Home Selling in 33437>Question Details

Lhoffman561, Home Buyer in Boynton Beach, FL

why is it that RE agents do not seem interested in helping sell/buy homes under $100,000?

Asked by Lhoffman561, Boynton Beach, FL Sat Oct 22, 2011

Help the community by answering this question:


L- Iam sorry you feel "brushed off" by some of us in the industry! Diane Balsara gives
a good outline of problems some buyers create for themselves., But also, the
demands of the "Market Environment " and time "lower priced homes " require
to address "problematics" are challenges for any of us.
These homes "move " rapidly,sell much closer to "asking priice", and have more
"issues" to be resolved to close. Finance,Title,Appraisal, and Code Compliace
require more imput by the Realtor involved. Many agents may be unwilling to
invest or just not "set-up" to address the added demands.
The provision of services to Owner's and Buyers in the " Lower Priced Market "
is a Specialty! Just at the other end of the spectrum from the more recognized practice
in selling " Exclusive and High End property!
All Realtors don't do everything and some are more specialized than others with a
"local focus". Best of Luck!

Web Reference: http://pbc-realcam.com
1 vote Thank Flag Link Sun Oct 23, 2011
I always felt it very silly to worry more about the commission than making a customer for life. My least expensive deal at $27,000 later came back and bought a $200,000+ home. Some Realtors only like to list properties, they will show their own listing but do not as a rule work with a buyer and you may be running into 'listing only' agents. Buyers do go through phases, they start looking at ads, driving around and then get seriously into finding a property; we can usually get a feel for what stage a buyer is at and if they are truly ready to purchase so you could be sending some mixed messages without knowing it. There are a lot of 'professional shoppers' out there that keep looking but never buy so we do have to weed people out or we'd be on the road 24/7 without any sleep. It's almost a hobby for them.

If you want a Realtors true attention let them know that you will be working exclusively with them. Also, be responsive, give feedback and help narrow down your neighborhood etc. It's very discouraging when I've spent hours on the computer researching properties, looking for a pool that faces south only or some other specific criteria, email them out to a buyer, get no response, leave a message only to get not only no feedback but no acknowledgement that they received anything, then, two weeks later they make a phone call because one of my personal listings has now interested them. This tells me they are either not serious or they are running with a pack of Realtors. So, point is, it needs to be a two way street.

Working with a buyer who is unresponsive is like trying to woo a date who is just not into you! : ) Ultimately, you need to find someone who is knowlegeable and you feel confident with and be honest in your answers. Keep in mind we all have the same inventory through our MLS system. The difference is in the experience and expertise of the Realtor you're working with.

You may want to look at what messages you're sending to the Realtor. Do you return phone calls, answer questions openly and give feedback? Do you disappear for several weeks at a time? Have you taken the time to get pre-qualified? Also, are you realistic? There is much competition for lower priced properties right now. Our company does a lot of foreclosure listings and they are gone within two weeks generally with multiple offers. Are you low-balling your price when you put an offer in? Yes, I know some Realtors can't be found with a search warrant and if you tell them you're under $100k they disappear but you'll run into someone who will take you serious and give you the time you need to make the right decision for yourself. There are some wonderful agents in Boynton Beach. You're welcome to view my website and contact me if you choose to, Boynton Beach is my main market area. Best of luck to you!
Web Reference: http://www.DianeBalsara.com
3 votes Thank Flag Link Sat Oct 22, 2011
I know many agents who are happy to work with buyers/sellers who are in the "under $100,000" price range.

But in answer to your question, it's probably because the payoff is so very low, and that makes the hourly rate, for all the work involved, probably in the $1.00 - $2.00 range. They can do better using the phrase "would you like fries with that", and get benefits.
2 votes Thank Flag Link Sat Oct 22, 2011
Alan May, Real Estate Pro in Evanston, IL
Hard to say what's in other people's hearts and minds, but real estate licensees are (usually) independent contractors, and are able to choose for themselves what clients to take on.

My feeling is that clients should keep looking until they find an agent that they're excited about working with, and who is equally excited about working with you!
2 votes Thank Flag Link Sat Oct 22, 2011
You have spoken with the wrong agents then becuase most agents sell homes in any given price range, right now more than half teh sales are at or below $100k. Your best bet is to hire a buyer broker, you can usually do so at no cost to you, they get paid their commission from the fee advertsised in MLS by the listing agent and paid at closing. This way they can get the information for you and you will have someone assisting you through each step of the buying process.

good luck with your purchase
Web Reference: http://www.ScottSellsNH.com
1 vote Thank Flag Link Sat Oct 22, 2011
Any good agent should help you regardless of price. My last 3 deals were under $100,000. Call or email me when you are ready for great customer service while you buy your next home!

