I’ll be the first one to admit that real estate is a business. Homes are my commodity. I wake up every day and put buyers into homes and help sellers sell their homes while also finding new buyers who want to purchase and new sellers who want to move. It’s a business through and through. However sometimes we can lose track that while homes are a product, once they are for sale they also have a story.
I recently had a closing where my sellers were very emotional at the closing table. They had just sold their home to a couple that relocated to Colorado. For both parties this home would act as their first home. You see my sellers purchased this as a new construction home about twelve years ago. In fact they purchased this home only a few short months before their first child was born. For the new couple that just moved to Colorado this would be the starting ground for all of their family’s memories.
My sellers have two wonderful children. Both children only know this house as being home. They have never moved before or experienced another neighborhood. The oldest is twelve and the youngest is eight. Their entire life and all their memories of being a family are within this house. Christmas, Thanksgiving, family barbeques, snow ball fights, their first dog, first day of school, the list goes on and on. You can imagine why my sellers were emotional at the closing table.
I tell you about my sellers because too often buyers wish to offer low ball offers on homes. I’m referring to offers twenty thousand and more off asking price. Everyone wants a deal even in a market as competitive as this one. The problem is when you offer twenty thousand or more off asking price you’re slapping the owner in the face. To the buyer this might be just purchasing a commodity, their home, but to the seller there’s so much more at stake.
If you are considering coming in well under asking price I want you to take a moment and put yourselves in the shoes of the seller. How would you feel if you saw an offer come in that low? How would you respond? It’s easy to put a price on a home when making an offer but when you’re selling your home there’s so much more involved than just a number. There’s history and memories. There’s too many “firsts” than one can count. Think about that before you decide to come in well under market value. A home is more than just a commodity.