Evolution of the Buyer

Carlos Lobato, Sales Associate, Coldwell Banker Miami Lakes office By Guest Contributor Carlos Lobato, Sales Associate, Coldwell Banker Miami Lakes office


Buyers are evolving, and for the better. Up until the beginning of 2009 an abundance of inventory, coupled with a 'sky is falling’ mentality lead many to believe that the real estate market was theirs for the taking. They were now in the driver's seat! And as a result they were submitting such ridiculously lowball offers that most often didn't stand a chance of being considered. They made these obscene offers very often because "a friend of a friend of a friend" got such a phenomenal deal on a home that it must be possible to do. And they tried it again, and again...and again — only to ultimately be disgusted, disillusioned, and fed up with the idea of buying altogether.

Fast forward to today. Buyers are stepping up to the plate! They're actually making very competitive offers. That mentality of "stealing a property" is all but gone. In short, there's a noticeable evolutionary improvement over the buyer of just 12-18 months ago. Now if we could only get the sellers to come to grips with what today’s market values really are. This will take a little more time, yet the sellers too will go through this necessary evolution, and we'll have a happier healthier and more balanced market as a result.

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