What do buyers resist most in the homebuying process?
- Entering into an exclusive buyer’s listing agreement (39%, 33 Votes)
- Deciding on a home and price quickly to submit a timely offer (34%, 29 Votes)
- Pre-approval for a mortgage (15%, 13 Votes)
- Accepting pricing advice from their agent (12%, 10 Votes)
- Other – let us know in the comments! (0%, 0 Votes)
Total Voters: 85
Share your input in the comments below!
In this over priced market, I’ve talked with other Agents about whether or not they would show a property just because the commission is only 2 or 2.5%. Some say they won’t show a property at 2% others will.
I think the best way to look at this is what’s Best for your Buyers. Many Sellers today try to negotiate with the Agents prior to giving them the listing. If we sell ourselves on the fact that we are Professionals, and if we double end it were willing to cut the commission. Your doing the same amount of work.
Commitment. They fear committing to the entire process. Those that are committed, make compromises, figure out problems, come up with solutions and reach their goal of buying a home within the timeframe they set for themselves.
This relates to all of the other options mentioned above.
Resistance to price – sticker shock is high since prices have risen, first time buyers have been priced out.
I’m finding, too, that average HOA fees that run $5000 a year are a huge drag on the market – how HOA fees grew so much has been a surprise, largely due to legal requirements that HOA reserve requirements be fully funded, but it’s making loan approvals and ratios difficult.