New Buyer Clients Always Wonder…
Whenever I meet new buyer clients, there is anticipation in the air, measured by nervousness. As we talk through the home buying process and I ask questions to make sure we getting a game plan together to meet their goals, the new buyer client will inevitably ask, “What is the most number of homes you have ever shown before a buyer actually bought?”
That question is asked out of fear for many. They don’t want to the buyer that saw the most homes I have ever shown and they are afraid that in seller market conditions (which have dominated our Northern Virginia market since 2020) they may never find a house. They dread the thought that they may be wasting my time. For a select few, it is a bubbling curiosity…the kind of question I get asked at social gatherings when a fellow attendee finds out I am a real estate agent.
While I can’t remember exactly, I do recall it the most number of homes I showed a client who purchased a home to be about seventy-two. That is a lot of homes for sure, but during the time we were house hunting, those particular buyers made several offers. The seller’s market in Northern Virginia has been tough for many to have success. New buyer clients are worried that I might lose patience with them. Not at all. I understand the market and do my best to help them find the right property and get under contract with it when we do.
To date in 2024, I have represented eleven buyer clients. Nine of those buyers have already closed on their home purchases, two are under contract. Out of all eleven, four were new construction buyers who never saw any other property but the new construction opportunities. They came to me with new construction in mind. Of the remaining seven, here is what I can tell you:
- On average buyers saw 13 properties before going under contract
- The median number of properties a buyer toured was 7 before going under contract
- On average my buyers wrote 2 offers before going under contract
- The median number of offers my buyers wrote was also 2
Who saw the most listings? Buyers who saw thirty-eight homes. In fairness, they were seeing most of them virtually as they were only able to come into town for one house hunting tour. It was always my pleasure to see them on video chat and tour homes with them. Those buyers also made the most offers, six in total. The buyer who saw the fewest homes was a first time buyers who saw five homes over the course of two property tours. When she saw what she wanted, she wrote an offer and it was accepted. One and done. There were two other buyers this year that wrote one offer and had it accepted.
No two buyers are alike, so the house hunt process is going to vary. The important thing is to keep focused on what matters most to each buyer. Searching for a home can feel like a daunting task, but it doesn’t have to be. If we are able to flesh out what you want, where you want it and want you want to pay for it, that is enough to get the ball rolling and maybe even find your home within a couple of property tours. If it takes longer, so be it.
If you want to move up to your next home, downsize from the one you are in or just want to stop paying someone else’s mortgage and start paying your own, get in touch and let’s have a conversation. There are plenty of opportunities in this seller’s market for serious buyers. And if you are looking for new construction, I am well versed in helping you there as well.
Chris Ann Cleland
Associate Broker
VA License #0225089470
Long & Foster Real Estate
Call or Text: 703-402-0037
Email: ChrisAnn@LNF.com
www.UncompromisingValues.com
The opinions expressed in this blog are those of Chris Ann Cleland, not Long & Foster. All content is written by Chris Ann Cleland without the aid of artificial intelligence.