Lowe’s SoloPro Partnership Bad For Home Buyers

Home / Latest News / Lowe’s SoloPro Partnership Bad For Home Buyers

Lowe’s SoloPro Partnership Bad For Home Buyers

Lowe’s SoloPro Partnership Bad For Home Buyers

Buyer beware… What makes Lowe’s SoloPro Partnership Bad For Home Buyers in my professional opinion is the possibility of inexperienced real estate agents counseling inexperienced home buyers on the largest purchase of their lives.

Lowe’s SoloPro Partnership Nickel and Diming Campaign

SoloPro is a service that unbundles real estate services and gives buyers a 3 percent rebate when they buy a home through their service.  SoloPro has recently announced that it has received a strategic investment from home improvement giant Lowe’s venture arm.

Lowe’s SoloPro Partnership Explanation of Services

SoloPro claims that unlike a traditional real estate firm, they aim to make the real estate market supposedly more efficient by unbundling services. They feel that perhaps you may only need an agent to see a house that’s listed for sale, but you’re already doing all the work of finding the house yourself anyway. SoloPro says you can get an agent to do that for you and you only pay the agent a fixed price. Most agents on the service charge between $0 and $30 for this right now. Other services real estate agents can offer include phone consultations, pricing a home, or attending a walk-through, inspection and closing.

They claim to submit an offer, you then work with a SoloPro partner agent, and once the process is complete, the company will refund you the 3 percent commission a traditional agent would usually receive.

Lowe’s SoloPro Partnership Bad For Home Buyers According to Beverly Hills Real Estate Agent

As an experienced Realtor in Beverly Hills I firmly believe Lowe’s SoloPro Partnership is Bad For Home Buyers I can’t believe any smart home buyer would trust as I said before, what is perhaps the most important purchase of their lives to a Lowe’s Solopro agent whose only source of income might be the $30 he is receiving from showing the property to the prospective buyer.

Lowe’s SoloPro Partnership Bad For Home Buyers Seeking 3% Rebate

A Lowe’s Solopro buyer may receive 3% of purchase price at the close of escrow but without that savvy of an experienced real estate professional negotiating on the buyer’s behalf that same buyer may lose much more than 3%.

On top of that without the expertise of an experienced real estate agent the buyer may overlook important items listed on disclosures and inspection reports which can often be used for further negotiations.

Lowe’s Solopro may lure home buyers by enticing them with a 3% of purchase price rebate and some may in fact take the bait, but at what cost?

Lowe’s SoloPro Partnership Bad For Home Buyers Good for Service Peddlers

I find it hard to believe that an experienced real estate agent would be peddling his services in such a manner unless he has been unsuccessful in earning a living as a real estate agent doing the hard work that successful agents do on a daily basis.

Lowe’s SoloPro Partnership Last Words

There is no shortcut to success as a real estate agent and those joining Lowe’s Solopro meting out their services for nickels and dimes puts a blemish on the industry as a whole. One might say it is much better to mete out the unsuccessful agents who give all the hard working agents a bad name!

About Beverly Hills Real Estate Agent John McQuilkin

Beverly Hills real estate agent John McQuilkin is a Realtor at Rodeo Realty in Beverly Hills, California. In addition to providing real estate news updates, John also blogs about the California Housing Market. John McQuilkin is a divorce real estate agent and probate real estate specialist. The bulk of John’s business comes from traditional real estate sales. John’s clients range from first time home buyers to high profile celebrity clients. John works at all price levels and welcomes and looks forward to hearing from you.






Leave a Comment

Contact Me

Have a question or comment? Send me an email and I'll get back to you, asap.

Not readable? Change text. captcha txt