Val Evans

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John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

I'd list a tent if it came down to it and market it to the fullest just as I would a million dollar home. 

Nov 10, 2015 08:16 PM
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Evelyn M Epperson
Coldwell Banker Residential Brokerage - Johns Creek, GA
A Tradition Of [Excellence, Trust & Service]

Paperwork the same but the the seller & buyers are very different.

Nov 10, 2015 09:12 AM
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Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

I normally work much harder on the lower end. Often getting these lower end buyers qualified is tough. They often have less resources which makes repairs a big issue. Typically the sellers are in the same boat. With the higher priced homes, typically buyers and sellers are educated about the process and take things more in stride. 

Nov 10, 2015 09:01 AM
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Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

Same amount of paperwork but more time on market requires a finely tuned working relationship with the Sellers.  This is usually known in advance by the Sellers or we have a good discussion about it at time of listing.  I prefer high-end homes with people experienced in buying and selling with very clear expectations.

Nov 10, 2015 10:36 PM
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Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Much of that is the same regardless of price point. What changes is the cost of marketing a home in different price points. And of course it depends on your market. If it takes two years to sell a $3m home, I'd rather do a bunch of $300K homes in those two years and earn some money.

Nov 10, 2015 08:28 PM
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Depends on the customer! Sometimes some are more needy of attention then others! Everybody gets my best!

Nov 10, 2015 07:32 PM
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Mark Don McInnes, Sandpoint-Idaho
Sandpoint Realty LLC - Sandpoint, ID
North Idaho Real Estate - 208-255.6227

If I should ever list a 3 million dollar property I will get back to you.   Mark

Nov 10, 2015 01:56 PM
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

It often (not always) takes more time to find a house for the $3million buyer - they are understandably picky.  Then again, some of the $300,000 buyers are new to the process and take a lot more hand holding.  But wth high end buyers, there are fewer bidding wars once you do find the perfect place.  The moarket is a bit slower in the upper end.

Nov 10, 2015 10:45 AM
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Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

If we had a 3M home and I was fortunate enough to have the listing, I would do every thing possible to sell it.  But then, I do that will all my listings.

Nov 10, 2015 09:17 AM
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Val,

Same work, different lifestyles and needs. A

Nov 10, 2015 09:17 AM
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Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

It is always fun to sell an expensive home but they can take longer to sell and some of the sellers can be very high maintenance. 

Nov 10, 2015 09:17 AM
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Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

I can't imagine selling a 3M home, our luxury properties start at $450,000 and we only sell about 20 of those and up in a year.

Nov 10, 2015 08:52 AM
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Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

What's involved depends more on the property than the price. Some take a lot more effort and maybe more marketing. I prefer a mix of price points.

Nov 10, 2015 08:52 AM
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Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Same.

Nov 04, 2019 07:14 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

I like big clients, but we do not have 3 million dollar homes here.

Feb 02, 2019 11:18 PM
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Captain Wayne - Rowlett Real Estate School
Rowlett Real Estate School - Panama City, FL
Rowlett Real Estate School / Owner and Instructor

Looks like you have some good answers!  I Hope you had a safe and happy Veterans Day and have an even better day tomorrow.  

Nov 11, 2015 03:50 PM
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Rob Thomas
Prestige Homes of The Tri Cities, Inc. CALL....423-341-6954 - Bristol, TN
Bristol TN-VA & Tri Cities Agent, ABR, GRI, e-Pro

I tell people all the time that you spend just as much time selling a 50K home as you do a million dollar home!

Great question!

Nov 11, 2015 07:23 AM
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Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

The workload should be similar, although the marketing would be via different channels.

Nov 11, 2015 04:59 AM
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Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Val, the reality is totally market driven. Year to date we've had 6,859 properties sell between $250K and $350K with only 233 closed between $2.5M and $3.5M. Without factoring in the time differences of DOM the former is a much more doable prospect for most associates.  

Nov 11, 2015 03:25 AM
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I think definitely the paperwork (brochures) and marketing areas are different with higher end properties.    My brochures for the $300K and $800K are definitely different.    

Nov 11, 2015 02:15 AM
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Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Val Evans The procedures and paperwork are the same. It may take longer to market and sell a $3MM dollar property. Selling fifty vs. five would require a lot more time and work. I would say mix it up and work smarter and not harder.

Nov 11, 2015 01:54 AM
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Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Aha!  Great question that I often reflect on.  Here I would say that the $300K to $800K range (perhaps slightly higher) would require a similar amount of time, procedures and paperwork.  Higher than that MAY require marketing specific to higher end homes - therefore more expense and time.  Unfortunately - owners of properties over $1M who have done very well in their own area of expertise often mistakenly believe that this equates to them "knowing better" as to how to market and sell their home than the real estate broker they hire.  We don't play that game.  We have a process that works.  If you hire us, that's how we roll.

To answer your question - preferred price range would be $250K-$700K - 50 a year would be great - 20 a year would be "OK".

Nov 10, 2015 10:59 PM
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Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

no, only the personalities!!!! one category is more "needy".... 

Nov 10, 2015 10:42 PM
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Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Great question, and on the surface you would think you are comparing apples to apples.

But that would not be true.

The environment, persuasion centers, conduits, motivation and time lines of the ultra rich and the shelter seeker require entirely different tools and skill sets.

If you look at the active agent/Sold ratios of these segments you will find them to be identical in both segments. 

In the ultra rich segment, more of the agents will be aligned with part-time priorities than the shelter seeker category.

Nov 10, 2015 09:32 PM
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Procedures and paperwork will be the same . The energy required also depends on the seller. Some sellers can drain you of energy while some are not so demanding.

Nov 10, 2015 09:22 PM
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Richard Weeks
Dallas, TX
REALTOR®, Broker

I have never noticed and difference in the amount of work necessary to get a property sold.

Nov 10, 2015 09:07 PM
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TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 Good Wednesday morning Val. I don't see any reason that they should change.

Nov 10, 2015 05:55 PM
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Price range is the same here. And to tell you the truth, I feel like working with 300k( your example) is more time consuming sometimes since it is usually a first time entry client( seller or buyer), you know what i mean:) People who can afford 3 mln house know exactly what they want and how they want it.

Nov 10, 2015 03:47 PM
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I'm not moving, and there are no 3M dollar homes in my market.  500k here is luxury and I do a bit more vetting of buyer pre appointment than a 80k house.

Nov 10, 2015 01:22 PM
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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

A 300K home in my area is a fairly nice home. I tend to work harder on the lower end deals. You know the ones around 100K. I think that's because in that price range every dollar counts to the buyers and sellers and they will argue over every nickel. 

Nov 10, 2015 12:57 PM
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Val Evans some areas it is easier to sell 50 homes at $300K!

Just remember, selling high end property should demand extra efforts and time - and more money for marketing as you'd want to market to different segment.

As far as time is concerned, some basic paperwork may take the same time - however, you'd spend more time on $3M listing as compared to $300K listing, I am sure.

Nov 10, 2015 12:29 PM
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Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

I generally find it easier to work w/ higher end buyers.  The work is generally the same though (for us).  I'd rather have larger size jobs/higher end homes...it leads to more repeat and referral w/ the types of buyers I prefer to work with.

Nov 10, 2015 09:28 AM