The other day I had some buyers ask me about a house they’d first looked at over a month ago. They said that they’ve been thinking about it for a while, and they really liked the house except for about 20 things. It was decided that if they went to see it again they would put an offer on it. The real estate veteran that I am tells me that this house isn’t going to get an offer when they go back, but I told them that we could certainly take a look at the house again. Here are some of the things that are happening to my buyers and why they are seeing things this way.
- Very few buyers are good at remembering more than one or two houses at a time. When you look at 10 or 20 houses, they all sort of mix together. All of a sudden the things that bothered you about the house originally don’t bother you anymore because you’ve forgotten them or replaced those issues with repairs from other houses you’ve seen.
- Anchoring. While out looking at other houses, you always seem to remember the first one you saw. This is a sort of anchoring that is going on. Since buying a house usually depends on comparing what is available in the market, the first time you anchor your mind to a house, it becomes the house that all decisions are based on, right or wrong. This house is the first one we went to look at on the search.
- Absence makes the heart grow fonder. Because the buyers have been away from the house for a month, they’ve pretty much made this first house into the best house they’ve seen so far. I know what is wrong with the house. It is going to take a ton of work to clean up the landscaping, and there are interior repairs. It’s not a bad house; it’s just that the price versus what work needs to be done is a little off. The buyers aren’t able to remember the things they don’t like about the house because it’s been so long.
I didn’t tell my buyers this, but they are going to be disappointed when they go back to the house. I also know that they aren’t going to put an offer on this house because I’ve been around enough buyers to know that they have this “moment” where they decide that they will put an offer in on a house. If you are working with a couple, both people have the moment. I know that on this house, one is somewhat interested in the house and one doesn’t want the house at all.
How will I know which house to buy?
It’s pretty much just like the Whitney Houston song
Change the word from “boy” to” house”
There’s a house I know, it’s the one I dream of
Looks into my eyes, takes me to the clouds above, mmm-hmm
Oh, I lose control, can’t seem to get enough, uh-huh
When I wake from dreaming, tell me is it really love
This house we looked at first isn’t a Whitney Houston house. You might wonder why I just don’t go and tell my buyers that this house isn’t the one. Well, buying a house is a journey. At Deerwood Realty, we are ready to help you on your journey to find the home of your dreams.