How often do you show your clients a home which is 'well outside' the price range they are approved for?

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Praful Thakkar, Metro Boston Homes For Sale (LAER Realty Partners)

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Rainmaker
1,677,946

John McCormack, CRS

Albuquerque Homes Realty - Albuquerque, NM

Honesty, Integrity, Results, Experienced. HIRE Me!

Rarely.

We get them approved or preapproval and we know what the goal is.

Apr 30, 2015 01:08 AM

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2

Sandy Padula & Norm Pa...

, CA
John McCormack, CRS

Albuquerque, NM

Rainmaker
3,345,797

Sally K. & David L. Hanson

EXP Realty 414-525-0563 - Brookfield, WI

WI Real Estate Agents - Luxury - Divorce

Never.....everything they look at after that won't measure up to what they saw in a house they could not afford.

Apr 30, 2015 01:47 AM

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1

John McCormack, CRS

Albuquerque, NM

Rainmaker
1,756,017

Sandy Padula & Norm Padula, JD, GRI

HomeSmart Realty West & Florida Realty Investments - , CA

Presence, Persistence & Perseverance

Very rarely. If by the time we are in the car with them, if their list of homes is not on budget, then it is time for another 'sit down'

Apr 30, 2015 01:39 AM

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1

John McCormack, CRS

Albuquerque, NM

Rainmaker
443,270

Cindy Davis

SD Home Source Realty - San Diego, CA

Never would I show a home outside a buyer's price range.

Apr 30, 2015 01:22 AM

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1

Sandy Padula & Norm Pa...

, CA

Rainmaker
630,351

Ajay Pandya

e-Merge Real Estate Unlimited - Columbus, OH

Realtor Ajay Pandya

Many times, they have money - just don't want to open up.

May 07, 2018 11:41 PM

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Rainmaker
3,074,716

Tony and Suzanne Marriott, Associate Brokers

Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ

Coldwell Banker Realty

Sally nailed this one!

Oct 22, 2017 05:30 AM

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Rainmaker
699,327

Chris and Dick Dovorany

Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL

Broker/Associate at Premiere Plus Realty

Buyers are liars. If they say they have $700k they really have at least $900k and with negotiating they get the more expensive house "for a deal".

May 06, 2015 12:40 AM

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Rainmaker
4,322,295

Praful Thakkar

LAER Realty Partners - Burlington, MA

Metro Boston Homes For Sale

I think the show wants to promote fixer upper - so I'd say, I'd stick to the books and paper pre-approval! May be up to 20K more, but that's it.

May 03, 2015 03:03 PM

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Ambassador
2,188,554

Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES

Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL

Florida Waterfront and Country Club Living

Hardly ever, it could potentially turn them off anything that is available in their price range.

Apr 30, 2015 12:08 PM

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Rainmaker
3,986,473

William Feela

WHISPERING PINES REALTY - North Branch, MN

Realtor, Whispering Pines Realty 651-674-5999 No.

Almost never, and only when it has been on the market a long time and there is a possibility of a low offer working.

Apr 30, 2015 10:36 AM

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Rainmaker
1,266,593

Sam Shueh

(408) 425-1601 - San Jose, CA

mba, cdpe, reopro, pe

only to calibrate them that the home is above their affordability.

Apr 30, 2015 05:14 AM

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Rainer
4,999

Kimberly Williams-Bookert 864-416-1647

KB Global Solutions LLC. - Greer, SC

www.kimberlybookertrealestate.com

NEVER! Who does that and why? if they are only approved for a certain amount........I gotta follow this blog post. Good one!

Apr 30, 2015 04:02 AM

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Rainer
21,695

Lillie Painia, ABR,NHC,TAHS,SRS

Lillie L. Painia, Tri-R Realty Group - Missouri City, TX

Not ever, and I explain to them the reasoning behind my decision, being exactly what Sally and David stated.

Apr 30, 2015 03:23 AM

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Rainmaker
1,713,581

Joe Pryor

The Virtual Real Estate Team - Oklahoma City, OK

REALTOR® - Oklahoma Investment Properties

Very good question. The answer is no until I get permission from the client to move to the higher price range. Normally I may do 3% to 5% over their budget but currently, everything in OKC is selling within 34 days at 98% of list.

Apr 30, 2015 03:00 AM

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Rainmaker
1,466,257

Michael Setunsky

Woodbridge, VA

Your Commercial Real Estate Link to Northern VA

Praful Thakkar Never! I believe they do this to show what it will cost for the buyer's to get everything on their wish list. So to get all of this within their budget, they have to do a rehab.

