When feedback is given it is sometimes vague. Potential buyers and real estate professionals do not always say exactly what is on their mind in fear of offending the homeowner or listing agent. We created the following guide in order to help you decipher some of the feedback comments commonly left by buyers and their representatives.
- When an agent says “the buyer thought the house was too small”, the agent means “the buyer found larger homes for the same price”
- When an agent says “the buyer put in an offer on a different house”, the agent means “the buyer found a house that they felt was a better value for the amount of money”
- When an agent says “the buyer liked the house but decided to purchase a new home”, the agent means “a new home can be bought for around the same price that you are asking for yours”
- When an agent says “the home needs work”, the agent means “repairs need to be done in order to neutralize the asking price”
- When an agent says “the buyer thought the street was too busy”, the agent means “the buyer found homes on quieter streets for a better price”
- When an agent says “the buyer is still looking/just starting their home search” , the agent means “the buyer is not in love with your home, or at least not at the current price/condition and wants to keep looking for a home that they will fall in love with”
Keep in mind, price will overcome many objections. If a potential buyer thinks your home needs repairs, negotiating a price drop may work to alleviate the buyer’s hesitation.
If you need help deciphering feedback on your home, give us a call!