That city slicker dresses like a cowboy, and lives in a condo.
There are many similar scenarios that all add up to folks “compensating for self-perceived deficiencies” or blowing smoke to mask underwhelming realities.
This is Over-Promising and under-Delivering personified.
Some folks might dismiss it as nothing more than a “little white lie” . . . or “stretching the truth” . . . or “exercising poetic license”
Close only counts with horseshoes and hand grenades.
Any way you slice it, someone is being hoodwinked.
So it also goes with many marketers.
Is it “Fluffing” or “Puffing” or “embellishment?”
Where is that line of too much?
The Glamour Head-shot from 15 years ago . . .
The wide angle fish-eye lens use when photographing houses to make everything look BIGGER.
We’re in somewhat of a dangerous real estate market because of this dynamic.
With near zero inventory of available houses on the market, some House Sellers (and their agents) might take advantage of their strong position of being THE only option in the market today.
They’re more likely to toss the house on the market overpriced and under-conditioned and STILL receive multiple offers from Buyers.
This is “Big Hat . . . No Cattle!” simply based on “positional power” that has been granted by market conditions.
This serves no-one well because:
Most of the time, there will an appraisal which very well may spoil the brew WRT the price . . . and a Home Inspection which will reveal the warts of the house.
More and more buyers are choosing to compete for the house just for goal of “tying it up” long enough to figure out if they like it enough to close.
They’re not in love with the house when they write the offer, so their likelihood of closing decreases precipitously upon discovering previously unseen defects (perhaps purposely concealed).
Often, this results in a new Price negotiation . . . Buyer considers all of the issues and doubles the estimate and asks Seller to reduce the selling price accordingly.
If the Seller ran out and put another house under contract immediately upon accepting the Buyer’s offer, that seller may now be backed into a corner and forced to negotiate.
These are unavoidable pitfalls of a tight market . . . or are they?
Can Real Estate Sales Professionals do more to moderate the mayhem through their handling of the listing and marketing of the houses?
I’d love to know the true statistic of number of offers submitted that don’t close . . . and why.
In consideration of ALL of the above, I can’t think of any better reasons to hire a REALTOR you know, like, and TRUST to guide you through the process of Buying and/or Selling a house.
PSSST – a “Vital Few” member of Pareto Realty would be a FABULOUS choice of agent