Not The Feedback We Were Looking For!

July 10th, 2007 categories: Hillsborough Property Tax, South Tampa, Tampa Condos, Tampa Market Reports, Tampa Real Estate, Tips for Sellers

My buyer is a “first time” home buyer, and the reality of taxes, etc. is coming into play. She is approved, it’s when we go over the numbers that she feels alot of pressure. Might need to lease for a year.. Thank you for letting me show. Best of luck, Buyer’s Agent”

Feedback from buyers and their agents about their take on a property can provide some very valuable insight for the listing agent and the homeowner. If you can get it. And when you think about it, a good buyer’s agent will usually not provide any feedback. No feedback is feedback in itself really. A good buyer’s agent will certainly not gush over their clients feelings about a home or condominium. Many do however. “It’s the perfect place. It’s just what they’ve been looking for!” I’ve heard it, believe it or not.

The feedback at the top of this post is what we received today from an agent that showed one of our listings yesterday. She was kind enough to reply to our e-mail inquiry. Is she bluffing? Maybe. She did say her buyer “loves that complex”. But this feedback really sums up the average buyer out there right now. Buyers are very cautious to make a move. They find something they like and then get the remorse before the offer is even made.

But come on now. If the buyer is pre-approved, shouldn’t she already know the numbers? What really causes the buyer’s fear is the reality that if she buys it now, she may owe more than it’s worth a year from now. Buyers are looking to get in at 10% under current market value to cushion any further devaluation.

And headlines such as the one in today’s Tampa Tribune business section don’t help. But these articles, for the most part, are reporting the facts. This year will end up similar to 2001 in sales volume. Freddie Mac predicts a better 2008, but that’s generally speaking of course. Real estate is local, not national. We’ve got a lot of inventory here to move through.

So if you’re a current seller or soon-to-be seller, be ready for cautious buyers (few) who aren’t in a hurry. And if you truly want to get it sold, it needs to be priced so that buyers feel that if they don’t get it, someone else will.

This entry was posted on Tuesday, July 10th, 2007 at 6:30 pm and is filed under Hillsborough Property Tax, South Tampa, Tampa Condos, Tampa Market Reports, Tampa Real Estate, Tips for Sellers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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2 Responses to “Not The Feedback We Were Looking For!”

1. Brian Miller [July 11th, 2007]

   Hey Lenny,
   Great post on one of my favorite pet peeves. It really bugs me when no one leaves feedback, but you offer a couple interesting perspectives on feed back that I haven’t considered…thanks

2. Lenny G [July 11th, 2007]

   I always try to provide some feedback if my buyer client has no interest in the property. But it’s tough to get it. I now send a quick e-mail to agents who show our listings with a few pics of the property to refresh their memory, and have had better luck getting responses as compared to a phone call/voicemail. Thanks Brian.

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