Home Buying in Absecon>Question Details

Writer6275, Home Buyer in Absecon, NJ

I am considering new construction. Is there any reason a realtor would not want to show me such properties?

Asked by Writer6275, Absecon, NJ Mon Aug 17, 2009

My husband and I interviewed three realtors yesterday as we are considering putting our house on the market. During the process, we mentioned some interest in a nearby development going up that we know is in our price range. All three kind of glossed over this and only talked about other listings. Is there a reason a realtor would steer us away from new construction (other than shoddy workmanship)? Is the commission any different? One realtor did follow up today and send a listing for the development--in the listing it said "Compensation SAC 2.5 percent" and "Compendsation TBC 0" What does this mean?

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Francesca Patrizio’s answer
Writer,

Kudos to you for taking the time to interview 3 different RE companies to list your proprty for sale. In my view, based on the info provided, the Reatlors were more focused on getting your current property sold than selling you a new property and that is admirable as after all that is what u called them to your property to do - sell your property.

Having said that, the agent that followed up with info regarding your potential purchase is most certainly forward thiniking and someone I would most certainly want on my team.

As for the "new construction" aspect, quite franky, most builders are offering more incentives to both sellers and Realtors in terms of compensation than ever before; therefore, I can't imagine an agent "steer" you away from a new construction, not to mention that this is illegal.

Love and Peace,
Francesca, Realtor, ePro
Francesca@PatrizioRE.com
Web Reference: http://www.PatrizioRE.com
0 votes Thank Flag Link Tue Aug 18, 2009
SAC is sellers agent commission, TBC is transaction brokers commission. Follow this link to get a better idea of Real Estate Agency Realtionships in NJ work.

http://www.trulia.com/blog/laura_giannotta/2009/08/what_buye…

It's possible the agents you interviewed wanted to get your home on the market first, because that will put you in a better position to negotiate on the new home.

Good Luck!

If you have more questions about new construction in Absecon, let me know.

Laura Giannotta
Keller Williams Realty - Atlantic Shore
609-384-6121
Laura@JerseyShoreViews.com
0 votes Thank Flag Link Tue Aug 18, 2009
Most new home builders offer a standard commission of 2.5% to 3%. Some offer less. This could be a reason the agents tried to steer you away from the development. If I were to list your home I would do whatever it takes to get you into the development that you desire unless there was a reason to not recommend it such as safety in the community or a bad location.

Best wishes,

Matt
Web Reference: http://HavilandGroup.net
0 votes Thank Flag Link Tue Aug 18, 2009
Hi there - generally with new construction, your must be accompanied by your realtor on your first visit to the property and registered in order for the relationship to be honored. The commission is also generally paid on the base price of the home. But as long as the relationship is honored there is no reason for an agent to shy away from showing you new construction.

Best,
Jeannie Feenick
"Unwavering Commitment to Service"
Search the MLS at http://www.feenick.com
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Mon Aug 17, 2009
First the agent will get a sales commission. No reason not to show you the listings you are interested in other than maybe showing you other opportunities,"leaving no stones unturned"! If the one area is all you are interested then tell them... Why make this more difficult!

SAC is "sellers Agent Commission" 2.5%
TBC is "Transaction Broker Commission"0%
Meaning the listing is willing to pay the buyers agent a 2.5% commission but nothing to a Transaction Broker

Buyers Agent is who will represent you the buyer
Sellers Agent is who represents the seller
Transaction Brokers does not represent either party in a sale. They work only to make the transaction without regard to representation of the purchase. The do not represent the buyer or the seller. Mostly these are Business broker but also seen in residential deals. Most agency's do act as transaction brokers. Many agency's do not offer commission to transaction brokers. There is no representation in a transaction broker situation. So no commission is paid to them.

I do not mean to get into a long discussion of what and/or who is or is not better. I am merely pointing out the answers to your questions without too much confusion.

Look for a representative you are comfortable with and buy a home. Don;t be overly concerned with commissions. Just hire an agent your are completely comfortable with and is comfortable with you.

I hope this helps.

Larry Sarlo
Weichert Realtors
609-868-1171
LSarlo@comcast.net
Web Reference: http://www.NJHomeHunter.com
0 votes Thank Flag Link Mon Aug 17, 2009
dear writer6275
It could be that the agents were more concerned with getting your home under contract(getting the listing), then get working on your purchase. The market conditions currently favor buyers, not sellers. So it would be important to get the home sold. A good agent can work with you to plan a smooth transition. Regarding the commission split listed 2.5 is the sales price commission to the buyers agent and transaction brokers dont do much in south jersey and they would receive no commision. FYI-Use a buyers agent when buying new construction, not the sales agent, she represents the sellers/developer. If you are still interviewing agents would love to meet with you. I can be contacted via email; jwhittaker@weichert.com
0 votes Thank Flag Link Mon Aug 17, 2009
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