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@Anonymous wrote:
Is it best to have an agent with you? Absolutely, they will look out for your best interest. Do you need to use the builder's lender? Absolutely not. They may try to pressure you or offer incentives such as new appliances or credits towards closing costs, but you are free to use any lender you like. They may force you to get pre-approved by them, but you have every right to use an outside lender!
It's Federal law that makes it illegal to "force" buyers to use a specific lender or closing agent. No new news there. I certainly make my buyers aware of that fact. We do not "force" any buyer to be preapproved by our lender. We simply require it in order to execute a purchase agreement. No new news there. We offer an incentive to use our lender and encourage buyers to shop around for a better deal. They are told that they can use any lender of their choice. I'm not aware of any reputable builder that "forces" anyone to do anything. Have you experienced otherwise?
@StrawberryIce wrote:On my way to put a contract on the home, my agent calls and starts asking for all the information and then she calls the seller. She set up an appt for tomorrow at 12 noon. Now I feel much better. Now I'm at the point trying to figure out if I want a culdesac or a corner lot smh.
I recommend that you ask your agent how many new construction homes have they sold in the past year. If zero, find yourself an experienced one.
Last year she was awarded 'Top 25 Realtor in the SouthEast Region' by a well-known nationwide realtor so I don't know what happened. Maybe I'm not rich enough lol
@ezdriver wrote:
@StrawberryIce wrote:On my way to put a contract on the home, my agent calls and starts asking for all the information and then she calls the seller. She set up an appt for tomorrow at 12 noon. Now I feel much better. Now I'm at the point trying to figure out if I want a culdesac or a corner lot smh.
I recommend that you ask your agent how many new construction homes have they sold in the past year. If zero, find yourself an experienced one.
@StrawberryIce wrote:I have not heard a word from my Buyer's Agent for about 3 days now and I have done all the work myself. I am going to go in and myself. Hope I don't regret this. I found all the properties that I have looked at. She did nothing for me.
...do you have an exclusive buyer agent contract with her? ...put yourself in the agent's shoes ...is she going to invest a lot of her time (money) in someone who may go elsewhere after looking for a better deal (my other mother's 2nd cousin will give me a 1% rebate if I buy from her, etc) ...in a buyers market, probably ...in the current sellers market ...not likely
...is the builders rep going to tell you they just sold a home like yours at a steep discount? ...at the very least they are required to list it as sold at $xxxx on the MLS so other realtors and appraisers can do realistic comps ...but if they immediately change it from sold to removed from market, who is going to tell you that? sure they're not supposed to do that (and can be LIGHTLY fined by the MLS if caught) ...but if you have a good realtor on your side, they will ask the right questions
...is the builders rep going to tell you about problems with the site development, nearby sinkholes, aquifer going dry, new 4 lane going in next year in your front yard?
...yes the price is the same with or without the realtor ...so why not have your realtor?
...a realtor has gone so far as to take 20+ pics of a property and send them to me because the listing agent's pics sucked or deliberately hid something ...would she do that if I wasn't exclusive with her? ...maybe, but probably not
...is the realtor getting a kickback from the seller? ...extra commission, free trip, etc ...shady deals are a dime a dozen ...I'm covered
...is the realtor incentive to sell you the property even if its not a good deal?...will she advise you to walk away if the price is too high ...or sell you the first thing you'll sign a contract for ...mine told me where to avoid and why.
......a good buyer agent will be turning away clients, or referring to another good agent, when they get too busy ...If you want a realtor that has nothing better to do than drive you around forever on the 50/50% chance you will use them, great, but why not use a Realtor that respects your time as well as their own?
...there's more ...but you can see my perspective ...sure there are a lot of bad realtors out there just taking the commission instead of earning it ...but imnsho it's your fault as much as theirs for not checking them out up front ...EZ has his perspective on their value but he's a builder's rep, eh ...I'm a buyer who likes my realtor ...hth
I wouldn't doubt it. Ryland was upfront with us and said we can do what we wanted to. Our decision. We went through a few beforehand trying to buy a foreclsoure/short sale. We didn't like that situation too much so we decided to build. The process was easy and no stress at all.
@StrawberryIce wrote:I have a pre-approval letter from a mortgage company thats not a preferred lender of the new construction homes that I'm interested in seeing and I'm waiting for my agent to meet with me to see a couple of locations that I'm interested in. Do I need a Buyer's Agent with me as a safety net?
i highly recommend a buyers agent for new construction.
i have heard it argued that people can negotitate a lower price since builder doesnt have to pay the realtor fees.
well, if i were a builder i wouldnt do that. because then i would have a lower priced comparable sale out there.... shooting myself in the foot.
be safe, use an agent
@Lemmus wrote:
@StrawberryIce wrote:I have not heard a word from my Buyer's Agent for about 3 days now and I have done all the work myself. I am going to go in and myself. Hope I don't regret this. I found all the properties that I have looked at. She did nothing for me.
...do you have an exclusive buyer agent contract with her? ...put yourself in the agent's shoes ...is she going to invest a lot of her time (money) in someone who may go elsewhere after looking for a better deal (my other mother's 2nd cousin will give me a 1% rebate if I buy from her, etc) ...in a buyers market, probably ...in the current sellers market ...not likely
...is the builders rep going to tell you they just sold a home like yours at a steep discount? ...at the very least they are required to list it as sold at $xxxx on the MLS so other realtors and appraisers can do realistic comps ...but if they immediately change it from sold to removed from market, who is going to tell you that? sure they're not supposed to do that (and can be LIGHTLY fined by the MLS if caught) ...but if you have a good realtor on your side, they will ask the right questions
...is the builders rep going to tell you about problems with the site development, nearby sinkholes, aquifer going dry, new 4 lane going in next year in your front yard?
...yes the price is the same with or without the realtor ...so why not have your realtor?
...a realtor has gone so far as to take 20+ pics of a property and send them to me because the listing agent's pics sucked or deliberately hid something ...would she do that if I wasn't exclusive with her? ...maybe, but probably not
...is the realtor getting a kickback from the seller? ...extra commission, free trip, etc ...shady deals are a dime a dozen ...I'm covered
...is the realtor incentive to sell you the property even if its not a good deal?...will she advise you to walk away if the price is too high ...or sell you the first thing you'll sign a contract for ...mine told me where to avoid and why.
......a good buyer agent will be turning away clients, or referring to another good agent, when they get too busy ...If you want a realtor that has nothing better to do than drive you around forever on the 50/50% chance you will use them, great, but why not use a Realtor that respects your time as well as their own?
...there's more ...but you can see my perspective ...sure there are a lot of bad realtors out there just taking the commission instead of earning it ...but imnsho it's your fault as much as theirs for not checking them out up front ...EZ has his perspective on their value but he's a builder's rep, eh ...I'm a buyer who likes my realtor ...hth
Yes, I have had an exclusive buyer agent contract with her for four months so far. I told her I was interested in new construction and the area, and she did a search and sent me resale property. I dug and dug up new construction property and I kept her updated on everything but was not getting any responses from her. I had basically gave up but at the last minute, she is available. I want a realtor with me and I know how valuable they are. I kept her up to date like I was supposed to. I know that I need her with me when I sign this contract tomorrow. Thank goodness she woke up and will be there because she is excellent at what she does. I just don't know why she goes AWOL for days or weeks sometimes.
...just a totally different experience Strawberry ...sorry to hear that but good luck with the contract signing
I think it will go fine now since my agent will be there with me today.