Tuesday, May 13, 2008

Milwaukee Buyer's market

Showing flexibility a must

One of the luxuries sellers have lost in this buyer's market is the luxury of showing their property on their time.

With all of the talk about buyers "sitting on the fence" and holding back, a request to show your property is a BIG deal and not to be taken lightly! Today's motivated buyers are requesting showings and making offers. If you are serious about selling, you have to be serious about getting buyers into your house.

There are still many buyer out there who want to buy. They aren't waiting around for Sunday open houses to see property. If they can't get in to see a place, they don't reschedule. They say, "Next!"

This week, I've been astounded by the difficulty of getting in to see properties. I have a buyer seeing 12 properties today because she needs to close in 30 days. Chances are high that she will purchase one of the properties she sees tonight.

We are seeing 12 properties, instead of 13, because one unrepresented seller (listed in MLS "by owner") decided that they wanted her to come over the weekend instead. Unfortunately for them, she probably won't ever see their property because she wants to buy TODAY. It seems crazy to me for a seller to deny a showing in today's market over a little inconvenience to them. Even more ironic, I felt that their property would probably have been one of the best chances for my buyer.

Another buyer is a motivated investor. He has $400,000 burning a hole in his pocket and wants me to find a property for him as soon as possible. Yet, one lister didn't even bother to return my TWO phone calls requesting access. If I were her seller, I'd be LIVID.

This isn't 2003 folks. Did some of us miss that this is a "housing crisis?" Hmmmm?

In today's market, you can't afford to deny a showing! If they can't see your home, chances are they will buy the one they did see.

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