Before I became a REALTOR, I also wondered the same thing and being a REALTOR I now know the benefits in having a Buyers Agent or a Listing Agent and a Dual Agent. It is a great question b/c if you don't do Real Estate for a living it is difficult to understand.
First, there are different Agency, A Listing Agent, A Buyers Agent a Dual Agent. All agents have the same obligations to the client and/or customer and follow the Real Estate Laws (State and National). In a Buyer Agency relationship you are my client and my loyalty is to you . I ensure it is a seamless process.
I can provide you with a form that explains the obligations of each agency relationship.
When moving to a new area, I believe it is essential to have someone on your side. Due to the different Laws and difference in land, pricing even differences b/t State Counties and all of these could effect or delay financing and settlement.
Hope that helped you understand the agency relationship and the importance of having an agent on your side.
If you need further assistance, call me and I will elaborate or assist you in the buying process.
I am work with Jack Lingo in the heart of Rehoboth Beach!
Jack Lingo, Realty
246 Rehoboth Avenue
Rehoboth Beach, Delaware 19971
Henry McKay 302-226-6648
Jack Lingo REALTOR
Working with a REALTOR is always in your best interest. As a buyer, you don't pay the REALTOR so no need to worry about that. Using a REALTOR, especially with new construction, is very important. There's a little devil in some builder's details that you may not be aware of and would never know about without a REALTOR. Here's a simple example. Some builders levy the entire transfer tax on the buyer and won't split it 50/50. Without a REALTOR, it may be presented to you from the builder as the norm and could cost you thouands. You may also be told you don't need a home inspection, or there's no need to review the Delaware Uniform Commom Interest Owners Act financial disclosures of the development. Working with a REALTOR can help you avoid major pitfalls and keep things on track.
Your second question about comps from an appraisal perspective. Unfortunately, the short answer is no, not unless your REALTOR actually had the previous appraisals. A buyer pays for an appraisal when they get a loan and the appraisal is owned by that buyer and is not published information. However, what a REALTOR can do is provide you sold market comparables that match the unit you are proposing to purchase. While a good market comparible is very good and is what appraisers use, in part when completing their appraisals, a comparable and a Comparative Market Analysis (the product of using comparables and putting them into an alalytical format) should not be confused with an appraisal, but it is pretty darn close.
I wish you tremendous luck in your purchase and welcome to Rehoboth Beach!
with kindest regards,
Tom Schoenbeck REALTOR
Keller Williams Realty
19354 Coastal Highway
(302)63207407 (24-hour cell)
I moved to the beach about ten years ago from Fairfax (Herndon).
How much negotiation room on price/upgrade prices do people think there is currently in the RB market?
The market has picked up but having an agent that knows the local market will help you get your best price.
Does working with an agent help/hurt in this regard,i.e. negotiation for reductions. Looking at Summer '13 delivery.
Most builders have set aside commission money for agents. Bringing an agent should not hurt any negotiations.
Also is there a good way to find out what the comps are from an appraisal perspective for a 3 Br, 3.5 BA unit are?
Sure. Shoot me an email and I will send you all the comps.
Beach Bound Realty
It is always best to have representation from a REALTOR acting as your Buyer's agent. All questions relating to the transaction, including your questions, would be answered by the agent representing you.
Are you currently working with an agent? If not, please feel free to call or email me at anytime.
Michael Kogler, REALTOR
MIKE KOGLER TEAM
Long & Foster Real Estate, Inc.
Delaware Coastal Properties Division, Rehoboth Office
Cell: (302) 236-7648
Fax: (302) 227-8165