Buy Alexandria Real Estate: There's No Such Thing as a "Small Sale" in Real Estate

I work the same way Brian. To me it is not the number that is important. What matters most is the people you are helping.

I like your attitude and you summarized the obvious benefits nicely.  Momentum brings momentum.  We often put ourselves into action by focusing on the lower end properties and then the rest comes.  One year we double ended a $23,000 property and a $7.6 million property and treated all parties the same.  Everyone is important to us.  Thanks for the mindset.

I agree with you 100%.  The bottom line should not be the most important factor.  Thanks for a great post.

I have a buyer client right now with an offer pending - $35,000- and I have to tell you, I am having SO much fun with this young lady.  She put the energy back in to me. 

Brian,  I agree.  I once listed a condo for about $50,000 for a young couple who walked into my office from the beach looking like...well, beach bums.  Turned out he owned a stock brokerage firm and over the years we did many deals together and I lost track of the number of folks he sent to me.  So, there's no such thing as a small deal, and there's no such thing as an unimportant person.  Each is special and each is important.

In the long run, your business will be much stronger if you sell 10 $100,000 homes instead of just one $1,000,000-Because of repeat business and referrals!

Brian, you are so right.  Actually small sales have kept me in business since last December.  I find the first time buyer is a loyal client that is very appreciative.   Thanks for the reminder.

Right now, it is the small sales that is keeping the business up in this area.  $200,000 and under is what is moving. 

Brian, you hit the old nail and the head with this one.  I've been doing this so long that I'm doing third and fourth move up sales for some of my clients.  And it's the best kind of business to have.

Brian: Great post. Thank you. I remember attending a seminar by Greg Frost ( a mortage guru) a couple years ago and he reminded us all that to the client it's a big deal. We should never forget that. Thanks for the reminder!

Brian - so very true.  I get a lot of that right now espically with all our first time home buyers.  They all deserve our very best representation.  Excellent post!

I totally agree with you, Brian....no matter how big or small the deal, all of my clients are treated fairly and are given the same amount of enthusiasm and zeal! The bottom line is that I am in this business because I like helping others reach their goals...PERIOD!

Brian if you can prove you are trustworthy in small matters, then you are worthy of handling greater things.

At the end of the day, how we serve our buyer's & seller's matters more than how much we sell.

I've had client's give me the same comment.  I specialize in properties in Lancaster City and these properties cover a broad range of price points.  I feel the same way you do, my job is to take care of my clients and help them to buy the best property for them.  I've been told by other professionals that I should move out of my market to rein in higher sales prices but that's not what my business is about.

kudos to you to for putting your clients, not purchase price, first!

Brian - You said it perfectly ... every sale is important.

As Realtors we need to remember to keep things in perspective.

$100,000 could be peanuts to one person but an absolute fortune to another. Everything is relative.

As quick as we can SPEND a commission . . . ALL of them count. Large or small. :)

Every sale is important, and this is a very good post. Many times I congratulate an agent on their closing only to hear, it was a small one. I don't think it matters as long as we did the best we could for our clients.

Every transaction of mine is very important. I wish long term relationships with all my clients. This is a post worth rereading

Excellent post - & it is so true that it is extremely satisfying to help someone buy a home they are excited about - regardless of price!

I had a very nice couple call to me help with a home purchase, 15k purchase price. 

Didn't matter to me it was all they could afford and need help.

Couldn't agree more! Last year my most rewarding experience was to find the perfect home for a financially challenged single Mom and her young son...The sense of achievement you get with a deal like that is pretty hard to duplicate. It may not make much of a dent in your bank account, but the rewards are as the ad says; "priceless!" No, there's no such thing as a "small sale".

So true, any sale is a sale.....And that's a good thing.

Goodpost today.

Patricia Aulson/portsmouth nh real eastate

Now days any sale is one sale more than you had before. I treat them equal. You never know when they might be the next lottery winners. I would sure like to be and old friend of theirs at that point.

Some agents criticize me for taking on clients looking for reo deals or such. You wouldn't believe the connections I have made as a result. One lovely young woman bought a $23,500 home with me, turned out she ran the REO's for a major local bank! I have sold 6 of these and referred 4 others out of my area to AR agents. You never know! Good post.

Hey Brian,

I never worry about the size of the sale, it's always the person that's important to me. If they are happy, I know someday they will bring me more business. It's very important to take care of your clients no matter there pocket book. :)

-Lisa

Brian, small or large, a sale is someone's home, and very important to them, because that is where they will live and reside with their family.

I like your concept Brian and I feel the same way.  Every client deserves to be treated with professionalism, respect and care.  And those small sales will add up!

Nicely said. maybe sometimes we have to earn the right for the big sale by treating people well and keeping touch as they grow.

Brian-

This is also true in the title and escrow business.  I have had realtors apologize for 'small sales'.  To me there is no such thing!  Really, are there individuals who slack off because it doesn't earn them a lot of money?  That's sad and unprofessional.  For most of us, I would think, what we do is not a job, it is our career. and repeat clients and referrals are the best (no matter what the amount of the sale/purchase was).  Different levels of friendships are developed; and often we may be able to help their family members throughout the years.  It is a wonderful feeling when that trust is earned.  Good post!

