Sunday, May 28, 2023
Subscribe to Guide
No Result
View All Result
Hamptons.com
  • Spotlight
  • Entertainment
  • Arts
  • Community
  • Dining
  • Recreation
  • Events
    • Events Calendar
    • Post an Event
    • Gallery
    • Main Beach Music Series
  • Real Estate
    • Real Estate Features
    • Search Real Estate
      • Open Houses
      • Search Sales
      • Search Rentals
    • Title Insurance
    • Happening In The Hamptons Podcast
    • History of the Hamptons
  • Live Cameras
    • All Live Cameras
    • Live Weather Cams
    • Rogers Beach, Westhampton Village
    • Westhampton Village Main Street (East)
    • Sagg Main Beach, Sagaponack
    • 39A Corner, Southampton
    • Main Beach, East Hampton Village
    • South Ferry, Shelter Island
    • Coopers Beach, Southampton Village
    • Southampton Village Main Street (South)
    • Southampton Village Main Street (North)
    • Southampton Village Main Street (Hildreths)
    • Downtown Circle, Montauk
    • Long Island Aquarium | Shark Tank
    • Long Island Aquarium | Coral Reef
    • Tiana Beach, Hampton Bays
    • Ponquogue Beach, Hampton Bays
    • Ponquogue Bridge, Hampton Bays
    • Shinnecock Fishing Dock, Hampton Bays
    • Village Main Street, Sag Harbor
    • Downtown Main Street, Sag Harbor
    • Windmill Beach, Sag Harbor
    • Foster Memorial Beach, Sag Harbor
    • Conscience Point Marina, Southampton
  • Public WiFi
    • Public WiFi Map
    • Public Wi-Fi Support
  • Spotlight
  • Entertainment
  • Arts
  • Community
  • Dining
  • Recreation
  • Events
    • Events Calendar
    • Post an Event
    • Gallery
    • Main Beach Music Series
  • Real Estate
    • Real Estate Features
    • Search Real Estate
      • Open Houses
      • Search Sales
      • Search Rentals
    • Title Insurance
    • Happening In The Hamptons Podcast
    • History of the Hamptons
  • Live Cameras
    • All Live Cameras
    • Live Weather Cams
    • Rogers Beach, Westhampton Village
    • Westhampton Village Main Street (East)
    • Sagg Main Beach, Sagaponack
    • 39A Corner, Southampton
    • Main Beach, East Hampton Village
    • South Ferry, Shelter Island
    • Coopers Beach, Southampton Village
    • Southampton Village Main Street (South)
    • Southampton Village Main Street (North)
    • Southampton Village Main Street (Hildreths)
    • Downtown Circle, Montauk
    • Long Island Aquarium | Shark Tank
    • Long Island Aquarium | Coral Reef
    • Tiana Beach, Hampton Bays
    • Ponquogue Beach, Hampton Bays
    • Ponquogue Bridge, Hampton Bays
    • Shinnecock Fishing Dock, Hampton Bays
    • Village Main Street, Sag Harbor
    • Downtown Main Street, Sag Harbor
    • Windmill Beach, Sag Harbor
    • Foster Memorial Beach, Sag Harbor
    • Conscience Point Marina, Southampton
  • Public WiFi
    • Public WiFi Map
    • Public Wi-Fi Support
No Result
View All Result
Hamptons.com
April 11, 2023

Real Estate with Diane Saatchi: Buyers Are from Mars, Sellers Are from Venus

Diane SaatchibyDiane Saatchi
in Featured, Real Estate
Home Real Estate

 

When there’s news in the economic or real estate market, buyers and sellers hear it differently.

 

For instance, let’s say interest rates are going up.

 

Buyers: “Prices are going to come down! It’s going to cost more for people to own houses — so the seller should lower the price, because we’re not going to pay more when interest rates are rising.”

 

Sellers: “There’s going to be a flood of buyers in the market now! People will want to buy homes before the rates get any higher.”

 

Or, let’s say there’s a significant drop in the stock market:

 

Buyers: “I lost so much in the stock market, I have less to spend on a house.” Or, “it’s a good time to invest in stocks, so I will have less available to spend on a house.”

 

Sellers: “I took such a hit in the stock market, I need to net more on the sale of my house.”

 

Same news, different reactions. It’s not that different from political partisanship, where opposing parties interpret the same information differently, because they have different perspectives. They both draw different conclusions, with a rationale that seems to make sense.

 

If somebody is both a buyer and a seller in the same market, they still have the same disparate views: Their dollar, they think, will buy more than the next guy’s dollar. I often have to remind customers in this position that if both trades are in the same market, they’re buying low, they’re going to sell low as well.

 

Because buyers and sellers have different goals surrounding the same property (buyers want to pay as little as possible, sellers want to realize as much as possible on the sale), they also tend to come to the deal with a similar message that counterintuitively puts them at cross-purposes: They don’t have much riding on this deal. They can wait for a better one.

 

We’ll often get a listing and the seller will say, “I don’t need to sell. I’m not in a rush. I need to net this much. I have all the time in the world.” That’s how it begins.

 

On the other end, the buyer begins with, “Well, we just started looking. We can rent another year. We don’t have to buy.”

 

Neither party wants to imply that they might be willing to compromise, in hopes of getting a better deal. From the broker’s point of view, then, why are you here? It is not easy to buy or sell a house. It takes time and it can be inconvenient. You have to really want it. You have to be willing to jump over all of the obstacles that come with purchasing real estate.

