Why we want what we can't always have!

Imagine you are in Marks and Spencer, no money to spend, and you see the most perfect outfit you absolutely have to have? If only you had the money, you would buy it like a shot. So you save up and return, only to change your mind, and walk out empty handed? Somehow when we’re in a position to buy, there seems to be far too much choice, it’s actually harder to make a purchasing decision.

Well it’s the same with houses.  When a viewer who has not yet sold his house (or maybe not even put it on the market) views yours, the chances of him falling in love with it are far greater than if he was in a position to buy.  I have long since held this belief, and not only has it been proven many times, it actually happened again today, and to me!  Viewings have been high, at 1-2 per week on average.  Today, I had a viewer who absolutely loved the house, and promised vehemently that he would put an offer in – just as soon as he’d sold his house. A tad annoying really……

The lesson here, is don’t get excited if you get strong interest, unless the buyer has already sold, or is in a proceedable position.  Otherwise, you’ll accept the offer, relax your marketing and staging efforts a little, (or a lot) and pat yourselves on the back that you’ve practically sold your house.  Beware though; your buyer wants your house all the more because he can’t have it, and when he finds himself in a position of being able to transact, don’t be surprised if he changes his mind.  After all, what do you think he was doing all those months he was on the market? Looking at other properties of course; just to be sure.  

There are a lot of properties out there on the market after all.. so much choice……

Author: Christos Nikolaou

BEng Mechanical Engineering, MSc Real Estate, ETEK Property Valuer, Register and Licensed Real Estate Agent.

Christos Nikolaou is the founder and Managing Director of Property Canvas, he holds a license as an Estate Agent from the Association of Real Estate Agents of Cyprus and he is a registered Property Valuer in the Technical and Scientific Chamber of Cyprus (ETEK). He is the author of our “Why we want what we can't always have!” and is a certified advance negotiator.