Arlington Virginia Condos -- Video How to Purchase New Condominium -- Especially New Construction
A huge portion of the new construction Arlington condos sold in Virginia --especially in urban villages like Clarendon and Ballston-- are purchased by "floaters". Floaters stroll in and almost always overpay for their condos. They often think they got a pretty good deal as they did not get all the information available on the true market values of the units.
The Myth of Purchasing a Condo without an Agent -- Save Money Right?
The floater usually is thinking if they buy without an agent they builder saves money; therefore the buyer should save money too. Makes sense in a perfect world, but as we've seen from the ballooning deficit the world is far from perfect, eh?
Why the Floater Myth is a Bust!
- Builder knows another floater will come in to purchase his Arlington condo near list price.
- Builder can manipulate which comps they give the floater to shape his perspective.
- If an agent has good experience negotiating with builder a lower price, the agent is likely to bring more buyers to close on the builder's condominiums for sale.
- The builder is motivated to give the best deals to the agents most likely to bring the most buyers to the table
- The buyer's agent --good ones--know how to get the best prices, have a reputation for being hardball, and know methods that make a combination of lower prices, lower fees, subsidies, etc. an easier pill to swallow for the builder while preserving the builder's comps so that future floaters will continue overpaying
For a detailed explanation spoken with conviction watch the wheel estate cam on Floaters Overpaying for Arlington Virginia Condos.
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