Buyers Losing Homes By Taking Too Long to Decide
Posted by Judy Orr on Tuesday, October 25th, 2011 at 12:58pm.A buyer recently sent me a list of Palos Park homes she wanted to view. When I started setting up appointments I was told that one of the homes just accepted an offer and there would be no further showings. I relayed this to my buyer, who was very upset because it was the top choice on her list.
This is a buyer who has been viewing properties online for a long time. They just started actually going out and viewing homes, although they are not in a hurry. I have seen this happening with buyers more this and last year than ever before. These buyers are looking for homes part-time. Some go out once a month, some a little more and some even less.
When you're only sporadically looking for homes you can miss the best deals. Even in a slow buyer's market in the southwest suburbs, the good homes priced correctly are selling. So when you only go out to look once in a while, you're probably viewing the homes that continue to sit on the market, while the best deals
are being scooped up by motivated buyers that are out there looking and ready to write an offer.
I never push buyers to purchase before they're ready. But it does get frustrating when a buyer is so upset that a house they were very interested in sells because they felt they had all the time in the world and the house would be available until they were ready. Yes, there is much more inventory than buyers looking, but if the house shows the best in its price range, one of those other buyers will probably like it too. If they're ready to buy and you really aren't, you're going to miss out on all the best listings.
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