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A builder here has a couple of their houses completed. Would I make an offer through my agent, would they give him his 3%? The prices of the homes are a little high considering recent comps. Do builders generally entertain offers, or are they going to want to stick to their listed price?
If the home is already completed or almost completed, they will negotiate. If you build from scratch, they usually don't budge or will throw in a few upgrades because you're negotiating on dirt.
You agent can still run a market analysis on the neighborhood and find out what they sold the other homes for. This is one of the duties of a buyer's agent.
You agent can still run a market analysis on the neighborhood and find out what they sold the other homes for.
True but not all builders post the actual sales price in the MLS or indicate how much of incentive money was thrown in to sale the house. Builder new home sales records are seldom accurate.
True but not all builders post the actual sales price in the MLS or indicate how much of incentive money was thrown in to sale the house. Builder new home sales records are seldom accurate.
Right.
And if the MLS shows inventory homes go at significant discount to stop the bleeding, that doesn't mean that the builder will provide new construction at presale at a loss just because of comps.
Talked to a builder over the weekend, now that spring is here they are discounting a whole lot less then a few months back. So don't judge a builder by what he sold back in Nov / Dec time frame.
To me the best time to cut a deal on new construction is in the winter when things are slow. They usually discount heavily at that time.
It sounds like these homes you are interested in are in the MLS. If the builder has them entered into the MLS, he should expect to negotiate the price. The MLS listing should state what percentage will be paid to the buyer's agent.
It sounds like these homes you are interested in are in the MLS. If the builder has them entered into the MLS, he should expect to negotiate the price. The MLS listing should state what percentage will be paid to the buyer's agent.
Yes, the nearly complete one is in the MLS. I'm not sure what the deal is, because now I notice that the house is listed with a "regular" agent not obviously affiliated with the builder, but when I googled the property and the builder, the house is also still listed on the builder's website (for a tiny amount less) with their agent who is handling that small development. Maybe the newer realtor's company bought it from the builder? I will have to call and ask. Anyway, at this point it looks like a pretty ordinary sale so I'll assume my buyer's agent would get his 3%.
Around here, builder homes may or may not be listed, depends if the builder wants the extra exposure. As mentioned, typically focuses on spec homes. However, all builders do pay a commission regardless of in the MLS or not. They require the agent to register with the buyer on the first visit to qualify for the commission. The registration form will specify the commission amount.
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