Home Buying in 76108>Question Details

Don, Home Buyer in Fort Worth, TX

How do negotiate the price down on a new home purchase when I do not have a real estate agent representing me?

Asked by Don, Fort Worth, TX Sun Sep 30, 2012

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27
George this is nothing personal. When you or anyone else comes into a thread and tries to create the illusion that you can somehow offer a commission structure that is better than the rest of us, then I'm going to make it a point to counter punch.. Again, nothing personal, but I'm going to respond when I see this type of marketing ploy. You didn't mean anything personal by coming in here and trying to make it look like you could undercut everyone else did you?

ZipRealty used to offer a Buyer Rebates Program too. They finally got smart and realized that Buyers are looking for much more than a rebate; buyers want good Buyer representation. A smart Buyer should know that carefully picking a Buyers Agent is a task not to be taken lightly. It's really silly for a Buyer to factor into their decision making process the fact that a Realtor is offering to give back $500 to $1000.

http://www.realestateindustrywatch.com/zip-realty-ends-buyer…

Sorry, this is a forum to exchange ideas and opinions and the above just happens to be my opinion. Even if one brokerage makes a point of publicly posting their commission structure, it doesn't mean that the Buyer will get better representation or save money in the long run, if they use that brokerage.

I hate that we even have to discuss this, but I feel that it's important for John Q Citizen to understand and see the big picture and not get sucked into marketing / advertising and the lure of getting $500 or $1000, depending on the stated restrictions.

Thanks for the offer, but sorry, I won't be joining Ready Realty LLC.
2 votes Thank Flag Link Sun Sep 30, 2012
Bottom line is that I am not a high school flunkie, but a highly educated degreed professional. I hate the fact that Realtors only have to have a high school education.
Flag Thu Oct 11, 2012
money is money and value is value, Nuff said!!!
Flag Thu Oct 11, 2012
I used to work for ZIP and I agree. Home Buyers want an agent that knows the business and has their best interest in mind at all times more importantly than a rebate. Offering an incentive to a customer in this Forum is inappropriate. The question was not a reach out for an Agent - it was a question of "how can I negotiate". I am embarrassed that the subject was ever mentioned. Joe thank you for responding to something that most of us were thinking, Advice to George, answer the questions directly. It does "appear" your response was "waiving $$$" to a customer that simply stated he is not working with a Realtor.
Flag Sun Sep 30, 2012
Don, the builders aren't inclined to lower the price, but they are more inclined to give add-ons. Maybe the place to start is in one of their more basic homes, and ask for the additional features that are important to you. If you are considering a spec home that is already on the ground, you'll get the best deal.

A Realtor really can help you evaluate all this, and at no cost to you. You won't be sorry if you have one on your side! Remember, this isn't a transaction you do very often. The builders and Realtors deal in this environment every day.
1 vote Thank Flag Link Mon Oct 1, 2012
To "negotiate" means that you'll give up something in order to gain something. If you want to know how to bargain, let me suggest that you "ask."
1 vote Thank Flag Link Sun Sep 30, 2012
Hi Don,
Some builders will come off the price for you and I would always suggest asking for whatever incentives they may be offering to the buyers, However I would have to agree with my colleagues on this post, it is always best to have someone looking out for you in the transaction. The buider is looking out for their best interest and you should also have someone on your side..

Hope this helps : )

Terri Orsburn/Tina Hearne Realtors
940-597-4653
0 votes Thank Flag Link Sat Nov 10, 2012
Why would you not use an agent... It's literally a free service for a buyer!
0 votes Thank Flag Link Sat Nov 3, 2012
Hi Don although you are buying a new home you NEED to enlist the help of a licensed agent. The agent will be your advocate and protect and guide you through the transaction. As far as paying the agent goes this is always already factored into the sell of the home and paid by the seller ( in this case builder). DONT think that you will get a better deal by not working with an agent (that is not true) infact you will get the best deal by having an agent. Basically you need representation because the builder/seller represents their own best intrest and not yours. Feel free to contact me with any questions.
0 votes Thank Flag Link Sat Oct 20, 2012
Don,

How have you been lately? Remember that I am offering you a $500 REBATE, not a discount. This is money that I am giving you directly off my proceeds which are paid by the seller. This is FREE money to you without costs or obligations!

Call me A.S.A.P. so that we can get you in a new home!
0 votes Thank Flag Link Tue Oct 16, 2012
When you get serious hire a Realtor to help you.

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
0 votes Thank Flag Link Tue Oct 16, 2012
There are a lots of techniques, Just one free advice:

Lots of times the first offer from a buyer will be a lowball offer — just testing the waters. Let’s say it was offered at $300,000 and they offer $210,000 — some ridiculous amount. Well, the seller gets insulted. The worst thing that can happen in a negotiation is that you take things personal.

