Tuesday, November 13, 2007

The Five Stages of Buying in Chicago

Although not as dire as the Five Stages of Dying (or Grief), Buying in Chicago for many of my cients does take a trained professional to work through these physical and emotional stages:

The Doctor is IN

Denial: "I can't believe my lease will be up", "A two bed, two bath in Lincoln Park can't cost that much... can it?", "What do have for a single family in Bucktown for $500K...there has to be something?", "Can we come in $75K under?", "Multiple offer?".

Anger: "I'm not paying that!", "What are they crazy?", "Tell them we're walking over the GFCI outlets!", They paid what in a multiple offer!?", "If they want to sell it, this is what they get!". "Can't my Realtor find anything with a private roof-top for under $350K!?"

Bargaining: "Maybe they can leave the plasma and surround...", If they need us to close later, than we'll need a $3,000K credit to get out of the lease", "Well, the one on the first floor just sold, so maybe this is a good price", "Do you think the seller's will talk again after we walked over the GFCI outlets?", "Let them know we are interested if the contract falls through..."

Depression: "We should have bought that place.", "There's suppossed to be all this inventory, so why can't we find anything?", "There's nothing coming on the market".

Acceptance: "It looks like we'll have to bump up our price-point to get what we want", If I drop the second bath, I can get the location I really love", "So what you're telling me is the building sold-out for list price?", "I love the penthouse units, but they just won't work with a kid on the way... let's get that duplex-down in Bucktown we liked".

With moral support and the correct treatment, you'll be a home owner too.

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