A big pet peeve of mine as a REALTOR®, is other real estate agents who show buyers properties that they can’t afford.
Let me tell you something that should not come off as a surprise, more expensive properties are going to be nicer!
So all the REALTOR® is doing is showing those buyers what they can’t have, and creating false expectations.
I had a listing at $369,000.
One REALTOR® wanted to show it, going on about how great her buyers were and how they were going to love it. I asked what they are looking for, and she said that they were looking for something under $330,000.
Another REALTOR®, wanted to show it, but her buyers didn’t want to spend much more than $345,000, and wanted to be under that price point.
Sure, there is always room for some type of negotiation, but when you are in lower price points, that amount of a price drop is going to be smaller than in a larger price point.
My seller was motivated and took a contract at $350,000.
Buyers who are looking at everything, and are looking at properties that they can’t afford are shoppers. It is like someone going into a shopping mall and browsing.
Serious buyers, are the ones who know their budget. They know what they are approved for, along with what they want to spend. (Not everyone wants to spend as much as they are approved for.)
If you are looking to purchase a home, go about it intelligently, and look at properties that you can afford, as well as properties that are in your negotiating windows. (I usually won’t let my buyers look much more than $10k-$20k over their budget.
And, if you have a REALTOR® showing you properties outside of your budget, you need to have a conversation with them immediately about it. Then, if they don’t start showing you properties that you want to see, within your budget, you need to get a new REALTOR®.