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The 100 house Rule? What!!!

By Karen Steed

Real Estate Agent with Tallapoosa, Bremen, Waco, Buchanan, Temple, Carrollton Licensed in GA & AL

February 13, 2013 08:55 AM

I was recently reading some books on homebuying and selling, trying to gain more insight and information from the buyer or sellers point of view. I always think that maybe there is somethinmg new I can learn that will help me be a better agent for clients in Haralson county or Carroll county.

I came across a concept called the 100 house rule. The theory is that a home buyer should see 100 houses before they buy a home.

My first reaction was "What!!! How can I show every Haralson or Carroll county buyer 100 homes!!"

Then I continued reading...

The idea is for homebuyers to look online, really look at, at 100 homes in the area they want to live in and in the surrounding areas so they can recognize a good deal when they see one. They are also supposed to drive the neighborhoods, and get a feel for the areas they are considering.

After viewing at least 100 homes, and driving some neighborhoods, buyers should have a feel for pricing and value. That way, when they hit the bricks with an agent, they already have a little home buyer education under their belts.

Has anyone heard of the 100 house rule, and has anyone every used it with a buyer client?

If you need an agent in West GA or East AL, to assist you, call Karen Steed, Haralson Realty 678-521-3585.

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Comments(18)

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Beth and Richard Witt

New York, NY

The best Retired Brokers !!!!

I've never hear of it... (34 years in the business) and I've never used it... soon buyers will have little use for us... I know that's negative thinking but what can we really offer these day that they can't get on line... Yikes...

Feb 13, 2013 08:58 AM

Karen Steed

Tallapoosa, Bremen, Waco, Buchanan, Temple, Carrollton - Tallapoosa, GA

Associate Broker Haralson Realty

HI Richard and Beth - We offer the ability to actually read the contract, and the addendum - and in most cases understand what they mean. I have found out that not everyone can do that!

Feb 13, 2013 09:05 AM

Janelle Ancillotti

Seneca Home Staging - Syracuse, NY

HSR Certified Home Stager, Syracuse, NY

I can't imagine visiting 100 houses in person when there are only 24 hours in a day.

Feb 13, 2013 09:13 AM

Trisha Bush-LeFore

Preferred Properties Land & Homes - Walla Walla, WA

Providing Realtor Services in the Walla Walla Area

I'd be curious to see what positive experiences agents have hadd with this rule. Seems somewhat odd to me. The internet is so available to everyone, maybe it can be done in that sense.

Feb 13, 2013 09:17 AM

Karen Steed

Tallapoosa, Bremen, Waco, Buchanan, Temple, Carrollton - Tallapoosa, GA

Associate Broker Haralson Realty

Janelle - That was my thought - No way could I show 100 houses to one buyer! That's where the internet comes in.

Trisha - I think the internet is the only way to see 100 houses. By the time you saw 100 in person, the good ones would be gone.

Feb 13, 2013 09:21 AM

Adrian Willanger

206 909-7536 AdrianWillanger-broker.com - Seattle, WA

Profit from my two decades of experience

Hi Janelle, I haven't heard of it, but it does make sense for buyers to familiarize themselves with the areas their interested in.

Feb 13, 2013 09:36 AM

Kathy Sheehan

Bay Equity, LLC 770-634-4021 - Atlanta, GA

Senior Loan Officer

Really? If an agent tried to show me 100 homes I would conclude that they were not listening to my wants and needs.

Feb 13, 2013 10:18 AM

Karen Steed

Tallapoosa, Bremen, Waco, Buchanan, Temple, Carrollton - Tallapoosa, GA

Associate Broker Haralson Realty

Adrian - I thik that's the point of seeing 100 homes mostly online - to get a feel for the market.

Kathy - I don't think any agent should show 100 homes to a client. A home buyer should look at 100 homes online, to get a feel for the market. After reading the post again, I can see that it was not made clear that the buyer should look at these online. Who would have time to actually see 100 in person?

Feb 13, 2013 10:27 AM

Virginia (Ginger) Schott

Cabins & Canoes - Port Jervis, NY

Assoc. Broker, CBR, CHMS

I've never heard of it, but I have heard that many buyers spend at least 1 year looking on the internet before they call a realtor. given that they probably do look at 100 homes

Feb 13, 2013 10:31 AM

Karen Steed

Tallapoosa, Bremen, Waco, Buchanan, Temple, Carrollton - Tallapoosa, GA

Associate Broker Haralson Realty

Hi Virginia - If someone has spent a yer looking online, I am sure they have looked at way over 100 homes.

Feb 13, 2013 10:52 AM

Kathy Streib

Cypress, TX

Retired Home Stager/Redesign

Karen- I'm not a Realtor but I have bought a lot of homes in my past. Never did I look at 100 homes even when it was a seller's market.

Feb 13, 2013 10:56 AM

Mark Loewenberg

KW of the Palm Beaches - Palm Beach Gardens, FL

KW 561-214-0370

sure see 99 with another realtor then come see mine as it is the best to top off the 100 list!

Feb 13, 2013 11:08 AM

Anna "Banana" Kruchten

Retired Broker/Owner - Phoenix, AZ

602-380-4886

Karen I agree - look online for as long as you like!! Then ask for a referral to an agent that understands their market and knows how to best represent your best interests in their current market. In Phoenix buyers need to be well qualified and ready to make an offer or they'll miss out to many other buyers waiting to buy and most likely have missed out on a few deals as well.

Feb 13, 2013 11:51 AM

Ray Stockwell

ZipperAgent - Boston, MA

Director of Marketing

Karen,

Never heard of it but it makes sense to me. Lets try a little numbers game. Pretend you are a buyer seeking a two bedroom home in my market Boston, MA

There are currently 313 two bedroom single family homes and condos on the market.

Lets say our buyer only wants a condo not ready for a single family home. That leaves 304.

So talking to them we figure out that they want to be in the South or West part of the city but still inside Boston. The number drops to 127.

They can afford no more than $500,000 that give me 96 potential properties.

The numbers make sense to me.

Feb 13, 2013 07:55 PM

Karen Steed

Tallapoosa, Bremen, Waco, Buchanan, Temple, Carrollton - Tallapoosa, GA

Associate Broker Haralson Realty

Kathy - In my county there are not even 100 homes on the market. But the idea is a good one to help educate home buyers about values in an area. And I am sure in some areas, 100's of homes are on market.

Mark - wouldn't that be nice!!

Anna - Nothing teaches buyers to move quickly like missing out on a few good homes because they delay. Even in my area, the good ones go fast.

Ray - Good point. You have a much larger inventory. In my county there are less than 100 homes listed on mls. Most buyers are looking for months before they finally find the right home.

Feb 17, 2013 09:59 AM

Kwee Huset

Kwee Huset Realty - Venice, FL

Venice Florida Homes For Sale

Hi Karen, first time I heard of the 100 house rule. Find a honest agent you can trust and save your time & enjoy life.

Mar 06, 2013 12:13 PM

Karen Steed

Tallapoosa, Bremen, Waco, Buchanan, Temple, Carrollton - Tallapoosa, GA

Associate Broker Haralson Realty

Hi Kwee - I think it's good for buyers to start the search online and look at 100 houses, but I don't think an agetn needs to show all 100 to them.

Loved the jellyfish story...No matter how bad things are, at least there is not a jellyfish stuck in my behind.

Mar 07, 2013 03:54 AM