It's easy to tell when your buyer clients have fallen in love with a listing. They clearly have that thrill and excitement coursing through their veins. But just like any relationship, this one takes some work too.
Dana Bull, a real estate professional with Harborside Sotheby's International Realty in the Boston area, has three tips this Valentine’s Day that you can use to help guide buyers through the decision-making process when they’ve fallen for a property to make sure they've truly found "the one."
- Compromise. “Just like in a romantic relationship, compromise is key in making a great home purchase,” Bull says. It’s rare when a buyer finds everything on their wish list at the price point they want, so home shoppers have to be realistic about what sacrifices they are willing to make. When your clients find a home that feels right, walk them through the initial criteria they laid out when they began their search. Make sure they will be satisfied without some of the prerequisites they initially settled on, so that they’re sure this love will last.
- Looking beyond the honeymoon phase. Savvy buyers need to see the long-term value in a home, Bull says. Don’t let your buyers ignore major red flags just because a home seems like love at first sight. Advise your clients on the mechanics and potential repairs needed after closing. If they’re still committed, then maybe it is true love after all.
- Don’t let their heart control the purse strings. Love is a powerful emotion that can lead your clients to the home of their dreams. But buyers who let their heart lead them into bad financial choices is a recipe for disaster. If love is truly blind, then advise your clients to put their feelings aside when it comes to putting in an offer and negotiating, Bull says.
Source: Dana Bull, danabullrealtor.com
