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How to…
Ease buyers' concerns about a fair price
No one likes to learn they paid too much for something. If that something is a house, the elation of owning a home can quickly turn into a sinking feeling in the pit of the stomach.
Not surprisingly, 58% of
respondents to a recent Homepricecheck.com survey listed overpaying for a new home as their number-one real estate concern. Knowing that this anxiety weighs heavily
on many buyers, you can act to calm
their fears.
For starters, tell buyers in your marketing materials and in person that you have the expertise to help them arrive at a fair purchase price. Explain how you can compare data on recently sold homes in the same neighborhood as a property they want to purchase. Tell them about your negotiating experience. Go over the importance of an appraisal, not just for the lender but for their own information and peace of mind.
If you can show prospects data on your buyers’ purchase price as a percentage of asking price, and it compares favorably to the average purchase price as a percentage of asking price of the entire MLS, you really have a powerful presentation tool. Don’t track this information? Now’s a good time to start.
Only buyer agents need take these buyer concerns into account, right? Well, knowing that buyers are wary of overpaying for a home, you can provide information that shows the buyers and their agent why your listing is fairly priced. Identify features about the home that add value and include them in the property flier. Highlight these features in the MLS and Web site listings. Prepare your own sheet that shows comparable sales and point out differences that helped your sellers arrive at their price.
Photo © Image100.
home current issue top 10 resources
Buyers & sellers, visit www.texasrealestate.com.
REALTORS®, visit www.texasrealtors.com.
