FAYETTEVILLE NC NEW HOMES FOR SALE FAQ - CAN I GET A BETTER DEAL WITHOUT A BUYER’S AGENT?
Q: Will builders give Buyers a better deal or discounts on a new home for sale in Fayetteville NC when the Buyer does not have an agent?
A: Here is the quick answer:NO!
It seems that somewhere along the line, Buyers were led to believe that they would get a better deal on a new home purchase by stating that they did not have a Buyer's Agent, and then signing the registration book provided by the helpful sales agent on duty (who happens to work on behalf of the builder).
THIS IS NOT TRUE, mainly due to the fact that new home prices in Fayetteville NC are firmly set with the sales agent commissions already factored in, so price reductions are not going to happen.
But don’t just take my word for it. Try this simple test before signing the registration book in a new home community. Politely ask that helpful sale agent (Did I mention that the sales agent works for the Builder? Just checking) to put into writing that you will receive a three percent reduction in price on the home you purchase or put into writing that the three percent will go towards incentives and upgrades not already included with the new home. I mean, this should not be a problem right? It’s not like you have a Buyer’s Agent that the builder is going to have to pay three percent to for representing you. If not having your own agent is really beneficial to you, then this reduction should be easily agreed to right? Wrong. It will not happen.
So why won’t it happen? For one of two reasons. Either the builder is going to retain that three percent fee they would have paid the Buyer’s Agent, or the sales agent for the builder will keep the entire six percent commission. Either way, the Buyer does not get a better deal.
If you plan to visit any new home community in the Fayetteville NC area, always consult with an outside agent about representation before meeting with the builder’s sales agent and signing anything, even the registration book.
DO NOT FORGET:The sales agent’s fiduciary responsibility is to the builder. The sales agent is there to close the sale for the builder, not to get the Buyer a great deal.
Far too many Buyers are lulled into a false sense of security by the sales agent who appears to be working in the Buyer’s best interest. Why is that a big deal? Because even though the sales agent that works for the builder is well versed on the community, the available new home inventory, and what is coming in terms of new development inside the community, these issues become moot once your deal is finalized.
As a Buyer, what you really need to know will not be passed on to you. For instance, all real estate purchases, especially those in a transient military community like Fayetteville, need to proceed with resale in mind.
Is the sales agent that works for the builder going to properly educate you about the market resale inside their new home community since it will continue to grow for the foreseeable future? Will the builder’s constant inventory of new homes make it nearly impossible to sell your pre-owned home in the future because you will then be in direct competition with the builder's new home inventory that is priced at or below the value of your pre-owned home?
Have you been made aware of the options between new homes and pre-owned homes for sale in the new home community? Probably not, especially since a vast majority of sales agents (not all by the way) are discouraged from showing anything other than the builder’s new home inventory.
How is limiting your choices of available properties good for you, the Buyer? What if an outside agent representing you could help get you a comparable pre-owned home inside the new home community a lower price? Wouldn’t that impact your decision? These questions are just a few that should make you think about “that great deal” the builder’s sales agent is promising you.
REMEMBER! The sales agent for the builder has no interest in educating you on the resale market that exists in their new home community. Their sole interest is to close a contract on the available new construction in their given community, NOT TO ENSURE THAT YOU RECEIVE A BETTER DEAL ON A NEW HOME BECAUSE YOU DO NOT HAVE AN AGENT!