Remember: It’s just business.

By the way, you should be So Lucky! Just visit my web site at http://www.aatrealty.com/ you will be surprised. Just in October, I am offering up to %75 of my commission as a rebate to the home buyers.

♥♥ Regards ♥♥

TORANG NAZMI
☎ 972-897-5718
http://www.aatrealty.com/
0 votes Thank Flag Link Tue Oct 16, 2012
Don,

I am still here ready to work with you. I will give you $500 of my commission if you use me as your agent. I don't have designations, I have multiple degrees and am able to represent your interests better than those in this field who only have a high school education. Call me at 817-729-6630.
0 votes Thank Flag Link Thu Oct 11, 2012
Hi Don:

It really is impossible to answer this question without knowing exactly what you are buying and what the builder is telling you. As a general rule, builders are very good negotiators and an non-experience negotiator (which I assume you are because you are asking this question) will have a hard time just staying afloat, let alone coming out ahead. But, I will tell you one "secret." The word "no" is the most powerful word in negotiating. If you feel the builder is taking advantage of you or if for any other reason you think there is a problem with the best offer you are getting, then say "NO!" and walk away. You may not get the house. But, at a later date, you won't be sorry you did not get it.

Kind regards,
Ron Rovtar
Prudential Real Estate of the Rockies
303.981.1617
info@rovtar.com
http://www.rovtar.com
0 votes Thank Flag Link Thu Oct 11, 2012
Never ever buy a new home without a real estate agent.
Follow this link to see why.

http://teamlynn.yourkwagent.com/atj/user/AdditionalGetAction…

I think most agents will save you time, probably money somewhere along the line, and probably some headaches. No reason to go at it alone.

Search for new homes here:
http://www.metroplexhomesalesinfo.com/listings/areas/37324/m…
0 votes Thank Flag Link Thu Oct 11, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
If you are referring to a new home purchase as builder owned then lowering the price by much is unlikely. Builders are more apt to give what we refer to as ad-ons and pay pay some additional closing costs on your behalf. Builders want to keep the comparable as high as the market can bear so as not to diminish the value of the other homes s(he) is building. Builders have a stake in the overall market. If they are building then that's a good thing. When they stop building you can be sure that the overall market is also hurting. Do your homework!
0 votes Thank Flag Link Sun Oct 7, 2012
You should have an understanding of who you are negotiating with first. Then an understanding of the home values in the area. Once you have this info you can strengthen your negotiating position.

Chris
0 votes Thank Flag Link Mon Oct 1, 2012
If you have to ask this question please call Ryan Hightower for a no cost to you buyer consultation. 817.689.9365 Ryan.Hightower@cbdfw.com Thank you! http://www.facebook.com/realtorryanh
0 votes Thank Flag Link Sun Sep 30, 2012
Joe,

I respect what you have to say and to each his own. I must reaffirm that I do have much to offer above and beyond the rebate. I currently have $945,000 in active listings and am presently engaged with buyer on a $410,000 deal because of my $1,000 rebate. Money is money and value is value. Why wouldn't someone want to save money or get a rebate back for the exact same services?

Good luck with your business and may the best man win!

George
0 votes Thank Flag Link Sun Sep 30, 2012
Please see my post of April 12, 2011.
http://www.trulia.com/blog/lucy_puniwai/2011/04/why_do_i_nee…

Please scroll down to the "ADDING MY OWN COMMENTS" AREA.

Realtor's in general work with many Builders. I use my home buyer's "deal breakers" to their advantage in speaking with the Builder's Sales Representative. Writing an initial offer, including the items you desire in the home, along with the price you are willing to pay is an expertise learned by seasond Realtors.

My best advice to you, is to ask for everything, tell them your bottom line, present a Lender Pre-Approval for ONLY the amount you want to spend. If you show an approval lette4r with a higher amount, that tells the Sales Rep there is more money "out there" but it may not be what you want to spend, Also - I hope you have a Lender that will keep your financial information confidential.

Let me know if I can provide you with any other pointers. I hope you get the home that you desire!

