Blog Stories The 85% Rule

The 85% Rule

By Drew Burchette, March 15, 2019

When meeting with a new buyer, after talking through all their criteria of wants and needs, they always ask: is this possible in our price range? My answer is most always YES. BUT, my question back to them is: where are you willing to compromise? Sometimes that answer comes right out…other times we’ve got to tour about a dozen properties before the answer becomes apparent. No matter what price point you are purchasing in, there is ALWAYS compromise to make. In the business we joke that you should expect to get 85% of what you want. Have you ever toured a house that a friend has had custom built? What is the first thing they show you? ANSWER: everything that they would have done differently. Even if you have a home built exactly to your specifications, you are only to get 85% of what you want because you don’t even necessarily know what you want until you do, which is usually after you’ve already been given the keys.

When I met with Emily and Nicky a few months ago, they had a monthly payment that they wanted to stay under and some general criteria about the house and location. We toured everything in the price range and it was clear that they didn’t want a major fixer. We increased the spending limit: still within their pre-approval, but perhaps a hair out for their comfort zone. Within a week, we found a great house in a prefect location. The compromise: there is a new home being built next door, but it doesn’t really disturb their house.

In the end 85% of want you originally wanted can be 100% perfect as long as you have the right mindset.

Drew Burchette

Principal Broker

I arrived in the real estate business over a decade ago and have since helped scores of people buy and sell their homes. The groundswell that I created in my practice is rooted in the relationships that I have nurtured over the years. My style is educational, and I see myself as the coach and leader of your real estate transaction. My coaching is geared towards empowering you to make informed decisions that will lead to your best possible outcome. I excel at asking the questions that get to the heart of the matter which in turn enables a smooth sale process. Away from the office I am passionate about so many things, but it all begins and ends with my family. My boys are both in elementary school and parenting is an ongoing challenge and joy for my wife and I. We love to travel around Oregon, the East Coast, Mexico and beyond. My passion for surfing, kiteboarding, and fishing help to keep me grounded in life. Read more reviews
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