Location, Location, Location - or not as the case may be?

The most organised purchaser I have ever met once produced a list of 56 things that they wanted in their new property.  The list was sorted into an order of priority, number one being something that was essential, that they absolutely wouldn’t compromise on under any circumstances.  Number 56 on the list was something that would be nice in a perfect world.

I worked with this buyer for a number of weeks in his search for a suitable property, eliminating a number of properties purely from looking from the outside and viewing the shortlist.

The property he finally purchased only ticked 30 of the 56 original boxes.  Even more surprising was that the property that he finally chose did not fit two of his top five most essential requirements.  How can this be?  It’s because the perfect house doesn’t exist, and nearly every purchase involves a compromise somewhere along the way.

One of my long term fascinations within the estate agency industry and where I believe the real skill in the job lies in working with a purchaser throughout the whole of the buying process.

I have never been 100% sure why sales staff in estate agency offices are called sales negotiators.  The actual negotiating part can be the shortest part of the process.  Far  more time is spent by the sales staff working with buyers and helping them both solve their house moving problems and fulfil their goals.

A person’s search for a property is dynamic – it’s changing all the time.  Depending on timescale it could change every week, every month, every day or even every hour.  We had a recent purchaser who was visiting Ipswich for one whole day with the sole target of going home in the evening of having secured the purchase of a property.  They viewed a selection of eight homes and even as early as lunchtime had changed their requirements considerably in terms of what they would and wouldn’t compromise on.

Regardless of the timescale involved and the length of the viewing process, sometimes the final compromise is on the very thing that at first was their most important essential – location.

To investigate this theory further, at Jonathan Waters Estate Agents, we once undertook some research.  We matched a number of people who had purchased and moved into their new property with us against the requirements that they had told us they were looking for on their initial contact with the company.

In over 60% of cases the final purchased property differed considerably in either location or type and size from what they originally told us they were looking for and, in some cases, both.  One couple said they were only looking for an older Victorian character property in the Christchurch Park area and ended up buying a modern home through us on Grange Farm.

I remember my first ever week in estate agency over 25 years ago going on a training course.  Here a very wise and experienced estate agent said “Jonathan, there’s only two things you have to find out from a person who is looking to buy a property.  What is there real motivation and why?”. 

I’ve enjoyed spending time with people and finding this out ever since and have helped thousands of buyers find their dream home, with a few compromises along the way.

At  Jonathan Waters Estate Agents one way we find out more about the real reasons why people are looking for a certain requirement is to accompany a vast majority of our viewings.  This has so many benefits and even if the purchaser hates the house that you are showing them round, neither party has wasted their time.  From the prospective purchasers point of view they have eliminated a property that they previously considered might be suitable.  From our point of view we have spent more time with the viewers in the  process of looking round a property to discover more and more about their motivations and what they’re really looking for.  Much more than anyone could achieve sat in front of a desk in an office.

The owners of a property that’s for sale will always know more than us estate agents about the property – after all, they have lived in it.  Generally, however, we can sell it to potential purchasers better.  Nowhere is this more applicable than with the sale of more expensive properties.

I am currently searching for a property myself.  At the end of the day, everyone buying a home to live in will generally and ultimately end up buying with their heart rather than their head and make some compromises along the way – I know I definitely will.


So if you are thinking of buying your next home why not come and tell us about your list of essential requirements and see if we can help.  Call us on 01473 215576 or visit us at our office at 35 Buttermarket in Ipswich town centre.