Home Buying in 20152>Question Details

Nektopoli, Home Buyer in District of Columbia

Went looking at new homes w/out my Buyer's agent...

Asked by Nektopoli, District of Columbia Wed Dec 16, 2009

I went out looking at new homes in the DC metro area just to see how the actual product look compared to the floor plans, it was a weekday and the model homes were empty so we look around and then spent some time talking with the sales person. They went over the price list and said they were discounting the list price $80K (price range was $569K to $610K) and throwing in a finished rec room and sun room. I'm now wondering if I go back in with a buyer's agent do all the before mentioned incentives go away and we have to start negotiating from list or will my agent be able to start from the discounted price I was quoted during my visit?

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At one visit I did fill out a sheet of paper with my contact info and it's ask if I had a buyer's agent to which I answered yes at the first two I didn't fill anything out and and at only one of the first two incentive were discussed. I talk to my agent about this and he ask some of the sales peoples name knowing some of them, Jim at that time I did not have a written agreement with my agent so I don't know if technically I am considered to have one.
0 votes Thank Flag Link Sun Dec 20, 2009
The first question is: Do you have a written agreement with your agent? If so; then you need to get your agent involved in the process right away; as they are entitled to a commission. If the builder will pay it; is a different subject.
I think in these financial times; if a builder is faced with paying your agent or losing a sale - they will gladly pay.
0 votes Thank Flag Link Thu Dec 17, 2009
You should be able to start with the incentives that the onsite Agent gave you and go from there if you have an experienced Buyer's Agent. I sold new homes in a subdivision a few years ago in the Atlanta area. When people came in without a Buyer's Agent, I was quite happy to deal with them. I knew that my client, the Builder was going to make more money and so was I, as the sole Real Estate Agent. The Buyer's who came in with an experienced Buyer's Agent ALWAYS GOT THE BEST DEALS. If the onsite Agent was willing to offer that many concessions to you directly, then there is more still on the table.
0 votes Thank Flag Link Thu Dec 17, 2009
The incentives shouldn't change. The question is whether they will pay your real estate agent, or if you will have to pay their commission from your pocket. If you told them you had an agent, they will probably "let it slide" and pay your agent, as most of their policies require that your agent accompany you on your first visit. HOWEVER, there are builders that being so permissive. If that's the case, and you proceed with the sale, you may be obligated to pay your real estate agent separately at closing ( as part of your closing costs). I tend to agree with Glenda that if the builder is difficult on this, you will likely have continuing problems. I also used to work for builders, and they would not allow me to have a real estate license because then I would have been bound by certain laws and ethics that they did not want me to follow. What she said is very, very true. YOU NEED TO HAVE AN AGENT when you are working on a new home.
0 votes Thank Flag Link Thu Dec 17, 2009
Unfortunately, Ron, most builder's sales reps are *not* real estate licensees and are not bound by the regulations (there's a reason why some builders will make you put your license on inactive status if you go to work for them).

Nektopoli, I would have your agent contact the sales rep and explain the situation. If the builder is reputable, they shouldn't have a problem with you having representation. If they balk ... well, just imagine how they're going to treat you throughout the transaction.
0 votes Thank Flag Link Thu Dec 17, 2009
Debbie is on the mark...................

Several years ago this would definitely have been a problem.....but since these are different times and builders are generally cooperating with RE agents they should be willing to work with you.

Call and speak with the agent that you worked with initially.

Best of luck

Bill
0 votes Thank Flag Link Thu Dec 17, 2009
HI Nek

Did you mention that you had an agent?
Does the builder cooperate with agents?

In my experience, your agent would have had to take you to the site, and sign you in, in order to be recognized and paid a commission. That's how it is done here - it may vary where you are.

At this point, have your agent call the sales office, explain what happened, and see what they say. I would think in this market, they would welcome you back.......... even with your agent.

Good luck!
0 votes Thank Flag Link Thu Dec 17, 2009
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