Apr 30, 2015 02:56 AM

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Rainer
67,369

Evelyn M Epperson

Coldwell Banker Residential Brokerage - Johns Creek, GA

A Tradition Of [Excellence, Trust & Service]

Never - I will always stay in their price point. Most of the time they start with a low price point and then go up either 10K or 15K.

Apr 30, 2015 02:34 AM

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Rainmaker
472,878

Toby Barnett

KW North Sound - Marysville, WA

Toby Barnett

Very rarely as it's counter productive and sets false expecations.

Apr 30, 2015 02:32 AM

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Rainmaker
5,585,039

Barbara Todaro

Retired...Mentoring Newbies - Franklin, MA

Previously Affiliated with The Todaro Team

that's a waste of time..... this is a seller's market....there's no point in showing a home and giving a lowball offer....or showing an overpriced turkey and offering fair market value....

Apr 30, 2015 02:20 AM

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Rainer
83,481

Amy Gutschow

RE/MAX - Sheboygan, WI

Professional Real Estate

I don't. That is why they must be preapproved first. Once they see granite and stainless steal nothing looks good again in their price range. Thats not fiar the owner who prepared for a showing and hoped they would be qualified to buy or to the buyer who cannot find somrthing they like now that they see more than they can afford.

Apr 30, 2015 02:00 AM

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Rainmaker
1,153,799

Kevin J. May

Florida Supreme Realty - Hobe Sound, FL

Serving the Treasure & Paradise Coasts of Florida

I don't Praful Thakkar. Plenty of other aspects of the business can waste time but pursuing those that are unproductive is not recommended.

Apr 30, 2015 01:55 AM

Upvote

Rainmaker
1,630,628

Thomas J. Nelson, REALTOR ® CRS,ABR,PSA,RCS-D, CFSP

Big Block LPT Realty 858.232.8722 - La Jolla, CA

Serving Coastal San Diego, Veteran's & Seniors

99% of the time NEVER, most of my buyers a re pre-screen and go through my Buyer's Orientation, so that would never occur.

However, for that unrealistic buyer, I will by design, show them the ideal house they described, without considering the price or revealing it until we're there. Then when they confirm "this is perfect!" I reveal the asking price which is typically $50-$100K (pending buyer) over their approved loan amount/purchase power. I use the 1% for a reality check.

Apr 30, 2015 01:48 AM

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Rarely.

We get them approved or preapproval and we know what the goal is.
Never.....everything they look at after that won't measure up to what they saw in a house they could not afford.
Very rarely. If by the time we are in the car with them, if their list of homes is not on budget, then it is time for another 'sit down'
Buyers are liars. If they say they have $700k they really have at least $900k and with negotiating they get the more expensive house "for a deal".
I think the show wants to promote fixer upper - so I'd say, I'd stick to the books and paper pre-approval! May be up to 20K more, but that's it.
Hardly ever, it could potentially turn them off anything that is available in their price range.
Almost never, and only when it has been on the market a long time and there is a possibility of a low offer working.
only to calibrate them that the home is above their affordability.
NEVER! Who does that and why? if they are only approved for a certain amount........I gotta follow this blog post. Good one!
Not ever, and I explain to them the reasoning behind my decision, being exactly what Sally and David stated.
Very good question. The answer is no until I get permission from the client to move to the higher price range. Normally I may do 3% to 5% over their budget but currently, everything in OKC is selling within 34 days at 98% of list.
Praful Thakkar Never! I believe they do this to show what it will cost for the buyer's to get everything on their wish list. So to get all of this within their budget, they have to do a rehab.
Never - I will always stay in their price point. Most of the time they start with a low price point and then go up either 10K or 15K.
Very rarely as it's counter productive and sets false expecations.
that's a waste of time..... this is a seller's market....there's no point in showing a home and giving a lowball offer....or showing an overpriced turkey and offering fair market value....
I don't. That is why they must be preapproved first. Once they see granite and stainless steal nothing looks good again in their price range. Thats not fiar the owner who prepared for a showing and hoped they would be qualified to buy or to the buyer who cannot find somrthing they like now that they see more than they can afford.
I don't Praful Thakkar. Plenty of other aspects of the business can waste time but pursuing those that are unproductive is not recommended.
99% of the time NEVER, most of my buyers a re pre-screen and go through my Buyer's Orientation, so that would never occur.

However, for that unrealistic buyer, I will by design, show them the ideal house they described, without considering the price or revealing it until we're there. Then when they confirm "this is perfect!" I reveal the asking price which is typically $50-$100K (pending buyer) over their approved loan amount/purchase power. I use the 1% for a reality check.