With all the commotion about the First Time Buyer Tax Credit, and doom and gloom news from our newspapers and TV stations, it is no wonder that the Buyer now believes he or she is in the driver’s seat. No request is unreasonable; after all, most of the Sellers are on the brink of foreclosure, and they will do anything to make the deal.

We all know that, if anything, the real estate market is firming up, and in some places starting to percolate. I am aware of competitive bids for properties in some locations in Massachusetts. So, Buyer beware!!!  You are not as much in control as you think. That being said, I suggest the following tactics for Buyer’s agents and attorneys for the Buyer:

    1. Work on educating your consumer. Tell your Buyers that it is a strong market, but unless they exercise some degree of reason, they will continue to lose out on properties which they want but feel compelled to exact too many price, and other concessions. It probably would not hurt to let your Buyer know that interest rates are at historic lows. If they delay their purchase indefinitely, the home they can afford today may be out of their financial reach tomorrow.

    2. Have a good handle on values.  Most of you, and I, are not professional appraisers. On the other hand,it behooves all of us to know the real value of the property we are involved with and giving that information to the potential Buyer. Sometimes, this valuation can straighten an aggressive Buyer out. If he or she bargains to hard, or too long, he or she will lose a property at an advantageous price. Knowing real values is an important part of our professiona, and that knowledge can really assist you when your Buyer “acts up”.