Buyers Agent for New Construction? Getting out of an uncomfortable situation...should I? (Chicago: sales, real estate)

[Sarah_Lynn]

I'm in a situation where I feel a bit uncomfortable with an agressive, albiet nice, accomodating realtor. Admitedly I take full responsiblity for my own feelings and actions. So I could equally say I put myself in this situation.

I am actively considering purchasing a home by Centex (townhome) MidLane Country Club in Wadsworth IL. A couple of questions.

I used a realtor to find homes in downtown chicago. Nothing met the criteria I wanted. I changed direction in what I was looking for and so I went online to do my own research. I discovered Centex Homes (good/bad reputation?) on my own. I called the sales office and made an appointment to check it out. I also was preapproved before even speaking with ANY realtor. Because I was open, when the realtor called to follow up, they said they wanted to go with me when I went to visit the sales office. In my heart I felt I didn't need her to come look but I went ahead because I was giving into the "nice" part of me. There seems to be no room for negotiation from the builder except the incentive they offer. And to be perfectly honest, I'd rather use the full 2.5% and up to 5% for my own advantage than potentially giving my money away to someone else. Where does the buyer realtor value come in? Is it relevant when it's new construction? The "nice" part of me wants to acknowledge her previous time and cut her in but the "business woman" in me says no way. I'd rather use the leverage to obtain myself a better deal. No agreement has been signed between the realtor or I. Am I obligated to give her funds?

3. For New Construction, do you need a home inspection? I'm leaning towards yes.

Thank you in advance for your opinions.

I did peruse the other "home buying" threads but couldn't find anthing quite specific to this situation. Please feel free to send me to a different link if I've overlooked something.

[Sarah_Lynn]

Oops. I have an envelope with an arrow. I think I may have violated the rules of the forum by being off topic and using it as a chat room? Sorry!!! It wasn't intentional. Just wanted to let folks know. Won't do it again.

[linicx]

What you nneed to know is that the real estate business as a whole is a nasty cut-throat business. Most agents will do or say anthing to make a dollar on your back. It is very difficult to find an honest agent becuase itis not a requirement forr getting a license.
When I was in the real estate business many years ago I worked for a broker/builder and was paid a standard 5% commissionn for every house I sold for him. The customer did NOT pay anny commission.

If the builder or real estate office INSISTS that you must work with this agent RUN, don't walk, to the nearest EXIT.

If you are serious abouut buying property now, ask friends, family and co-workers what agent or real estate company helped them buy/sell property.

In the meantime stay away from Re/max, Caldwell-Banker, Centruy 21 and ERA as they are owned by an off-shore Dutch holding compaany. The local franchised office is under that control too.

[Inspector General]

First off, I must tell you I am a local Chicago area home inspector working in Lake, Cook and Dupage Counties. I would abosolutly recommend a new construction home inspection. Without trying to scare you by telling you my major defect experiences, I will point out that having a detailed inspection report and punch list will go a long way to getting all of your minor problems solved in a timely and orderly manner. All homes have defects, new homes are no exception.

Builders use subcontractors and they don't always see where corners are cut.

[amyrachel]

I agree with the post that said if you are being pressured to use a certain agent than walk away. You are not obligated to sign anything and pressure is part of sales tactics!

Also, I would ALWAYS get a home inspection and radon test, new/ used/ whatever home. I would never never make such a larger purchase without an inspection. I have lived in a new home years ago that had horrible defects. So bad it made me thankful I was renting and did not own it.

[aragx6]

Originally Posted by linicx

In the meantime stay away from Re/max, Caldwell-Banker, Centruy 21 and ERA as they are owned by an off-shore Dutch holding compaany. The local franchised office is under that control too.

I'm confused- I thought they were HQ'ed in New Jersey- Parsippany to be exact.

[Homesinrockford]

Well I would never work with a buidler who was NOT Realtor freindly. There is a reason for this. A educated agent may know something about the buidler that the builder doesn't want you to know. Also, is it fair for the Realtor that you changed your course of direction. Working in this industry is hard. If the agent put a lot of time and money (gas) showing you places the right thing to me would to still work for her. Also why would you use a Home Inspector ( Jack of all trades master of none)? If you concerned about the townhome go get a Professional Roofer, HVAC, General Conractor and have them look at the house. A home inspecto can ONLY give you his opinon. I'd rather it come from someone who actually went to school and works in the field rather that somone who took a weekend/Internet course and will charge you 250.00 just to find out that the door squeeks. Don't be cheap it will come back to haunt you. Remember Realtors will probally be the ones sell your house in the future. Be nice!!

[Jeff Hill]

Originally Posted by linicx

In the meantime stay away from Re/max, Caldwell-Banker, Centruy 21 and ERA as they are owned by an off-shore Dutch holding compaany. The local franchised office is under that control too.

The international headquarters for RE/MAX is in Colorado. Dave Liniger is the chairman and co-founder (with his wife)....and he's not Dutch either. Not that it matters because each office is independently owned and operated.

Coldwell Banker was created after the SanFransico earthquake in the early 1900's by two men (Coldwell and Banker) to help get people back on their feet. They are not Dutch either.

Don't know the history of Century 21 or ERA but I'm sure their are no Dutch holding involved there either. Where the heck did you get your information?

[Sarah_Lynn]

Thank you all for your advice! It is greatly appreciated.

[middle-aged mom]

Originally Posted by linicx

.

In the meantime stay away from Re/max, Caldwell-Banker, Centruy 21 and ERA as they are owned by an off-shore Dutch holding compaany. The local franchised office is under that control too.

The is erroneous information. Realology Corporation is a franchisor of the most recognized brands in the real estate industry, Coldwell Banker, Century 21, ERA and Sothby's International are just some of the franchise names.

Some franchises are owned and operated by NRT, a subsidiary of Realology and some are privately owned.

Realogogy ( NYSE:H) is owned by the public, no doubt some of them might be of Dutch heritage. No doubt, many who frequent this board own a piece of realology in their mutual fund portfolio.

Re/Max International is privately held by its founder Dave Liniger from Denver. It is also a major franchisor. Some offices are owned by the RE/MA holding company and most are privately- owned by local brokers. Chances are, are few of them might even be of Dutch heritage.