I write for a lot of real estate companies and brokerages and those agencies and individuals are always looking to market the high-priced properties. Of course, why wouldn’t we? The commission on a $300,000 house is much higher than a $50,000 house but then, people still are buying $50,000 houses right?
I once worked for a real estate broker as his buyer's agent and unfortunately I was disappointed to see really poor service when he had to help a couple buy a $120,000 house especially when he had buyers looking at $5-$600,000 houses. They even could tell the difference. But, people have to start somewhere, right? Not all of us can afford a half-million dollar house.
Many real estate searches and customizable IDX pages will allow you to set a list of properties to start at a certain price and most agents and brokers want that price to be at least $100,000 or more depending on the neighborhood and their target market. Of course, anyone can go into an advanced property search and type in a $50,000 home or property and get a variety of listings but then are they going to get the same service when it comes time to buying or selling a house for this price range?
Granted, I get it, you put about the same amount of work into a $50,000 sale as you would a $500,000 sale as far as showing the property and writing up a purchase and sale agreement but when did we stop caring about the family the needs to buy or sell a home price under $100,000?
What about you? Do you put the same care and attention into a home buyer that means a lower-priced property versus one that $4-$500,000? If not, who’s buying these properties and how are they doing it?