A Realtor’s Definition of a “7” (or a “3” or a “9”) vs. a Consumer’s
[Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.]
Good Buyers’ agents don’t just qualify their clients financially, they also vet the Buyer’s selection criteria.
Exhibit A: what a client means when they say they’re looking for a “fixer-upper.”
In my experience, an agent’s definition of a “fixer” and a client’s can difference dramatically.
Defining Terms; 1-10 Scale
Just to define terms, in the course of getting acquainted I’ll often ask prospective Buyers to pick a number reflecting how much work they’re willing/able to do.
So, on a scale of 1-10, “1” means they can gut the entire home to the studs and put everything back together, including a new Kitchen and multiple new Bath’s.
At the other extreme, “10” means the cushions on the Living Room couch — assuming it comes with the home — need fluffing.
What I often find is that self-labelled “5’s” and “6’s” in practice turn out to be “8’s” or “9’s.”
That becomes evident — usually quickly — when clients see what their agent defines as a “5” or “6.”
“Rough? I’ll Show You Rough!”
Of course, what “number” house a Buyer ends up with is entirely up to them.
A good Realtor will simply try to: a) help their client define their preferred number or range, as realistically and objectively as possible; then b) help the Buyer efficiently find whatever home fits that description; and finally c) help them buy it at the best possible price. See, “Realtor Job Description.”
P.S.: What do professional remodelers look for?
“The right things wrong,” as ace local contractor Phil Raskin likes to say.
See also, “The Right Things Wrong.”
