The current buyer's market, especially after the lending crisis, has created some unexpected attitudes from both buyers and sellers. There has no doubt been some price adjustments in asking and selling prices of homes over the past year or so. Our market area has not suffered like other areas of the country, but the competition for the shrinking pool of buyers is still putting pressure on those selling today.

 

That said, a lot of sellers are quietly (at first) in a resentful place. Everyone thinks their bricks and mortar are worth more than the next person's which make it even more difficult for seller's to get their arms around the price they've got to settle for to sell their home. Most sellers on the market today are not moving for the heck of it. They're having to sell due to marriage or the opposite of marriage, growing family, downsizing, job, financial reasons, and the like. Its simply not 2004...they're one of many, many choices regardless of price point.

 

That said, those who are most serious have improved their home to put it on the market at its best, taken the advice of professional stagers and their agent, and have priced their home to just over what their bottom line is. Those who have to sell fast have to price under the market so it shows up on more buyer's radar. Buyer's who really can get financing today know they're in the drivers seat and are in high demand. They have tons of choices. You'd think that with the great deals that can be had that they'd be a bit cordial and grateful. But that's not what I have been experiencing.

 

Buyers are sometimes getting 10% off the asking price and some additional seller's concessions, and they want even more, even after agreements have been reached either verbally or written. This sets the deal onto a acrimonious and contentious course. Both sides take a dislike to each other early on even though they've never met. Agents, try as they might, attempt to keep things unemotional and win-win, but we're only human.

 

In 2004 sellers were being cruel and unfair towards buyers and now its payback time. However, what ever happened to common decency and people wanting a win-win deal? In any market buyers and sellers need each other to get to the closing table. There's too much of an eBay mentality here. You know the person who gets emotionally caught up in bidding and pays to much to "win" the item? Its only afterwards when they realize the seller and the losing bidders won because they've paid way too much. In a real estate deal its the buyer who pulls out of a deal on a house they've negotiated to 10% under market for a $250 dispute even after they've spent hundreds on inspections. The next morning when they think about how they've "won" it becomes clear...no they didn't win.

 

My advice to buyers and sellers alike are to reach for a win-win, cordial deal. A deal where everyone is more than happy to show up at the closing. I can't tell you how often these days the sellers pre-sign and don't show up so as not to meet the "idiots" that bought their house. Most of my deals have been very win-win and happy experiences for all involved. Lately...that kind of deal is becoming more and more rare.

 

Some say, who cares, its business and a negotiation. I say, yes it is, however, there are many contingencies most deals need to clear and if things are strained and you need to extend a mortgage date, or want to work out some other issue that could kill the deal, its unlikely to happen because of the posture and tact the parties decided to take early on.

 

I love this business because I love to meet new people, work with the public, solve problems, and to make the selling and buying process an experience to reflect fondly on. The latter is becoming more and more difficult. I am hoping I can prevail with positive, win-win deals by managing both my buyer's and seller's expectations regarding this pitfall.