So many developers are sitting on millions of dollars worth of real estate because the market just isn't what it was several years ago when they began buying up all the property. From 2000-2005 or so the market was great and builders couldn't keep up with demand. This led to more builders and developers entering the industry and if they couldn't get them all sold them, they may still be sitting on them today. The prices for these new homes have dropped dramatically and builders and developers are doing all they can to get these homes off their hands from offering extravagant buyers bonus to buyer incentives, even cars and trips.
But how is a buyer to really be cautious when considering this type of home? The model homes and showrooms are always set up nice and appeal to the home owners dream of a house custom designed. The buyers are walking into these showrooms completely uneducated and unattached and there is nothing a listing agent loves more.
Here are some key points to keep in mind when considering purchasing new or pre-construction.
1. The listing agent will do just about anything to sell the home.
The listing agent has been hired by the builder or developer to sell the properties. The agent may be receiving a kickback but almost 99% of the time that agent is getting 100% of the commission. Not only does the agent get the selling side but also the buyers side when a buyer walks in without a buyers agent on their side. Of course real estate agents need to make a living too but at what extent are some willing to do to sell a home? Without knowing your agent well it's hard to determine if the agent is truly looking out for your best interest or their own. So many business owners are more after the almighty dollar than actual customer service anymore and finding an ethical and honest agent is sometimes a stretch.
Don't let me scare you off completely; there are some great agents that truly love not only what they do but who they work for as well. Taking that into consideration, not knowing who the listing agent is really working for, it only pays to have your own buyers agent.
2. Get a buyers agent to represent you.
Having an agent solely on your side throughout the process ensures your interest and your financial state will be keep at top priority. If the listing agent knows too much about you that is not required to be disclosed, this can be used against you. having a buyers agent not only puts pressure off you when touring these homes but it keeps your interest at the forefront. A buyers agent is only concerned about the buyer finding the right house, not selling any one house in particular. They negotiate on your behalf and weed through all the legal jargon that can sometimes become a blur for buyers.
3. State your case when you enter a showroom.
When you tour model homes or showrooms the typical response to listing agents is like that of a used car lot. The descend like vultures clamoring to sell you a house. If you state upfront you are working with a buyers agent then the pressure is off. You might even have to be persistent because some agents will still try and steal you away. This is even more reason for concern as they are not respecting anyone involved.
Again, hear me, not all agents are like this. There are some very devoted and respectful agents and brokers out there that love what they do because of the customer. But these are pre-cautionary thoughts to keep in mind when considering buying new or pre-construction.
For excellent agent representation in the Sedona AZ real estate market consider the helpful agents with Remax Sedona. Not only do they help provide buyer and seller services but also mortgage and loan information.
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