June 26, 2016 10:50 AM
A Lesson I Wish I'd Learned Earlier in My Career
One particularly painful lesson I learned came from a couple who were planning on retiring to the area and were looking to purchase a waterfront home. They both had a pretty lengthy set of requirements and a maximum budget that was set at $1,500,000. At this time (back in 2007) I had quite a few properties that met most of their needs, and we spent the better part of a week looking at what I had to offer them. But, everything I showed them just didn’t quite fit the bill. And, listening to their feedback it was pretty obvious that what they were looking for would be a more expensive property. I did casually mention to them that we should maybe increase our price range in their search, but they were adamant about the cap at $1.5 million.
So, we didn’t find anything and they told me they would keep in touch and look again when they returned to the area during their next vacation in about six months’ time. During which, I continued to send them new listings as well as any homes that had price reductions that went into their budget.
Though, that was never to happen as about four months later I noticed that their name came up in a sale of a $2.25 million waterfront property. I know the agent who sold them this property and asked her about the sale. She was contacted by the same couple about the same time I originally had been contacted by them and she pretty much sent them the same listings as I did, but she didn’t stop at the cap they had placed and went right on up to $3 Million. And, when they saw the home they eventually bought from her email, they fell in love with it and bought it.
So, I learned that no matter what a buyer tells me about price, I will send them properties well above their stated max and advise them that this is for their information and I’m not trying to push them into something they either don’t want to spend or can’t afford. And, let me tell you, that I have probably sold 20 homes over the years at well above the over the original cap that the buyers had given me to work with.
By Gabe Sanders
Real Estate Agent with the BlueWater Realty team specializing in Martin County Residential Homes, Condos and Land Sales 3090099