professors, politics, relationships, music and whatever else entertained our thoughts of the day. One week I invited a girl on our floor to join us. She was not part of our regular group; she may have hinted that the laughter coming from across the hall sounded like fun.
So she was delighted to be invited and talked about it all week long. She was so eager to be accepted into the group that when it was time to refill the ice, she jumped at the chance to run down the hall to retrieve more ice from the machine. Now, the container was a glass Coca Cola pitcher that I had won in some contest. It was a cool possession, one that I and all my friends valued. She had been gone only a few minutes when we heard the crash of breaking glass. We ran to the door to see her standing amongst shards of glass and sparkling ice. She was not injured. We swept up the mess and returned to our gathering.
Later in the week, the girl brought me a plastic pitcher to replace the one she had broken. Even though she made another apology and replaced the pitcher, I was not happy with the replacement. All of my friends said things like “I can’t believe she bought you that pitcher as a replacement for the beautiful one she broke!”
Looking back, I can see that the poor girl only saw the value of the pitcher as a container. From a purely practical standpoint, plastic may have been a better idea than glass (for her). She did not understand that the rest of us appreciated the beauty and texture of the glass. She probably had no idea that it was a collector’s item.
What does a glass pitcher, broken many years ago, have to do with real estate? Well, it’s about perceived value. Just as the girl who breaks glass pitchers did not understand the value of the Coca Cola pitcher, many people do not understand the value of homes.
A house is just a place to keep your belongings and shelter you from wind, snow and rain, right? No? Is there more to it?
One buyer wants brick or stone; one buyer wants vinyl siding. While we all know that brick and stone are more expensive building materials, the guy who wants vinyl siding is totally sold on the low maintenance aspect of that material. Vinyl siding is valuable in his mind.
What about location? We all know the neighborhoods in our areas where houses maintain, and even increase, in value. Does that mean our buyers know this? Not necessarily. It’s up to us to point out the various aspects of homes and locations, their historical sales prices, and the perceived value of materials, architectural styles, landscaping and décor but each buyer will have their own perception of what is valuable to them. Matching the buyer’s taste with the best possible investment for them at this time in their life is an art form. What say you?