 

It’s the same thing for selling: It’s not easy to sell a house. You have to price it right, you have to get it ready, you have to put up with potential buyers’ and brokers’ schedules, have open houses, have to keep the house tidy, lawn mowed, etc. Both parties have to be motivated to do it, and the broker must match someone willing to work hard to buy with someone willing to work hard to sell.

 

That’s where experienced brokering comes in. The seller shouldn’t think the buyer is desperate, and the buyer shouldn’t think the seller has unlimited funds. It’s up to the broker to provide each party with sufficient, relevant, deal-making information.

 

It might sound like buyers and sellers are indeed planets away from each other. But, since there are successful sales, there must be a way for each party to accommodate the other.

 

In most cases, both parties in a successful deal tend to feel like they paid too much or got too little. I’ve been working in real estate for over 30 years, and only once did someone look at a house and say “That’s really nice. I want this house and I’m going to buy it. How much does it cost?” 

 

I told him the price, and he said, “okay.”

 

His acceptance of the price isn’t so uncommon. Very often, buyers will ultimately pay the asking price, or over the asking price, but they don’t do it that easily. And what happened in this situation? The seller thought he didn’t ask enough. The seller was not initially pleased with the agreeable buyer. He briefly wondered if the asking price was too low. But, in minutes, he reminded himself how long it had been listed and accepted the deal.

 
Previous Post

Sixty-Something: The Hamptons and Horses

Next Post

Conga Cartel Brings Latin Fusion Back to the Talkhouse

Search Articles

No Result
View All Result

FOLLOW US

TRENDING ARTICLES

Derek Lam 10 Crosby Announces First Store Opening in East Hampton

Derek Lam 10 Crosby Announces First Store Opening in East Hampton

May 26, 2023
Day Passes Still Available for Zibby’s “Fierce Women” Retreat

One-Of-A-Kind Candlelight Concert Series at Canoe Place

May 26, 2023
First Annual Kites for Kids Day in East Hampton

First Annual Kites for Kids Day in East Hampton

May 26, 2023

LOCAL EVENTS

27
May
27
May
-
30
May

Anna Kaiser Studios OPENING MDW!

May 27 @ 09:30 AM - May 30 @ 12:00 PM
3 Railroad Ave, East Hampton, NY 11937
27
May
27
May
-
28
May

DJ Set at Calissa: JIMY in the Lounge

May 27 @ 10:30 PM - May 28 @ 02:00 AM
Calissa Hamptons
28
May
28
May
-
30
May

Pilates Social Studio: Hamptons Grand Opening

May 28 @ 08:00 AM - May 30 @ 02:00 PM
720 Montauk Highway, Water Mill, NY 11976
28
May
28
May
-
28
May

Outdoor Yoga

May 28 @ 08:30 AM - May 28 @ 09:30 AM
181 Main Street, East Hampton NY 11937
28
May
28
May
-
28
May

Southampton Farmers Market!

May 28 @ 09:00 AM - May 28 @ 03:00 PM
Online Event
Load more listings
Next Post
Conga Cartel Brings Latin Fusion Back to the Talkhouse

Conga Cartel Brings Latin Fusion Back to the Talkhouse

    Facebook Twitter Instagram Youtube
    Hamptons.com

    Saunders Broadcasting Corp.

    Phone: 631-405-3902
    Email: [email protected]
    Facebook: Facebook.com/HamptonsOnline
    Twitter: @Hamptons
    Instagram: @HamptonsOnline

    Contact Us

    Hamptons.com

    • Arts
    • Community
    • Dining
    • Entertainment
    • Featured
    • Gallery
    • History of the Hamptons
    • Kids
    • Music Videos
    • Real Estate
    • Recreation
    • Spotlight
    • Tuesdays at Main Beach Music Series

    Subscribe

    Get daily news updates to your inbox!

    Subscribe to our mailing list to receives daily updates!

    © 2021 Hamptons.com | All rights reserved
    Saunders Broadcasting Corp.
    Terms & Conditions | Privacy Policy | Contact Us

    No Result
    View All Result
    • Spotlight
    • Entertainment
    • Arts
    • Community
    • Dining
    • Recreation
    • Events
      • Events Calendar
      • Post an Event
      • Gallery
      • Main Beach Music Series
    • Real Estate
      • Real Estate Features
      • Search Real Estate
        • Open Houses
        • Search Sales
        • Search Rentals
      • Title Insurance
      • Happening In The Hamptons Podcast
      • History of the Hamptons
    • Live Cameras
      • All Live Cameras
      • Live Weather Cams
      • Rogers Beach, Westhampton Village
      • Westhampton Village Main Street (East)
      • Sagg Main Beach, Sagaponack
      • 39A Corner, Southampton
      • Main Beach, East Hampton Village
      • South Ferry, Shelter Island
      • Coopers Beach, Southampton Village
      • Southampton Village Main Street (South)
      • Southampton Village Main Street (North)
      • Southampton Village Main Street (Hildreths)
      • Downtown Circle, Montauk
      • Long Island Aquarium | Shark Tank
      • Long Island Aquarium | Coral Reef
      • Tiana Beach, Hampton Bays
      • Ponquogue Beach, Hampton Bays
      • Ponquogue Bridge, Hampton Bays
      • Shinnecock Fishing Dock, Hampton Bays
      • Village Main Street, Sag Harbor
      • Downtown Main Street, Sag Harbor
      • Windmill Beach, Sag Harbor
      • Foster Memorial Beach, Sag Harbor
      • Conscience Point Marina, Southampton
    • Public WiFi
      • Public WiFi Map
      • Public Wi-Fi Support

    © 2021 Hamptons.com | All rights reserved
    Saunders Broadcasting Corp.
    Terms & Conditions | Privacy Policy | Contact Us