Mr. Home Buyer, Your Champagne Tastes Don't Entitle You to Price Deductions!

By
Real Estate Agent with RE/MAX Elite 513.265.3004 www.LizTour.com SAL.2002007747
http://actvra.in/bhd

champagneMr. Home Buyer, Your Champagne Tastes Don't Entitle You to Price Deductions!

Dear Mr. Home Buyer,
Your agent tells us you've been looking for a home for quite awhile.  Nothing all that unusual about that, lots of buyers and their agents spend quite a bit of time looking for that perfect home. 

But from our limited knowledge of you based on the communications from your agent to us concerning your offer, we think that you may have a problem with YOUR expectations.

In our market, you typically shouldn't expect granite counter tops, custom tile, etc. until you're approaching the $300k price point, and even then, it's more likely to be a less expensive form of solid surface counter tops.

So when you're looking at homes priced in the low to mid $200ks, it's not reasonable of you to EXPECT those higher end features.  You may want them, more power to you.  Have at it AFTER you've bought your new home from our sellers. 

But what you CAN'T do as the buyer?  Deduct the cost of your desired upgrades off the list price of an already appropriately priced home.  The home is already priced competitively, already has upgrades to knock your socks off, and you think by saying "here's my list of the things I'll want to change after moving in" that you get a price break?  On a move in ready home?  REALLY??  Maybe your agent hasn't told you this yet, or maybe you just need to hear it one more time to "get it".  If a home has appropriate and good condition features, and is priced appropriately for the neighborhood, you don't get to deduct for your wish list.

So, we don't know you, haven't met you, but based on that offer you submitted yesterday that flamed out within three hours, we think we've got a pretty good idea of why you're STILL looking for a home. 

And if you change your mind and decide to offer a more reasonable amount for our listing?  Come on back!  Our sellers would STILL be happy to sell you this home.  Our sellers agreed with EVERYTHING else you wanted, it's just price!  And we have absolutely NO fear about the home not appraising.

Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz

UPDATED 5/24/2011 2 p.m.  For those misunderstanding this post, this is NOT a letter actually sent to a buyer client on the other side of a deal.  The facts are real.  Their misconceptions are real.  We did nothing on our side to kill the deal, nor do we ever.  This was never about emotion but strictly about price.  Seller countered twice, buyers didn't come up.  Deal closed for now, although the invite to continue was left open.  Do NOT interpret this as an attack on low ball offers or that we hinder deals or get emotionally involved as the agents.  We do what is in our clients best interests.  All offers are presented and countered.  This IS strictly an educational piece for the buyers (and their agents) who need it.  There was and IS no intent to insult anyone.  If you've been reading our blog regularly, you'd know that isn't our style.

Posted by

REALTORS(S) Serving Warren County Ohio & Adjacent Areas

The Liz Spear Team of RE/MAX Elite
Elizabeth & William Spear
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Liz direct:  513-265-3004
Bill direct: 513-520-5305     
Fax: 866-302-8418

MailTo:  LizSpear@Go-Concepts.com

Our Website:  www.LizTour.com

 FacebooktwitterWordpressYouTube Pinterest

 

 

 

 

 

 

OUR SERVICE AREA:


View Liz Spear Team of RE/MAX Elite Primary Service Area in a larger map

close

Re-Bloggged 3 times:

Re-Blogged By Re-Blogged At
  1. Charita Cadenhead 05/23/2011 08:43 AM
  2. Kate Smith 05/24/2011 10:06 AM
  3. Jon Quist 05/25/2011 04:26 PM
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the printer to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
Home Buying
Location:
Ohio Warren County
Groups:
Active Rain Newbies
Advice for Buyers
Advice for Sellers
Realtors®
RE/MAX Active Rain Bloggers
Tags:
buying a home
contract negotiations

Comments 121 New Comment

Ambassador
1,357,523
Liz and Bill Spear
RE/MAX Elite Warren County Ohio
RE/MAX Elite 513.265.3004 www.LizTour.com

Lyn, I can't see reaching above the neighborhood for extras and thinking the sellers are going to be happy.  In essence, the buyers have just insulted the sellers as saying their home isn't "good enough".  Every price point has features you expect to see, and not.  For our area, the home had features no reasonable person should have expected, and to then say they wanted more?  Uh...right!

Pamela & Gina, First time I've ever felt the need to add an update to a post to clarify intent, but between comments on Lenn's post and here, it was clear that not everyone was comprehending what I thought was a clear post....so JUST to be safe!

DeeDee, The right buyer is out there, this just wasn't the one!

May 31, 2011 06:12 AM
Rainmaker
144,488
Kathy Opatka
Serving Ocean City, MD, & The Delaware Beaches
RE/MAX CROSSROADS

I was NOT confused by your intent!  But you did a very good job of explaining your reason for this blog!  You've "said" what many of us had wished we could say!

May 31, 2011 07:53 AM
Ambassador
1,357,523
Liz and Bill Spear
RE/MAX Elite Warren County Ohio
RE/MAX Elite 513.265.3004 www.LizTour.com

Kathy, If they were reasonable, they could have been moving into this home in 10 days :)

May 31, 2011 08:31 AM
Rainmaker
971,016
Sharon Alters
Your Fleming Island Relocation Agents.
Coldwell Banker Vanguard Realty

I agree with Jane's response #9, that the agent isn't taking responsibility for the buyer when they let them do this. It's a guaranteed failed negotiation. A colossal waste of time for the buyer's agent and the buyers, and emotionally draining on everyone.

Sharon

June 02, 2011 07:08 PM
Ambassador
1,357,523
Liz and Bill Spear
RE/MAX Elite Warren County Ohio
RE/MAX Elite 513.265.3004 www.LizTour.com

Sharon, It's a low probablility of success tactic.  As the buyer's agent you're REALLY counting on the other side to stay calm cool & collected.  Not a standard thing to hope for in today's high stress markets :)  Everyone did stay c3 in this one, but still no deal.  Money talks, and low offers walk.

June 02, 2011 07:26 PM
Ambassador
1,357,523

Liz and Bill Spear

RE/MAX Elite Warren County Ohio
How Can We Help You? Just Let Us Know!
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the folder to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information

REALTORS(R) serving Warren County Ohio and surrounding areas. Observing and reporting on real estate and related topics to help your quality of life! And if you're asking where is Warren County Ohio? We fill the space between Cincinnati and Dayton. Perfect for enjoying the bigger cities without living in them. Places like Mason, Lebanon, Springboro, Waynesville, Franklin and more. Plus lots of rural properties available too. We work with both residential homes buyers and sellers.