Do agents show higher priced homes to buyers to compare amenities?

Asked by Wally10310, Staten Island, NY Wed Sep 25, 2013

I want to see some houses in the 800K to 1M range so I can compare what is on the market but my agent says I am only qualified for up to 800K, so it would be a waste of both our time to look at those higher priced homes. What if one of those higher priced homeowners would be willing to reduce their price. Why shouldn't I be able to I look at them all? So the agent might waste more of her time, isn't that my decision not hers?

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Bill Eckler’s answer
Bill Eckler, Agent, Venice, FL
Thu Sep 26, 2013
So it comes down to your willingness to take advantage of an agent's time for the purpose of window shopping. Showing property to customers that is slightly above their price range is a very common occurrence. When you are talking $200,000 above your price range many agents may elect to "pass."
0 votes
Steve Nash, Agent, Clarksville, TN
Thu Sep 26, 2013
I understand where you are coming from on the surface. The issue comes into play with local market knowledge which any agent should have if they have been doing it a while. This is what is going on behind the seens.
1st. By showing you homes your not qualified for an agent 99 out of 100 times would be setting you up for disappointment. When in your case then you would have to "settle" for a home in the 800,000 range because you did not qualify for the one you really liked.
2nd. In certain areas sellers require proof of financing before allowing a potential buyer to view there home.
3rd. Would a seller take less, yes that happens (reasonable offers). However your agent would probably know the market conditions on sellers taking 20% less. Each seller circumstances are different and your agent may have in fact already contacted the sellers agents on the ones you inquired about and were told "no their sellers would not".
4th. This is our profession. Our value is in our time and knowledge. Remember you chose your agent for their reputation, professionalism or based on a referal. Don't forget there are only so many hours in a day and she has other clients who value and respect her thoughts. You may be willing to waste your time, however wasting her time is not your decision.
Lastly, talk with her about what she feels a more realistic up search may be and compromise. For instance 850-900k this may not be exactly what your wanting but it is a good starting point. Hope this lends a different insight.
1 vote
Martina Ryan, Agent, Flushing, NY
Thu Sep 26, 2013
Ask your agent to send you paperwork for the higher priced properties so you can compare the difference on paper. This way you don't waste your time, the sellers time & the agents time.
0 votes
Candy L., Home Owner, Ross, OH
Thu Sep 26, 2013
I just purchased my home 6 weeks ago. I was approved for 120,000.00 . I actually got on multiple sites and gave info to my agent. I knew what I wanted. I looked at homes from 80,000-160,000. The home I purchased was a estate home and they were asking 159,000. I offered 112,000 and they pay 3,000 towards closing cost. Two days after I made a offer they accepted it. I was amazed and shocked. The homes surrounding mine range from 160,000 to 325,000. I just wanted to share my experience in regards to looking at homes out of my price range. I would say don't look at all homes above your price range but it does not hurt to look a a couple in between. You may get lucky, like I did. The worst that can happen is you throw a offer out and they say no. You have nothing to lose, just don't get your hopes up in case it does not work out. Just relax and enjoy finding your new home.
0 votes
Bev West, Agent, Greeley, CO
Wed Sep 25, 2013
There are a lot of issues to take into consideration. You need to put yourself in the seller's position. Would you want buyers coming through your home knowing they are not qualified to buy it? When an agent lists a seller's home they usually inform the seller that we as agent try to screen our buyers before bringing just anyone through their home. Also, in today's market, chances of a seller taking a huge reduction of @$200,000 (if you are looking at 1M homes and only qualified to pay $800K) is probably not going to happen. Our market has changed. While you are spending your time looking at homes out of your price range, you are probably loosing out on other homes that you are qualified to buy. Do some of your shopping online at 1M homes and do your comparisons.

Most buyers get a little upset when their agent are showing them houses that are not in their price range. Trust your agent.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Wed Sep 25, 2013
Curious as to what you are trying to compare...focusing on the properties within your budget may better serve you, highly unlikely that a seller would be willing to drastically reduce his/her price to meet your financials...
0 votes
Deborah Brac…, Agent, STATEN ISLAND, NY
Wed Sep 25, 2013
Trust your agent. She knows what she's doing, she's showing you homes within your price range. Believe me, if there is one that's way over that range that's EXTREMELY negotiable for whatever reason, we would know about it and show it as well because we do our research. REMEMEBER, WE WANT TO FIND YOU THE RIGHT HOME!
0 votes
sell it now…, Home Seller, Staten Island, NY
Wed Sep 25, 2013
I hope my broker is showing my property to everyone that wants to see it. You never know what might spark an interest. Maybe even an unqualified buyer might talk to a friend who might be interested. The agent might see the house for the first time and realize after something there might interest a client that didn't consider the property before. I say tell her to show them all or get out of the business.
0 votes
Melissa Goss, , Center Moriches, NY
Wed Sep 25, 2013
It likely would be a waste of time to look at homes that far out of your price range. You are $200,000 off... yes, there may be that 1 million dollar home that will take 200k off to make a sale... but weeding through them all is like finding a needle in a haystack. Maybe somewhere in the $850 range would be OK... but even then, you are talking a big cut
0 votes
Jill Subes, Agent, Staten Island, NY
Wed Sep 25, 2013
It's both of your decisions. Before I showed a home $200,000 more then what the potential buyer is pre -qualified for, I would call the listing agent of the 1,000,000 property and ask if the sellers are very negotiable..Otherwise you are both wasting your time.
0 votes
Alex Levin, Agent, Staten Island, NY
Wed Sep 25, 2013
First of all: good luck with your home hunt!
He's the situation: you Agent is right. Market is more of a Sellers market, then Buyers.
Inventory is low and demand is pretty high. I have a few Buyers myself in the same price range and we have a problem finding something worth a while. I forgot what was the last time I saw a drastic difference between the asking price and the selling price. Don't get me wrong- you should bargain the price. Problem is that you are deceiving yourself: you will see the house of your dreams and it priced well above your price range. How can you look at the lesser house? I don't believe in miracles, get real and look at the houses within your price range- in your case $850K the most
0 votes
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