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Old 06-02-2016, 04:26 AM
 
23 posts, read 28,269 times
Reputation: 35

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We currently looking for builders. Obviously we looking for a good, reliable and dare I say honest company. We are working with a realtor and we asked for two or three recommendations of reliable builders (we also have three in mind) so that we could whittle it down to one that we really like.

My realtor only suggested just one builder. This is the second realtor that I have worked with over the last two years (long story about the first) but I had a similar experience with that realtor. My questions are these; Do realtors purposely steer their clients toward A builder? Is this a normal practice? Do the realtor get a bigger, and I hesitate to use the word kickback, payoff from the deal? If not, what is the motivation for the realtor to recommend just the one builder?

I think that I know what the answer is. I really don't want to be cynical. . . but it's in my nature. I would love to think that the recommendation is the best builder in the area but I know that cannot be possible. Any help is appreciated.
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Old 06-02-2016, 06:21 AM
 
Location: Port Charlotte
3,930 posts, read 6,420,842 times
Reputation: 3457
I have had requests for recommendations. I always give multiple builders. The reason is that if I give only one, and the person is dissatisfied and sues, I can get caught up in the lawsuit. Now the agent may think that the builder is great, or there may be a relationship including both financial or maybe a relative.

I would find another agent if you are concerned.
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Old 06-02-2016, 07:17 AM
 
179 posts, read 345,546 times
Reputation: 228
Realtors do see the work of many different builders, so they see who is good and who is not, ... so they recommend favorites. ... But, they usually recommend a few builders, and not just one.
A Realtor shouldn't just be pointing you toward a builder(s). The Realtor should also be walking you through the entire process, helping you negotiate a good deal, help you select options according to your wants and likes, attending home inspections with a home inspector at the various stages of construction completion, and helping you at settlement. Before all of this, a Realtor should also have a list of good lenders for you to work with. Many builders have their own preferred lender that they will try to get you to use, but it is not always the best financing terms. Get a list of a few lenders from your Realtor.

Best luck.
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Old 06-02-2016, 07:56 AM
 
Location: Cape Coral
390 posts, read 632,143 times
Reputation: 357
Realtors in cahoots with builders in cahoots with inspectors in cahoots with lenders in cahoots with everyone else in the real estate industry are what drove the artificial boom that led to the epic bust here. It still exists. More regulation has helped curb the effects greatly, but you can count on many people here having a hidden agenda. There's lots of honest folks too, the majority I believe, but fraud has solid roots in Florida in general. Don't take any one person's word for anything.
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Old 06-02-2016, 11:00 PM
 
Location: Cape Coral
52 posts, read 59,183 times
Reputation: 57
Some builders provide higher commissions. Kickbacks must be disclosed per our code of ethics on any vendor. With any advice I like to provide 3 or more companies but the consumer shall make the decision. Realtor should have your best interest at all times. There are over 6,500 licensed realtors in Lee County, if you don't feel confident find a Realtor you can trust.
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Old 06-03-2016, 03:35 AM
 
23 posts, read 28,269 times
Reputation: 35
Thank you for your advice.
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Old 06-03-2016, 02:57 PM
 
Location: SW Florida
15,209 posts, read 10,238,419 times
Reputation: 32171
Just be careful and get referrals.
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Old 06-07-2016, 04:34 PM
 
Location: Cape Coral
195 posts, read 270,750 times
Reputation: 208
First, it should be pointed out that the consumer should be represented by their own Real Estate agent when dealing with builders. Most builders have an agent in house that represents the builder. A good Real Estate agent will know the quality of work several builders provide. Builders are found in different price points as their focus.
A reputable agent will take you to several builders so you can see their style and the quality of their work.
The agent will guide you through the process and keep your best interest in mind.
The agent is compensated by the builder not by the buyer, so it does not cost the buyer to have their own agent.
The builders have their own contract for the construction of a home and the agent should recommend the use of an attorney to make sure the terms do not put the buyer in a disadvantaged position.
Using a Real Estate agent is a smart thing to do for your best interest.
Make sure the agent is knowledgeable about New Construction and has a good working knowledge of the various builders product.
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