I distinctly remember a buyer referral I received in 2007.  She told me that her business was TURNED DOWN by another agent because her home price range was not high enough.  Now, that certainly could have been misinterpreted by the buyer, but regardless of what the agent said, the buyer heard what she heard.  So, I was proud help her.  And, on one afternoon of showings, we found her dream house, and made her $100k offer, which was quickly accepted and we closed in 3 weeks.

Brian,

I can't tell you how right you are!

David and I work with alot of co-ops in our area of Brooklyn, and we have met many agents who will shy away from these deals because they are thinking:  LOW COMMISSION.  That is the wrong attititude!   We just listed a one BR co-op yesterday for only $109,000 and we had an accepted offer immediately - the same day!  If everything goes through, we will be thrilled for our sellers just as wel are thrilled for the buyers who found the apartment they needed.  Isn't our commitment and responsibility supposed to be to our clients' needs and goals?  That's how we see it.  And who knows?  Years later if a "low-priced" buyer becomes very successful and is ready to purchase an expensive home, we believe they will remember us first.  The key is to keep in touch with your customers throughout the years.  Excellent post Brian, and thanks so much for sharing!

Bonnie & David

Brian, I can't tell you how right you are!

David and I work with alot of co-ops in our area of Brooklyn, and we have met many agents who will shy away from these deals because they are thinking: LOW COMMISSION. That is the wrong attititude! We just listed a one BR co-op yesterday for only $109,000 and we had an accepted offer immediately - the same day! If everything goes through, we will be thrilled for our sellers just as wel are thrilled for the buyers who found the apartment they needed. Isn't our commitment and responsibility supposed to be to our clients' needs and goals? That's how we see it. And who knows? Years later if a "low-priced" buyer becomes very successful and is ready to purchase an expensive home, we believe they will remember us first. The key is to keep in touch with your customers throughout the years. Excellent post Brian, and thanks so much for sharing!

Sorry about the double-post; we weren't logged in...

Everyone can be a million-dollar client.  It just takes some a few more closings than others.  As you mentioned, we don't value them any differently along the way.

Great post. Each transaction is important, big or small. I have had many small sales turn out to bring me many, many referrals. It is all about taking care of the client, not about how much the house costs.

The hand holding we sometimes do in this business will come back one hundred times in future business. whatever someone is spending is a big deal for them. Really great post.

If I treated your sale as a small insignificant matter, would you want to work with me again when it was time for your third home?

Hi Brian,

I like how you think!!!  I'm going to let all my clients know about this post.

I treat all sales the same. I do get a lot of sales under $100,000 but these add up.

Brian, I will work any size deal as long as it is in my area, I know I can sell it and I get along with the customer. I may have to adjust my pay scale but I will do the deal.

It's amazing how sometimes the small deals turn into a larger payday - Referrals, repeats, etc.

On the other hand, the $40,000 mobile home can eat your lunch....

Brian - My first year in real estate (1977), I assisted a recent college graduate and newly hired software engineer, in renting an apartment.  One year late he bought his first home through me.  Three years later, he sold and bought again.  During that time frame, he referred 3 other buyers to me.  14 years later, as a project manager, he arranged for a relocation, orientation process that I managed.  Long story short, 21 transactions from a rental.  It is never is or should be about the transaction, but customer service. 

I've had clients make that comment before too and I agree, there are no "small sales" in real estate. Each one is a significant investment and it should be treated as such.

Hi Brian,

I like you thinking and along with many others. You are so right, I'm in complete agreement. I had buyers say something like this not long ago, actually apologizing that it was taking so long for a relatively low sale.

There is not one sale that I can't live without, yet every single one is extremely important to me.

Brian - I work with clients in all price ranges as long as it's in the area that I specialize in otherwise I'll refer it.  This business is all about referrals and I've had $100K sales turn into half million dollar referrals.

Hi Brian -- If only all agents had your perspective, and I feel the same way.  It would do a lot to engender respect for our community as a profession.

I agree.  The smaller sales are usually the first time home-buyers who need even more care as they are so unfamiliar with the process.  Every client is worthy of my time whether they be a renter or a million dollar purchaser.

Hi Brian, today's market allows us to help all price ranges.  One of my agents sold an $18000 house today, while another sold $400,000.  No matter the price, the client's satisfaction is number 1 in our books.  They all producer referrals.

I agree! All sellers and buyers need our help and expertise. Rentals can also grow into purchases down the road. Nice post Brian.

Brian,

what a great attitude! This is also something we believe strongly in. We treat our "higher priced" clients with the exact same respect and attitude as the clients looking for a one year lease.

All the same to us! Great customer service is what we strive for!!

I agree 100%. I'm working with a young couple ready to purchase a 100,000 home. First-time home buyers who are excited and a nervous wreck at the same time. Great to explain everything to them.

My biggest complaint is the selection and how little effort goes in to the process by the listing agent.  One photo?  Sometimes they don't even have one! Somewhat upsetting that the listing agents don't have the enthusiasm of my buyers and myself.