Paul Saperstein
1 vote Thank Flag Link Sat Oct 22, 2011
Hi L,
You were working with the wrong agents. You need to work with an experienced local broker who can guide you along the way and provide you information and assistance through each step of the process. I closed sales from $14,000 to $1,200,000 and had fun doing it in every price range. Please let me know if I can help you further.

Violetta Polyakov
Florida Home Consulting, Inc
(561) 767-8864
0 votes Thank Flag Link Sat Sep 29, 2012
Many agents don't feel that the commission is worth their time. I would recommend finding an agent that works in the market or area that you are looking. It is possible to try out two or three agents before selecting one you feel comfortable with. Good luck in your search.
Web Reference: http://www.bporealty.com
0 votes Thank Flag Link Wed Jan 25, 2012
Good Evening,

I am a realtor that does a lot of sales and listings in the Boynton Beach area. I work with buyers and sellers every day with properties under $100,000 and I do it for the referral business that I get from it. But to answer your question, it is because of the compensation. You have to do just as much work for a small sale that you have to do for a large one. I would be very happy to list your property or help you find a property in your price range. Please give me a call so we can discuss your needs further.

Elaine Cole
Coral shores Realty
0 votes Thank Flag Link Sat Oct 22, 2011
Good Afternoon,

As an agent here in Florida for the past 10 years, I have found that there are many questions I am unable to answer when it comes to some of my fellow realtors and their way of doing business. With that said, I like others that have posted here, do love what I do as a realtor, and I have closed transactions for $50k, and ranges much higher. A smart realtor will see the value of a customer and the relationship that can be developed, for the reality is, that a good portion of the work that we do can come from referrals. A client in a lower price range has friends, family and co-workers and if you provide them with the quality of service that they deserve, they will make sure to recommend your services to many others, that may be in much different price ranges.

If of course you see the hesitancy in an agent to work with you, run don't walk in the opposite direction just as quickly as you can, for you know that they will not provide you with the service that you need and deserve. Good luck in your purchase or sale.

Lila Lopez
RE/MAX Advance Realty
0 votes Thank Flag Link Sat Oct 22, 2011
I can only speak for myself and I work with people who want to purchase in various price ranges. I have investors looking to purchase under $100,000 as well as families who want to do the same. It is the same amount of work as any other transaction, however, when you find the perfect property for a family, it's worth the extra effort just seeing their wonderful expressions. I would be honored to help you find that perfect home.
Jen Babacan
Galleria International Realty
Cell (954) 648-7334
0 votes Thank Flag Link Sat Oct 22, 2011
I am not sure who you have talked to, but, you can buy under 100,000 PNC has great loan deals for condos etc under 100,000. And if you want to sell it is a great market to list. Tons of buyers and investors,
Call me I can help you.

Carolyn Arwood

Keller Williams Realty
0 votes Thank Flag Link Sat Oct 22, 2011
If you have ALL CASH, you may want to take the risk at the courthouse foreclosure auction.

If you're not willing to take the risk, and you also cannot pay ALL CASH, you will have to pay close to full retail price because there are many people in your situation trying to capture a bargain.

Have you been working with several different Realtors? You may be better served staying loyal to one Realtor and she'll find the best deal and also give you a high level of service. If you're buying much under $100k, you may want to offer an extra incentive (from your pocket) so your Realtor will eventually be compensated a fair commission. You see, the Realtor may split her commission with her broker so lower priced transactions are not always worth the effort involved (especially if it's an investor attempting lowball offers).

Good luck!

0 votes Thank Flag Link Sat Oct 22, 2011
I don't have any problem working on deals less than $100,00.00, 80% of my sale's are in that range. Some broker think is no worth their time, but I would be glad to help you, What are your needs.
0 votes Thank Flag Link Sat Oct 22, 2011
I think some agents don't think there is enough commission for them to go out or list something under 100K. I have certain things that I ask seller's and buyer's to do when selling under 100K. We usually come to an agreement and everyone is happy.

I don't turn away business. I look for a positive solution for everyone!

If you have any further questions please contact me.

Lu Cohen, Broker/Associates
Realty Associates
Boynton Beach
561 577 6730
Web Reference: http://www.lucohen.com
0 votes Thank Flag Link Sat Oct 22, 2011
My assumption is that it is because they make significantly less money but do the same amount of work. While I am willing to work in any price range, that is not the case for all agents. After marketing costs, my split at my company, gas, etc, if a home sells, I take home less than 1% of the price it sells for. So, if the home is $85,000, I take home $600-$800 BEFORE taxes. For many, that may not be worth it to them.

I see value in every transaction for many reasons, mainly because I love what I do, love helping people, and know that referral business is a potential with each transaction.

I'm sorry you are having trouble finding an agent to help you, ask around and see if anyone can recommend an agent they may have used.
0 votes Thank Flag Link Sat Oct 22, 2011
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