What Motivates Home Buyers and Sellers
Blake RobertsWhat motivates home buyers and sellers, the five D’s
One of the most exciting aspects behind the business of real estate is never knowing what the next day will bring. The five “D’s” and how they influence one’s needs are very individual. But, to some degree, the five “D’s are with each of us every day of our lives. Internal and external events are constantly changing our view of real estate. More importantly, accelerating and decelerating our needs on a virtual minute-by-minute life clock.
The five D’s are:
Death: Death is a huge real estate motivator. Whether it’s downsizing after the passing of a spouse, or the kids selling off their dearly departed family member’s land holdings, death is the fastest path from not for sale to sold. Death also ties into Desire and Dissatisfaction because it often causes cash to pass hands throughout the family tree. A sudden infusion of cash is the number one reason potential home buyers put their desire into action.
Divorce: We live in a modern, complicated world. Even our best intensions aren’t enough to keep a family together. Once the divorce is eminent, especially if the situation is acrimonious, the once happy home becomes a common asset that must be sold.
Desire: Well, we all have desire. Maybe there’s a particular home you’ve always wanted and now it’s finally on the market, maybe you’ve been hoping to move to an area with better schools for he kids, or simply desire a complete change of venue. Desire is about your dreams and what you want.
Dissatisfaction: So you bought your dream home when you were 25 and now your uber southwest teepee no longer works for you. Or, the new mall adds way too much traffic for your taste. Or maybe a paparazzi hounded celebrity just bought next door and you—there are so many reasons a family can become dissatisfied with their current home.
Default: For whatever the reasons, the homeowner is unable to financially keep their home, which is when interested buyers and investors have an opportunity to purchase the property below market prices. Depending on the neighborhood, foreclosed homes represent an amazing investment opportunity.
Reader Comments (1)
Very well written post the Five D's that motivate us to buy homes, all of these 5 are the truth, although these facts are hurtful but still beneficial to home buyers and sellers in some cases.