Industry NewsNews Brief

Help your buyers compromise and close more deals

Study reveals issues that buyers are most likely to be flexible on
Published on Jan 30, 2013

Recently I ordered a bowl of black bean soup for lunch. The server returned from the kitchen and said they were out of black bean soup. I told her I would have tomato soup. After she wrote it down, I changed my mind and ordered a Caesar salad.Did I lie to the server? No. I did what most home buyers do. I compromised.If your prospective buyers tell you they want a three-bedroom, two-bath resale home, but purchase a new four-bedroom, three-bath residence, did they lie to you?No, of course not. Seriously -- why would any buyer purposely lie about they want to purchase? Buyers are not liars. They are compromisers. According to research conducted by the National Association of Realtors, 67 percent of buyers compromise before purchasing a home (NAR's 2012 Profile of Home Buyers and Sellers).If this is true, then a longstanding attitude about "needs assessment" must change from what prospects want in a home to what they THINK they want and need, does it not? If two out of three ...