It's Springtime on the River--our high season for residential. Anybody who's not making strong offers is wasting everybody's time.
If that's how a client wants to roll right now, they're advised to wait until November. If they want to make offers like an investor, that's fine--but they need to do it at the right time.

If they do, it's once and then when that falls flat, I remind them of it each new offer and show them the comps. You can't argue with the math of the market.

I've only worked with one buyer recently who offered less than list.  They lost out on the home, lesson learned

Most want the house and come in for it.  A good percentage though are looking outside their means and trying to get a bargin.

I do a deep dive into what the buyer believes...

One of my favorite questions is:  What does a "good deal" mean to you?

If you cannot set the buyers mindset into reality now, you are wasting your time trying to convert them later.

Eve

Yes & they are the most frustrating to work with. I keep hitting the nail with a hammer that they are not the only buyers for that price range. Buyers need to think in a more global sense - they are not the only ones out there & I keep reminding them of that.

Some buyers think they know better than experienced professionals. Then they lose their first bidding war and start to listen to us.

Reality is explained to them up front. i sometimes ask them " if you we're selling this house, and someone submitted an low offer like you are thinking of submitting, what would you do with the offer"? Almost all of them say, " I'd probably throw it in the trash". DUH

As I start each relationship explaining the realities of the market and that there are no more bargains, I haven't had a buyer looking for a miracle in years. I had one of those about 4 years ago... of course, they lost the house his wife loved. He did not make that mistake a second time.

I do find quite a few buyers want to submit a low price even when there are multiple offers. It boggles my mind.

we get the occassional bargain hunter,  but it's not the norm.

It depends on the motivation. If the buyers really wants the house, they will make a realistic offer.

In this environment, I tell my clients that getting the house is a bargain. What people sometimes forget is the home that they buy becomes the comparable for the next one going on the market, who will want as much or more for their home. 

Initially, yes.  After many offers are beaten out ... the start to see the light. 

There are no miracles for buyers right now - it's pony-up of move on!

Sometimes it takes a lesson in losing a home before they realize that your data is spot-on, Paul. Hang in there!

They usually only need to lose one or two to get the message.  Unfortunately, it does waste time but sometimes part of the process to get them where they need to be mentally.

        I have seen Buyers lose a house because "nobody pays full price", or "every seller expects to concede something".

Yes, there are still those who think they need to get a bargain only to end up empty handed. 

In a small rural market, buyers have the price advantages and local and out of town buyers all get a good deal without chiseling.Every market is so so different right Paul S. Henderson, REALTOR®,CRS, ?

Most of our buyers listen to our advice or they cease to be our buyers.

My favorite saying is a buyer needs to lose a dream home by making a bad offer to start making good offers up front on the next home they love

It happens all the time.. despite you showing them comps in black and white.. they always think they can lowball and get a "deal."  When this happens once or twice the lighbulb illuminates!

when the team members work with buyers, the buyer who wants a deal quickly buries that thought....

We focus on listings...

There will never be a shortage of unrealistic prospects.

they want the bargain,, until they lose out a few times,,,
Sad but true

Motivation matters in this or any market. Finding/ learning the truth whether it be found in myself or others is highly desired.

I do not waste a moment and prefer those who lost out on previous attempts who realize they are unlikely to acquire anything unless they get serious or get going.  One new agnet charges people for the work putting in to practice contract offer writing, plus a bonus if successful from buyers... 

Our area 2/1/885sf on 7500 sf lot listed for $799K sold 3.2M,  5/2/2,900 sf on 0.6 ac asked for $4K sold for $18M.... Sorry you have an attitude problem if you think you can get it close to asking price.

It depends on the individual.  

Its like hopping a freight train while it is moving....match the pace or miss it

People like to do that. I always suggest to put your best offer forward

The market conditions do not invite successful fishing trips!

Fortunately I work only with investors. The regular public frustrates me.

There are some buyers that don't get it right off, and need to lose at least one home before they get it.

Buyers sometimes remember and value what their family or friends have told from their experiences of buying a house years ago in a different market environment. Advice from a professional who is familiar with current market conditions goes unheeded. Those buyers will write an offer or two and lose out to others before they will see the light…or they will continue to be renters.

In this market, if they don't come in strong, they're out looking for another.  Sometimes it takes one to prove the point but... No miracles here. 

No.

Not any more Paul S. Henderson, REALTOR®,CRS,!

Many clients do not believe what we have to say about values

Most buyer I work with come in strong and listen to my advice and strategies.

Some folks just need a little education, and losing a few homes may do the job.

Get new buyers. For some reason they are NOT listening to you. have a "Come to Jesus meeting" with unrealistic buyers, especially in my market. My approach is to inform them of the market and how it currently is treating buyers. There is an overall scarcity of homes to choose from, I run a CMA and show them how many are selling in excess of asking and that the entire market is now at an average of  100% of listing price for sales. 

We are not magicians....

I usually suggest making an offer higher than I think they will offer in order to get an offer at a reasonable price.  Most people looking for a home are really wanting to buy but don't want to make a mistake.  Sometimes the worst thing that could happen is to suggest a price, they offer it and it is accepted. They think at times that we made them overpay.