“Buyers are liars” is one of first things I heard when I started to sell real estate. At this point I certainly had my rose colored glasses on, and didn’t understand what agents meant by that. As I near my 15th anniversary in this career…my glasses are no longer rose colored, but I think I understand people more than I used to…and I know why agents use this phrase.
If you have ever been a home buyer, or hope to be one in the future…you probably think this doesn’t apply to you. I mean, what would you lie about? That makes no sense. You know what sucks about that? Buyers usually aren’t lying on purpose. They don’t intend to make their agent run in circles needlessly. But often it happens…so to save the sanity of your agent, and yourself…let’s see if we can stop you from lying!
These are the biggest lies that buyers tell…let’s figure out WHY they are lying.
“I don’t mind a fixer-upper.” People say that they want a good deal on a house , and they don’t mind fixing it up a bit. You know what though, buying your next home is often more about emotions and less about the numbers. Some homes feel better than others. Sometimes you can imagine your family in a home…and that picture doesn’t happen in the homes that need some work. Suddenly the $10,000 price difference really seems like no big deal…especially if you could have that beautiful home. So you were a liar. You said a good deal was more important than a move in ready home….but the home you fall in love with is move in ready, and priced at market value. Plus, you want new furniture, and after closing costs and moving costs…you really would rather just move in to a perfect house. Try to think the reality through..and not be swayed by fixing up you see on the real estate shows on TV.
“I want to be within 10 minutes of my job.” Often this lie comes from buyers that are new to the area. They have a job, and the are relocating for that job. This buyer has looked online and thinks it will be no problem to located close to their employment. Sometimes buyers that are changing price range from their previous home also tell this lie. Without knowing the market really well, they think they can find their perfect home in their price range in an area that that just isn’t possible. Or, the 4 bedroom home with a pool is there, but 5 miles further out will give them a MUCH nicer 4 bedroom with a pool, and they quickly change their mind about their priorities. This is one “lie” that I would be very careful about veering from too much….or regret will be the result.
“I have been pre approved for a mortgage.” Often buyers will tell this lie if they want to view a home, but real estate agent is insisting they are pre qualified first. Buyers don’t want to jump through 843 hoops necessary to get a pre-qualification, they just want to see the house! I get that…I hate hoops, and I am certainly not the most patient person around…but you really should be approved BEFORE you start looking. Why? You may fall in love…and not qualify for the house. When you were young and your parents told you to stay away from a certain person…who did you WANT? That person. It is exactly the same with a house. You will find yourself comparing everything to this house you can’t have…and nothing will be as perfect. Don’t do it. Get all the way pre-qualified. Get the lender EVERYTHING they need to make a decision. So often buyers…or even real estate agents…don’t understand how the process goes for a pre-qualification….and what they think…may NOT be what the lender sees.
“I don’t want to buy for around 6 months.” Well….maybe you think your ideal time is 6 months in the future…but when your heart does flips the minute you walk in a house…you will be changing your mind….and scrambling to make things happen. The way I see it….if you are renting, but ABLE to buy a house, just buy a house. It is financially the best choice usually, plus it gives you roots and your family a place to make home. If you really don’t want to buy…then you shouldn’t be looking at houses yet. Markets aren’t stagnant…you have no idea what will be on the market, and where the prices and interest rates will be int he future. You aren’t learning anything , you are just wasting time. I agree, it is SUPER fun…but probably not the best way to keep you patient until the time is right.
I think you get the idea now about why Buyers are LIARS. So talk things out with your real estate agent (me!) and figure out your must haves, deal killers….and your sweet spot for a mortgage! It is part of the process, and the sooner you involve a professional, the sooner things will be more clear…and your vision will be your reality!
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