various responses: We like to hear ‘ they like it and are thinking about it”: or ‘ they have a few questions…etc” What is not nice to hear is ‘ they want their parents to see it” – or they want to come back again” Then there are the other responses: ‘ the house is too small” ‘ the yard is too small’ ; the appliances are not new” ‘there is too much work to do’ ……the next line to that comment is, not said, but implied is ‘ for the price’.

If you just add, ‘ for the price’ you will understand the complaint – if the price was lower, those missing items would not be in contention. The value changes depending on what a buyer ‘ sees’ – not what the seller has lived with and found acceptable. Location is not a reason not to like a house. Usually buyers and the Realtor know where it is located, and show it, despite the possible negative comment. There is nothing a seller can do to make up for a location that is not desirable. The same situation existed when that seller bought the house – ( unless a freeway or new bridge was created) and the same ‘saving’ occured for the purchaser at that time. Reasonable adjustment should be made for any negative ‘location’ …..which boils down to ‘ the price’ The next time a buyer says, I like it but the garage door needs fixing, or the wall paper has to be removed – just tell your self ‘ for that price’ and you’ll have the solution to the quicker sale.


 

Posted In : From Adriana