Best wishes,
Lucy

Lucy A. Puniwai
REALTOR®
(214)783-6416 – Cell/Text
(682)224-8050 – Fax
puniwai@fathomrealty.com
Facebook: https://www.facebook.com/NorthFORTworthRealtor
Facebook: https://www.facebook.com/Alliance.Haslet.NorthFort.Worth.Tex…
http://www.puniwai.fathomdallas.com/agents/6440-Lucy-Puniwai
In God We Trust
0 votes Thank Flag Link Sun Sep 30, 2012
Please excuse my typo's - holding a puppy while responding...lol
Flag Sun Sep 30, 2012
Joe,

Nothing private about it. My broker advertises it with full disclosure for all to see. Now why is it that you insists on going back and forth with me? Voice your beliefs because that is your right. Just don't get personal with me. You have your business plan and I have mine. Oh, and by the way, the restrictions are that it not be an REO, foreclosure, or HUD home and that I get the full 3% commission from the seller. Like our leverage? Join us. I pay $25/month fee to my broker and keep 90% of my commission! I have done extremely well in this business. If this is a so called "bad" economy, I can't wait till it gets better!!!!
0 votes Thank Flag Link Sun Sep 30, 2012
It is best to have a realtor represent tou.The salesperson works for the builder.I was working for builders before I got my license. I will nwgotiate price, incentives help you pick out upgrades and items.Not to go overboard and be there thru the closing and after.Call me 817-528-7706 PENNY
0 votes Thank Flag Link Sun Sep 30, 2012
You really do need represenation. You also need to make sure your lender will allow you to get money back from your Realtor should you choose one for that reason. These are very touchy things these days and sometimes can be misconstrued as fraud on your part or the part of someone else in the transaction. On many loans there is a certification stating that there are no outside agreements with the builder, Realtor and anyone else involved n the transaction. Be careful and consult an attorney before accepting any of these kickbacks
.
On another note, very often the builder wants to keep his comps up for the sale of homes in a new neighborhood, therefore he may not negotiate for fear of bringing the price of the next home he builds in the area. So usually the price is the same with or without representation. Often there are great deals on homes in close out neighborhoods and you can get the same house for considerably less agent or no agent. Ask about those.

If you want to ask me anything or clarify please feel free to call me.
Debbie Scrimshire
Keller Williams Realty
817 .980.1047
0 votes Thank Flag Link Sun Sep 30, 2012
I'm sorry to offend Joe, but that's my broker's policy. That's our leverage for our buyer's. By the way, our leverage for sellers is that I list for 4.5%. That's why I currently have $945,000 is active listings that you can check for yourself. It's all about listings, leads and leverage.

I respectfully suggest you do business your way and allow me to do business my way.
0 votes Thank Flag Link Sun Sep 30, 2012
Don,

Call me and if you use me to represent you as a buyer's agent, I will PAY YOU $500 OUT OF MY COMMISSIONS! I am a twice degreed professional who is contract savvy and has the history to prove it! Again, I will pay you $500 on a $100,000 purchase or $1,000 on a $300,000 purchase (restrictions apply). Call me right now for I have cleared all lines and am eagerly awaiting your call.

George
817-729-6630
0 votes Thank Flag Link Sun Sep 30, 2012
I have represented many homebuyers purchasing new homes in the Fort Worth area. You need a Realtor on your side working and negotiating on your behalf. The sales reps at the home builders office work for the builder, not for you. Your best bet is to call a Realtor and have your own representation. I would be happy to represent you! Call me with any questions.
Shelly Sierra, REALTOR®
RE/MAX Masters

Direct: 214-686-4865
Email: shelly@sierradfwrealestate.com
http://www.facebook.com/YourRealtor.ShellySierra
0 votes Thank Flag Link Sun Sep 30, 2012
Call a Realtor. You do not pay anything out of pocket. The Seller will share the commission with the Buyers Agent who brings them the ready, able, and willing Buyer. A Realtor can help you plan a negotiation strategy and execute it on paper on your behalf. It's the best 3% you never spent! Regards

Orlando Fernandez
0 votes Thank Flag Link Sun Sep 30, 2012
Badly?

You don't save money by not using a realtor.

Tom Burris
Mortgage Banker
DallasLoanGuy.com
(214) 763-4629 cell/text/nights/weekends(Really!!)
tomburris@dallasloanguy.com
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
0 votes Thank Flag Link Sun Sep 30, 2012
Hire a Realtor to represent you. It will save you money. The sales people are not Realtors they work for the home builder so you do not have any representation when dealing with them.

Give us a call we'll be happy to represent you.
0 votes Thank Flag Link Sun Sep 30, 2012
That is a developed skilled by successful Realtors . If you felt you can handle a real estate transaction without a professional recommend for you to proceed.

FYI - we have legal issues without a formal representation agreement not much anyone can assist you with.

Many factors come into play how to obtain the best deal for all parties involved. Allow me to launch 100 top questions plus probably another 200 questions for a follow up from answers 1st 100 .

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
News Personality On Air Radio Show
Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com

Follow me on Facebook
http://www.facebook.com/lynn911dallas
0 votes Thank Flag Link Sun Sep 30, 2012
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