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Old 07-14-2006, 06:07 PM
 
Location: Indian Trail, NC
295 posts, read 1,192,236 times
Reputation: 133

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Now that the market is cooling for ALL houses (although that bubble doesn't really seem to be busted in the Charlotte area yet) has anyone noticed better luck in getting their home builders to give more up in order to make the close?

If so, or for those that have negotiated with builders in the past, what did you do that made it successful? Ask for money off like a typical home purchase or did the builder just "throw in" free upgrades?

Every builder I've visited has some sort of promotion that they point out right up front (like a free bonus room, $5000 toward their design center upgrades, etc.) but how successful has anyone been at getting something beyond what they talk about up front?

I'm back-and-forth between building new or looking for 0-5 year old homes. I've seen some price concessions on the existing homes, so interesting to see what you think that means to new builds ... thanks!
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Old 07-14-2006, 08:40 PM
 
543 posts, read 1,632,322 times
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Quote:
Originally Posted by Samohtal
Every builder I've visited has some sort of promotion that they point out right up front (like a free bonus room, $5000 toward their design center upgrades, etc.) but how successful has anyone been at getting something beyond what they talk about up front?
:
I can only speak for our deal that we got. We ended up with about 10k in incentives after negotiating back and forth for a while but it was all contingent on using their lender. We took the incentives and used their lender and it worked out to be a pretty good deal even though we were a little nervous at first.

The realtor that sold to us told us that the houses in our development are selling so fast right now that the incentives are really hard to get. Just last week they sold 12 houses here so they aren't giving away too much stuff anymore.
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Old 07-14-2006, 08:49 PM
 
2,301 posts, read 1,889,458 times
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Quote:
Originally Posted by Markh
I can only speak for our deal that we got. We ended up with about 10k in incentives after negotiating back and forth for a while but it was all contingent on using their lender. We took the incentives and used their lender and it worked out to be a pretty good deal even though we were a little nervous at first.

The realtor that sold to us told us that the houses in our development are selling so fast right now that the incentives are really hard to get. Just last week they sold 12 houses here so they aren't giving away too much stuff anymore.

That's a nice subdivision I've seen it.
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Old 07-15-2006, 05:49 AM
 
693 posts, read 2,544,058 times
Reputation: 317
Quote:
Originally Posted by Markh
The realtor that sold to us told us that the houses in our development are selling so fast right now that the incentives are really hard to get. Just last week they sold 12 houses here so they aren't giving away too much stuff anymore.
That's probably true. The new developments I visited there was always someone buying when I was there and there wasn't much left available for earlier than February closing at this point. I don't see this changing, houses here are not overevaluated like in may other parts of the country. Anyone looking for new development, I'm not sure if you'll get any free upgrades, and you might need to wait several months to a year to move in.
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Old 07-15-2006, 08:49 AM
 
Location: Raleigh, NC
11,986 posts, read 28,216,522 times
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Each builder/community has a targeted amount of sales for the month. If sales are less than what has been predicted, they'll use incentives to get their sales up. If sales are higher than predicted, they'll raise the price and get rid of the incentives. Its the way it always is...supply and demand. Sometimes the onsite sales associate will not tell you what the incentives are but as a Realtor, they will always tell us. Its not in the best interests to make the Realtor unhappy...they do not want me going back to my company of 600 Realtors and sending out that ONE EMAIL telling how they lied to MY CLIENT! Vicki
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Old 07-15-2006, 09:10 AM
 
Location: Indian Trail, NC
295 posts, read 1,192,236 times
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OK, but a devil's advocate here ... even if they (the builder) were unwilling to give up the incentives up front to me (the customer), wouldn't they actually be more ABLE to give incentives directly to me than if they had to try and sell the place to me AND pay my realtor his/her 3%?

(I don't have the answer, this is a legit question not a statement.)
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Old 07-15-2006, 09:31 AM
 
Location: Raleigh, NC
11,986 posts, read 28,216,522 times
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Actually, the Realtors fees (both the 2.5% to the onsite sales associate AND the 2.5% to the Realtor) are already figured into the BASE price. Most of the sales assocites would rather you have your own agent because legally they work for the builder so if there are any problems, they'd rather deal with the Realtor than an upset buyer. However, if you do not have a buyer's agent representing you, the buyer, the sales associate just makes more money. So...none of the money really makes its way back to the buyer. Thats the reality of it and thats why I tell folks...doesn't matter if you choose me as your agent or someone else but please have SOMEONE representing you. Vicki
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Old 07-15-2006, 09:46 AM
 
2,301 posts, read 1,889,458 times
Reputation: 317
Quote:
Originally Posted by VickiR
Actually, the Realtors fees (both the 2.5% to the onsite sales associate AND the 2.5% to the Realtor) are already figured into the BASE price. Most of the sales assocites would rather you have your own agent because legally they work for the builder so if there are any problems, they'd rather deal with the Realtor than an upset buyer. However, if you do not have a buyer's agent representing you, the buyer, the sales associate just makes more money. So...none of the money really makes its way back to the buyer. Thats the reality of it and thats why I tell folks...doesn't matter if you choose me as your agent or someone else but please have SOMEONE representing you. Vicki

Thank you for explaining that. People don't understand that is what happens.
If the builder tell you anything else they are giving you a line of bull.
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Old 07-16-2006, 05:38 PM
 
Location: Indian Trail, NC
295 posts, read 1,192,236 times
Reputation: 133
Quote:
Originally Posted by VickiR
Actually, the Realtors fees (both the 2.5% to the onsite sales associate AND the 2.5% to the Realtor) are already figured into the BASE price. Most of the sales assocites would rather you have your own agent because legally they work for the builder so if there are any problems, they'd rather deal with the Realtor than an upset buyer. However, if you do not have a buyer's agent representing you, the buyer, the sales associate just makes more money. So...none of the money really makes its way back to the buyer. Thats the reality of it and thats why I tell folks...doesn't matter if you choose me as your agent or someone else but please have SOMEONE representing you. Vicki
Thanks for the explanation!
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