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Just curious, I have a broker's license that I use for buying properties. I sell maybe one house a year to friends or relatives. Considering entering into the buyer broker side of the biz, don't want the hassle of listings.
Is it possible to make a decent living as a one man buyer-broker shop?
Can you narrow down the type of clients you will accept and not violate any discrimination laws?
Just curious, I have a broker's license that I use for buying properties. I sell maybe one house a year to friends or relatives. Considering entering into the buyer broker side of the biz, don't want the hassle of listings.
Is it possible to make a decent living as a one man buyer-broker shop?
Can you narrow down the type of clients you will accept and not violate any discrimination laws?
Thanks.
Well it depends on how you plan to narrow them down. Some buyer agents only work with investors, some specialize in first time home buyers, etc.
It is also my policy that you have to be able to read and speak English other wise I refer those folks to a local bilingual agent in town. This is a huge financial purchase and there is no room for communication misunderstandings in real estate transactions.
Thinking along the lines of young singles, mainly men that don't need to look at 70 homes before purchasing.
I think it would be weird to say you only work with men or single people. I also wouldn't assume men don't want to look at 70 houses. Some of the easiest clients I have had have been single women. They walk in and love a house. Done. In fact one bought the first house we looked at. We canceled the rest of the showings for that day.
There are a few agents, called EBA's, that only work with buyers, but they don't limit themselves like that. I would encourage you, instead of limiting yourself by gender or marital status, just work with people you like. If you liked a married couple, why wouldn't you work with them?
I think it would be weird to say you only work with men or single people. I also wouldn't assume men don't want to look at 70 houses. Some of the easiest clients I have had have been single women. They walk in and love a house. Done. In fact one bought the first house we looked at. We canceled the rest of the showings for that day.
There are a few agents, called EBA's, that only work with buyers, but they don't limit themselves like that. I would encourage you, instead of limiting yourself by gender or marital status, just work with people you like. If you liked a married couple, why wouldn't you work with them?
Ditto to what Silver said!
You never know how many homes a potential Buyer(s) needs to see before making a decision. If I "knew" the formula, all of us would only represent those Buyer(s).
I once had a single woman that made a choice within a day and I once had a single man under 30 that saw over 30 homes.
OK, that's why I'm asking. My last two sells were to men that looked at a total of 6 homes. My wife on the other hand, dragged me to 35 homes before we decided, on the SECOND house we looked at.
OK, that's why I'm asking. My last two sells were to men that looked at a total of 6 homes. My wife on the other hand, dragged me to 35 homes before we decided, on the SECOND house we looked at.
OK, that's why I'm asking. My last two sells were to men that looked at a total of 6 homes. My wife on the other hand, dragged me to 35 homes before we decided, on the SECOND house we looked at.
Well the 'good' thing is we're not all alike lol - a lot of women see what they want and that's it. Like I hate shopping in general, so if I see exactly what I want then I buy it. I have friends who have to go to every store in the world, just to end up back at the first store buying what they saw right off the bat.
Now professionally speaking, I've seen the exact reverse where the husbands wanted to see everything on the market, even though the wife loved the first or 2nd home, and that's the one they ended up buying. The old saying 'if mama ain't happy, nobody is happy' - well when it comes to buying a home it's pretty close to the mark.
So JMO, working exclusively with buyers is one thing, but as other posters mentioned restricting your clients to a 'specific demographic' would hinder your practice a lot = not a lot of sales.
OK, that's why I'm asking. My last two sells were to men that looked at a total of 6 homes. My wife on the other hand, dragged me to 35 homes before we decided, on the SECOND house we looked at.
Honestly, I am not sure being a buyer agent is the right thing for you. There is no quick and easy money in real estate. Some buyers are super easy and some are super hard. It's typically not until you start working together that you realize what you have as a client. Unless you start dumping clients looking for "easy" clients, I see you hating real estate.
Maybe working with investors might be a good fit for you. If going to 35 homes was that painful to you, then I see potential problems with clients as you get irritated over them wanting to see 20 homes. They are spending a huge chunk of change. They deserve the right to take their time in their decision and do what is right for them.
Honestly, I am not sure being a buyer agent is the right thing for you. There is no quick and easy money in real estate. Some buyers are super easy and some are super hard. It's typically not until you start working together that you realize what you have as a client. Unless you start dumping clients looking for "easy" clients, I see you hating real estate.
Maybe working with investors might be a good fit for you. If going to 35 homes was that painful to you, then I see potential problems with clients as you get irritated over them wanting to see 20 homes. They are spending a huge chunk of change. They deserve the right to take their time in their decision and do what is right for them.
OP, think this is very good advice by SF. Whether male or female, some people 'need' to see say 35 homes before they decide which home is right for their family because it is a huge decision to make (and a lot of $$) - some only need to see 1 or 2. No way to tell, especially since not all women/men/families are alike, and possibly working with investors as SF suggested might be the better fit for how you want to practice.
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