Brian - VERY well said. I agree 100%. I've heard a few of my clients and even friends say the same thing. And I say just about the same thing you said.

Congrats on the feature!

Brian: It is not all about the size of the purchase price. One of my favorite sales was to a family on a $34,000 home. To them, this was a HUGE purchase.. It was THEIR home !

Great point. whatever the deal it is a big deal to the buyer and the seller. Its our job to help with the process, you never know what might come down the road because of top notch service today

Such a great post.  I love the title.  Tomorrow I close on an $80,000 post and I wish all my buyers were like this one because he has been very proactive and is THE most excited.  He won't have a penny to spare but, golly gee whiz is he ever excited!

Whether it is $100 or less or $1mil or more -- to the owner it is their HOME and it is important.

just as I hope to work from a little to a lot financially...we should hope for as much for our clients and hopefully as their wealth grows so will ours with their help

That is so true!  Everyone deserves our best representation.  No matter what the sales price is.

I've been to some closings where my buyer has actually cried with joy because he/she never thought they could buy a home.  That usually happens at a lower priced listing.  I treat all my clients the same no matter what the price but I love it when the clients are appreciative.  It rocks my boat.

One of my smallest sales was the most satisfying to me. It was a $10,000 ex "company home" built on the edge of a mining community. And like Carol says, the buyer cried at settlement.

Brian,

Just this week, the new owners of a ski condo invited me to see the transformation. Forwarded a couple "after" photos to the sellers. They were tickled to see the changes and let me know they funded their son's bar mitzvah with the sale proceeds.

Just reinforces your great point that all real-estate transactions are BIG DEALS!

Brian,

Great post!  I agree with everyone's comments the price doesn't matter it is the satisfaction of helping someone and the future referrals from satisfied clients negate the price of sale completely!  I just sold a home to a past client's son after completing several smaller deals with her in the past.

You are absolutely on  track - the referrals, self satisfaction and more are all a bonus!

Sing it Brian!  

I have never let how much money I make determine if I am going to help a client - this includes whether to show a home or not.  I have had buyer apologise for not spending more.  As I say, I have never sold someone a home, what I have done is given people all the information they need to make a buying or selling decision.

Great post.Closed a deal for $15,000 last year and glad to do it.

I had home electronics stores from 1973-1989. I had people dropping $50K for a custom audio-video system. Lots of money in those days. However, my greatest joy was the first time buyer who got to hear Mozart or Led Zep the way they should be heard. That $700 system was for them, priceless. I measured success by their smiles.   

Every real estate industry professional should not care what the price of the home is.... the client is our main concern. Sad when people are saying they only help such and such.

I agree, a sale is a sale.  Of course I like big sales with big commissions, but I like selling homes period.  Sometimes people buying the small homes are nicer and easier to work with than the high end buyers.

Love this!  Hey, any agents in my area that don't have time for the renters and first time homebuyers?  Send em my way.  Doing a $50,000 VA right now.  They can't ALL Be easy, right?  Also working with a buyer coming to town that was referred by a renter that I worked with last year.  You never know where your next client will come from.

It's funny when I get a client apologize to me for only wanting such a cheap house (that they've seen 50 of).  I tell them I don't care. To me, it's better than sitting in the office all day, and yes, I'd rather them refer me to their friends and family as well for the time I spent and care I gave to them!

I agree with everything you've said.  It always amazes me that someone looking to purchase under $150,000 tells me that other REALTORS(r) wouldn't even talk to them.  They are so appreciative that it just makes you want to work harder for them!!!  Wonder what those other agents are doing these days????

Small and often is better than big and scarce or non existent.  Our board has an award for "smallest house sale"  I won it last year and I might again this year! 

Large or small I sell 'em all! Someone said that so I thought I would run with it! Treat everyone well and treat everyone equally and they'll send you business.  Good post.

I have the same response to people who apologize for being 'too picky'.  There's no such thing as 'too picky' in such a large purchase!

Key words, client for life.

Brian,

It is called DO The Right Thing! If you have helped one person, your work is worth it! It is not ALWAYS about the almighty buck. Thank you for the reminder.

Carol Riley, Albuquerque, NM, Huntington Real Estate

I agree, Brian. In my area, there are a lot of first time homebuyers looking for small, inexpensive homes, but some of these have been my best clients to work with. It just feels great helping firsttime buyers get into a place of their own, because many are so excited to buy, and to find out they can save money on rent.

Brian:  Love your post.  We helped a client, the daughter of a friend, buy a condo for $50,000 - not only did we get a commission we also helped a delightful girl buy her first home.  I can't believe how many home buyers we run into at open houses who say, "we're so glad the house is open we've been wanting to see it but we didn't want told bother our Realtor".  Our response is always, if we were your Realtor it would never be a bother!

Brian, Good post. I feel the same way. I help buyers and sellers and treat them all the same way no matter what price range I am dealing with.

Very true Brian. There are no small sales. We treat people like a million bucks and they will repay you with love, respect and yes...REFERRALS!