A couple of days ago I received an email out of the blue from a buyer I met at an open house about four or five years ago. When we first met he had just started looking, and I think he had decided it wasn't the right time for him to buy. So we lost touch; I didn't do a good job staying connected to him, so to receive this call from him is flattering, to say the least.
He said he's looking for a house, has a few he saw on the internet he'd like to see, and would like to buy something sooner rather than later.
Then he told me that I wouldn't be making much commission on this sale. Huh???
He explained that he really wanted to stay close to $100,000 and possibly buy more of a dream home down the road. Do I still want to work with him? He said he realizes real estate agents don't make much on a $100,000 sale so wanted to be sure I was okay with this.
He reminded me of a comment I had received from another buyer the previous weekend. That buyer called me asking to take a look at a fixer-upper I had listed. When we met at the house, which was listed at $103,000, he told me he called because a friend of his in the business wasn't returning his call. His girlfriend quipped it was because this is "only" a $100,000 house.
I will never understand that mentality of not wanting to work with a "$100,000 buyer." I will be the first to acknowledge that if that is the only price point an agent works in, it will take many, many sold units to be able to keep up with the bills.
But at the same time, these buyers need my help just as much as a $200,000 or $500,000 buyer does. So if they can demonstrate to me that they are serious about and commmitted to buying a house, you can bet I will work with them. Hopefully one day they will call me when they are ready to move up to something bigger or maybe they have a friend or relative who needs my services.
And besides, I was a $100,000 buyer several years ago. To think an agent would have thought less of me because of my price point -- well, I don't ever want someone to feel they're any less important than someone who may qualify for a more expensive home.