Miami, Florida
Craig Feigin | Agents Across Income Lines
15576
single,single-post,postid-15576,single-format-standard,ajax_fade,page_not_loaded,,qode-title-hidden,side_menu_slide_with_content,width_470,qode-theme-ver-7.5,wpb-js-composer js-comp-ver-4.5.3,vc_responsive

22 Aug Agents Across Income Lines

In the New York Post article, “Why Hampton’s Real Estate Agents Love
Partying Execs,” I was interested to note that the wealthy elite were not
listing their Hampton homes through real estate agents. Why would people
who wanted to get the most out of their homes settle for FSBO (For Sale By
Owner)?

Anyone that knows me realizes I’m far from wealthy. I’m somewhere in the
middle class, enjoying dining out once in a while, a vacation here and
there, and even yes, the occasional Starbucks. Just today I had the thought
that if my husband and I were ever to sell our home, we would sell it using
FSBO. Who wants to pay five or six percent commission on a two or three
hundred thousand dollar home? That’s a lot of money, especially where we
live. Homes are flying off the market, before they are even officially
listed.

If the cost of selling a home seems outrageous to me, maybe the uber
wealthy is also feeling the pinch. Although it appears in this article the
owners of the much desired Hampton homes are starting to use realtors,
there is no denying the inference they were not using them. I’m curious if
these home owners simply don’t have to list their homes because of high
demand, or if the owners want to save a few (or perhaps several, in their
case) dollars by listing FSBO.

There is a lot of talk on news programs, radio shows, and everywhere I turn
about the wealthy and the “one percenters”. I’m not easily bought into
arguments about how horrible rich people are. Some attitudes of rich
people, sure, they could be better. I’ve also known really kind wealthy
people, and really horrible poor people. What is interesting to me is that
this article puts both rich and those of us who are penny pinchers on the
same scale. Do we use a real estate agent? Do we sell using FSBO? Can we
appropriately vet any neighbor coming into the neighborhood for the future
of the people we are soon leaving? No one wants to be the person who sold
their home to someone who will be a really bad neighbor. You might be
moving, but chances are you will still see and hear from your old neighbors
in some capacity.

While I may never have a home in the Hampton’s – heck, I probably won’t
ever even visit the Hamptons, I do know that people are people, and at the
end of the day, we all have some of the same worries. I won’t be stressed
about my latest jet, yacht, or party in the city, but I can relate to the
people in the Hampton’s in some small capacity.

Source:
http://nypost.com/2016/08/20/blame-hedge-fund-execs-for-no-more-airbnb-in-the-hamptons/

No Comments

Post A Comment