Buyer And Seller Are Typically Motivated

[Terrel L. Shields]

They BOTH want to.

And in crisis, would it not be typical for one to want out at any price and the other wanting in at a bargain price? I think so...is that typical? Not my definition. But can be construed as such.

 

[Elliott]

97%+ of buyer's are typically motivated to purchase a home, 97%+ of sellers are typically motivated to sell their homes. When people buy toothpaste in a grocery store, they are typically motivated....now there could one in a thousand that has a fetish to eat toothpaste and they do not have typical motivation.

 

[KenAZ]

Buyers that bid too high and hope that the appraiser will cut the value. I call it a fraudulent contract because the buyer is cheating the other bidders that are willing to pay more than him. There is no amount of analysis of the contract that will uncover this, until the buyer complains that the appraisal was too high.

 

[George Hatch]

The word "typical" is abstract and cannot be defined in concrete terms.

I would argue that terms like "Most probable" and "typical" are expressions of analyses that can be quantified.

When 70% of the buyers are bidding over the list price that is what it is. (profound, right?). I fail to see why we'd use an alternate benchmark when the markets are in decline and pricing is falling, which is *exactly* how the controversy over the definition and application of "typical" came up in the first place. Adherents want to use what's typical during a stable or increasing market for all markets whether that's characteristic of the majority of those transactions or not. It's like saying the typical exposure time is always under 30 days whether that's currently the case or not.

 

[J Grant]

And in crisis, would it not be typical for one to want out at any price and the other wanting in at a bargain price? I think so...is that typical? Not my definition. But can be construed as such.

If most sellers and buyers are transacting at good prices and not under duress, then the transaction at low price/ desperate seller and bargain hunter buyer is atypical

However if adverse economic or housing market factors affect an entire market area for any duration, and a larger number of transactions are from "desperate seller/bargain hunter buyer ", then these transactions are typical for that duration when many of those transactions take place and an area is affected..

What is typical is not up to us, it is up to the market and markets have different cycles , decline, recovery, appreciation stability . Which cycle are you appraising in, how are transactions responding to conditions.

 

[The Bob]

122222222

 

[Eli]

97%+ of buyer's are typically motivated to purchase a home, 97%+ of sellers are typically motivated to sell their homes. When people buy toothpaste in a grocery store, they are typically motivated....now there could one in a thousand that has a fetish to eat toothpaste and they do not have typical motivation.

That just ain't right for many reasons unless you are in the most exclusive area of Hollywood , and even then I don't buy it. Tell most real estate agents that and if they don't want to hurt your feelings, they will laugh.

 

[Eli]

If you talk to enough real estate agents, buyers and sellers, it is amazing what motivates many, and it is far from typical in many, many cases.

 

[Terrel L. Shields]

A concrete noun is a person, place or thing that can be detected by the 5 senses. "Typical" is not concrete, thus is "abstract".

 

[Eli]

A concrete noun is a person, place or thing that can be detected by the 5 senses. "Typical" is not concrete, thus is "abstract".

I don't see it that way. I see it in relationship to the subject property and the valuation process as I learned in order to get my license. I see typical in a very similar relationship to most probable, which would be closely tied to the most similar properties to the subject, and the buyer and seller motivations of those properties. An agent involved with those most similar sales can tell you pretty much what is typical or not. Not always, but many times. Agents and the market will tell how atypical sales are in many, many cases. If you don't believe that, Idk what to say, other than you don;t do many personal interviews or study the market very much. If you live in a very homogeneous market, it is most likely very elementary.