McLean specialist reveals how affluent house hunters are leveraging increased inventory to drive harder bargains while demanding turnkey properties
A significant shift is occurring in how luxury buyers approach DC-area real estate deals, according to McLean expert Lizzy Conroy of SERHANT, with increased inventory emboldening purchasers to push for both steep discounts and comprehensive move-in ready packages.
“Buyers are getting more aggressive on the negotiating,” Conroy says. “You might see a property priced just under $8 million, they’ll lower it by a million dollars, and buyers will still come in $500,000 under that lower price.”
This heightened price sensitivity marks a departure from recent years, driven by what Conroy sees as increased optionality for buyers. “There’s enough inventory where they can poke around and cherry pick to find the seller that is ready to sell,” she notes.
The result is a market bifurcation: “Only the sellers who really have to sell are selling. The people that are just tire kicking, they’re not getting sold.”
While pushing for deeper discounts, today’s luxury buyers are simultaneously demanding more comprehensive purchase packages, Conroy observes.
“Buyers are asking for all the furniture, every single tech thing that is in the house, they want it all. Don’t take anything with you,” she says, noting this extends to home automation systems and built-in electronics.
Despite driving harder bargains, high-net-worth buyers still move quickly once they find what they want. “Most wealthy people are decisive,” Conroy explains. “They make quick decisions once they see something and they want to do a quick close.”
This creates a complex dynamic for sellers trying to time market entry. “As a seller, if you’re serious, you really should move out, stage the home and be ready to go,” she advises. “These people make a decision quickly and want to get in.”
The evolving buyer behavior is forcing sellers to rethink their approach, particularly around preparation and timing. Conroy notes that sellers need to be ready for quick-close requests, even as buyers take more time to find the right property.
“If you want to sell, you’ve got to work with them,” she says of meeting buyer demands around timing and inclusions. “You just do it and take the deal.”
For sellers navigating this environment, Conroy’s firm SERHANT emphasizes comprehensive preparation while maintaining negotiating flexibility. “We have two in-house stagers just for us,” she notes, underscoring the importance of turnkey presentation.
This approach appears to be resonating – Conroy reports that even luxury moving companies have noticed their elevated service level. “JK Moving, who moved the White House, told me they cannot believe the level of service and things we do for clients in terms of preparing a house.”
As the market continues evolving, Conroy suggests success will depend on sellers’ ability to meet both the aggressive pricing demands and comprehensive inclusion requirements of today’s luxury buyers. Those unwilling to adapt may find themselves waiting longer for the right deal.
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