Home Buying in San Ramon>Question Details

Chuck, Home Buyer in San Ramon, CA

Windemere Sera Vista/La Sera by Centex Eliminating Broker Co-Op: Can anyone confirm?

Asked by Chuck, San Ramon, CA Tue Apr 22, 2008

I went to visit San Ramon Windemere's Sera Vista/La Sera by Centex this past weekend. The sales office said they are eliminating the broker's commission starting in May. In other words, Centex will no longer pay the 3% commission to any an agent representing buyers at Sera Vista/La Sera. This is bad news for buyers who are counting on getting back a portion of the commission from an agent. So, as a potential buyer (like myself), if you are counting on getting back about $15k (a decent amount of money) from your agent, that's not going to be possible because there's no commission for the buyer's agent (for closings starting in May).

Help the community by answering this question:

Answers

9
Chuck, I couldn't less agree with you about rude agents. I think Zia is a great agent. She has done lots of home work on Windemere community, specifically Centex.
2 votes Thank Flag Link Tue Apr 22, 2008
It is clean math. All buyers are worried about price. If it is a $1M home. Builder will pay 30k to the buyer's broker (3% is common). If they remove broker co-op and start selling 1M home at 970k, it is same cost to them - whether pay 30k to broker and give 30k discount to buyer
1 vote Thank Flag Link Wed Apr 23, 2008
Andrew, you need to do your homework. Other agents (your competitors) are proactively offering to give a portion of their commission back to buyers. I don't even have to ask for it. Additionally, some of these agents are very nice, professional, and savvy. So, they offer me as a buyer a better deal and an enjoyable experience. They are not at all rude and unprofessional like you, telling me to "keep your hands off their salary".
1 vote Thank Flag Link Tue Apr 22, 2008
Dear Chuck,

Hope you're doing well. I was given the same information at La Sera/Sera Vista, and Oliveta by Centex.

If you're looking at the Centex New Home communities in Windemere, you have some great options on inventory homes (May-June 2008 timeframe) at Sera Vista & La Sera, in addition to Dirt lots (November 2008 timeframe) that can be negotiated prior to May.

At Oliveta, you have Plan 2 inventory homes that are available. In addition, Oliveta will have a new release Saturday April 26th at 10:00 am targeting to release lots 201-204.

If you're considering Centex, you have a few options on having a Real Estate Professional represent you at Centex prior to their May cutoff date.

Good luck!

Thank you.

Warm Regards,
Zia
1 vote Thank Flag Link Tue Apr 22, 2008
Windemere homes have enough demand(good schools, location, location), no need to pay agents' finders fee. The development is finsishing up its last phases and its well-known.
0 votes Thank Flag Link Thu Jul 1, 2010
I just noticed the "nice" feature here that you can remove your own postings.
0 votes Thank Flag Link Fri Apr 25, 2008
My ONLY point is that buyers should worry more about the price of the home, the floorplan, the neighborhood, the options etc. etc. and less about the money that I'm making.

End of subject...................... (at least from me)
0 votes Thank Flag Link Wed Apr 23, 2008
Andrew,

Let's trace the money flow.
Buyer's money --> Seller,
Seller - - commission (~6% of purchasing price) --> Seller Agent,
Seller Agent -- ~50% of commission --> Buyer Agent

Yes, your commission is paid by seller agent. But he/she is not your boss. Seller agent is the middleman, redirect a portion of buyer's money to you. So, if you want to appreciate, you better appreciate the buyer, rather than the seller agent.

For the second point, I partially agree. There are deal closed not at the highest bid. The reason is seller count in the risk factor. That way, the highest bid price may not necessary the best price. Buyer's financial situation takes important role. It's a buyer's agent's job to emphasize client's strength and let seller know your price is the best price, counting in risk and transaction time factors. Ultimately, it's still buyer's attributes attract seller, your skill helps, but not as important as seller's status.

Please dont' get me wrong, even in this bitter market and transaction numbers low, buyer still willing to pay decently to agents. It's about motivation. (economic 101, people driven by incentives).

But don't take it for granted, you should prove yourself you by providing quality service and adding value. Accpeting a commission at market level but provide substandard level of service is cerntainly not a good way to build your reputation.
0 votes Thank Flag Link Wed Apr 23, 2008
Andrew,

Remember it's BUYER who pays your commission, saying "get hands of my salary" is ridiculous.

buyer agent splits commission not just start today, I know it has been a common practice in many areas for at least 4 years. If you feel insulted and get angry, you are very out of touch. No one knows who starts it, no one knows it is good or bad. it's MARKET.

Maybe you have good sales skills, making great numbers every quarter, the fact is ultimately money talks. Seller accept your offer not because of you, the agent, but the buyer's offer price, and buyer's financial status (credit score, down payment, etc)

If your bid is $800K, another bid for $820K, tell me why the seller should take your bid just because of YOU?

I have been on this BBS for a while, read every thread, ask questions, and always good answers. They are many good realtors in this board offer very good information and they are very helpful.

I don't see you offered much help to other people in this board, the only thing I see from you is you distant yourself with other realtors and humiliate the group of people you try to serve. Is this the professionalism what you talked about?
0 votes Thank Flag Link Wed Apr 23, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer