Industry NewsNews Brief

When MLS comps are not enough

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Question: Would you be willing to buy a home if you were not comfortable with the price? If not, then why are we surprised when resale home buying prospects who have seen the home they wanted, decide to wait? The fact is there is a price/value vacuum in today's resale market that is bringing the "I think I'll wait" excuse to a virus level. If you have ever spent weeks with a buyer who decides to "wait until the market turns around," you know what I am talking about. Fortunately, there is a cure for this disease. Hesitant buyer prospects blame their indecision on the economy. But the truth is they couldn't get comfortable with the fact they could pay too much. They may have liked the asking price, which may turn out to be illusory, and there's also the foreboding, unknown expense of unexpected maintenance and renovation. In other words, finding the home of their dreams -- which we promise the market we can do -- is not enough today. We must be able to find the ...