Need House Buying Tip !!!! (Goodyear, Litchfield Park: mortgage, lawyer, real estate)

[hrfd725]

Moving to Goodyear and have a house in mind. We do not have a realtor just working with the builder. They will give us an incentive to buy but give this to evryone. My question is we are not using a realtor so they are saving money and should pass some of it back to us. Has anyone asked for anything else plus the incentives and how did it turn out?
The builder is Centex Homes.

[nitram]

Most builders do not use a real estate agent so therefore they don't give you a discount. Those that use a realtor jack the price up to cover that cost. So if your builder is not using a realtor, don't expect a reduced price.

[sablebaby]

No, a buyer can use a realtor (independent to the builder) to buy a new home. In the past they didn't allow this but they do now. It gives the buyer someone to represent them.

I'd say since it's an optional thing for you to use an agent they won't give you more incentives. I don't think they should. You are not an agent and that is business/money for an agent to make not more money for the buyer to get back.

[Master Shake]

I would second using a good realtor. The realtor gets a standard 3% commission, paid by the builder. There is no extra cost to the buyer. A good realtor can also act as an intermediary for you, if you should have any questions or issues with the builder. Plus they can show you around different communities and help lead you to specific builders, models, and areas that might better meet your interests -- as opposed to just wandering around yourself.

I really doubt the builder would pass along any savings for not using a realtor.

[jco]

We built two homes and didn't use a realtor with both. My sister is building a home with Centex and received deep discounts as a results. In addition, her realtor agreed to buy them the fridge and w/d. I'd recommend it!

[sheena]

Originally Posted by hrfd725

Moving to Goodyear and have a house in mind. We do not have a realtor just working with the builder. They will give us an incentive to buy but give this to evryone. My question is we are not using a realtor so they are saving money and should pass some of it back to us. Has anyone asked for anything else plus the incentives and how did it turn out?
The builder is Centex Homes.

Go to inest.com and get 1% cash back at closing, or call a couple of realtors and ask them for 1% of their commision. If I was still in AZ I'd sign you in and give you 1 percent, maybe even 1.5 if you used me.

[Boatdrinks]

We've built 3 houses and used an agent with one b/c we were out of state and she checked in with the builder occasionally and emailed us pics and arranged a home inspection. In that instance, it was helpful but buying locally we've just done it on our own.

However, we'll be buying again soon and we plan to use an agent for the sole purpose of getting cash back from the agent. Many agents will give you cash back for using them - kind of an incentive for your business. Costco currently has a partnership with various agents and those agents will give you a percentage of your house price to use for closing costs. Zip Reality gives you a percentage of their commission back too. In interviewing agents, we've asked if they'll compete with those two companies and give us cash back for using them. All 3 have agreed. Times are tough for agents - they have a LOT of competition and most will be willing to do what they can to get your business. They'll still be making money off the deal - we're getting 1% of the agent's 3% commission.

I'd recommend using an agent for that reason alone. It's no money out of your pocket where the builder is concerned, and you actually get money back. It's only a few thousand dollars, but every little bit helps.

[Jay Jones]

Why buy now? There are lots of rentals going out at well below what you'll pay in mortgage after mortgage tax deductions. We've got an empty 3B/3ba in Litchfield Park, on a golf course. Based on the response to our ads (or lack thereof), you're certain to get a great deal.

Let the housing market drop another 10-20% and then buy... sort of like living for free for the next couple of years.

[Nice Nice Baby!]

Boatdrinks has got the perfect response!! Realtors are desperate for business, so you definitely should find one that will help put some money in your pocket with the purchase. Also, home builders are looking to do deals so when push comes to shove, ask for more incentives. Buyer, you got hand!

[IMoveU]

A good REALTOR should do more than snap photos and "check-in" occassionally. An experienced agent can be your best ally when buying a new home in a buyer's market. When prices weaken and builders start cutting prices or ratcheting up the incentives on the same model you have a contract at a higher price for, having competent representation is a good thing.

As much as builders hate having to pay a commission to REALTOR's representing buyer's, they fear the negative reputation that can develop in the real estate community as a result of strong-arming a REALTOR's buyer even more. When buying a resale home, buyers and sellers use a standard form purchase contract designed to be fair to all parties involved. Builders have no such interest in fairness; their contracts are designed to protect themselves only.

With regard to commission sharing, I suppose we earn our reputation by the low entry barrier to our industry and the resulting high percentage of poor performers that intentionally or not, diminish the value proposition of those committed to professional service built on a foundation of ethics, continuing education and experience.

You would never ask a doctor, lawyer, accountant or other professional to kick-back some of his fee, would you? The reason is the general public's perception of value provided by a real estate professional and professionals in other fields isn't even close.

If you did go to a surgeon and ask "will you give me back 33% of what the insurance company pays you for the procedure? and he said yes... would you even use that doctor? I would not just walk out of there, I would run!

Why would you use someone in a real estate transaction that lacks a value proposition capable of supporting a standard fee? The sad truth is many real estate agents, do not understand business. They don't come from a business background, don't have business training and therefore their "business" is really just an "escrow to escrow" job as a high-priced "gofer".

When a buyer or seller chooses to work with this caliber of REALTOR, what they are saying to me is...I don't understand the process or the risks and even though this transaction may be the single most important financial transaction of my life, I'm going to hire the same mind-set I have...I'll buy it, sell it, or in the case of an agent, get a buyer, get a seller and everything will work out O.K. because...I'm LUCKY!! Unfortunately, alot of people would rather be lucky than good.

My point is...don't just grab an agent off the street who thinks it's their "lucky day" and will gladly hand you back some piece of what they will not earn and think you've got your best interest covered. Do what no one else can do for you...your homework!

Caveat Emptor !:-)