REALTORS Sell New Construction Properties Too

Reblogger Karen Baker
Real Estate Broker/Owner with Sunset Beach and Beyond Realty

Now this is what we would like all buyers to realize. Bob, thank you for allowing us to reblog this pertinent information to our buyers!!

  1. The sales associate in a new construction development represents the seller, the developer, not you the buyer
  2. The REALTOR represents you when you are working with a Buyer Agent
  3. New construction sales associates recognize that when a buyer is working with a REALTOR, the REALTOR will show the buyer all the competitive new and resale properties for an informed decision. The new construction sales associate will not do that. The new construction sales associate becomes aware that the buyer will be well informed and that there is competition for the buyers business.
  4. Buyers often feel uncomfortable negotiating. That's what REALTORS do. We push hard for you, the buyer, for incentives and extras.
  5. REALTORS are aware of the usual and customary closing cost items and what they should typically cost. WIth new construction the rules often change by the terms of the developer's contract.
  6. REALTORS are well informed regarding all new construction communities. We are provided information about all new communities well in advance of the initial offering.
  7. REALTORS are routinely invited to developer REALTOR only marketing events touting their community and product. Why? New development developers rely on REALTORS to bring to them a large percentage of buyers. Often REALTORS are the first contact in the area.

Myth: A better deal without a REALTOR. Refer to number seven above. Developers will not risk one deal with the prospect of losing the  respect and support of all REALTORS in the area. There is just too much business to lose.

 

Original content by Bob Pisa, Broker Associate

REALTORS Sell New Construction Properties Too

Buyer representation should not be overlooked for resale and new construction

Image courtesy of Bill Longshaw at FreeDigitalPhotos.net

Often I will work with customers for a short or long time period primarily on resale listings. Then I'm told that they have turned their attention to new construction and for some reason that equates to I don't need a REALTOR.

This certainly has happened in the past, but lately with more frequency. I firmly believe that the lack of inventory, good inventory, is pushing buyers in that direction. This is understandable. Often, based on requirements, I start by showing new construction property first so the buyer will have that to compare to while shopping resale. I would say that one out of four or five times new construction becomes the choice that the buyer never even considered.

I believe the buyer turning directly to the developer happens because they don't think that a REALTOR can help in the transaction. Nothing can be further from the truth and there are several reasons to engage a REALTOR for buyer representation.

  1. The sales associate in a new construction development represents the seller, the developer, not you the buyer
  2. The REALTOR represents you
  3. New construction sales associates recognize that when a buyer is working with a REALTOR, the REALTOR will show the buyer all the competitive new and resale properties for an informed decision. The new construction sales associate will not do that. The new construction sales associate becomes aware that the buyer will be well informed and that there is competition for the buyers business.
  4. Buyers often feel uncomfortable negotiating. That's what REALTORS do. We push hard for you, the buyer, for incentives and extras.
  5. REALTORS are aware of the usual and customary closing cost items and what they should typically cost. WIth new construction the rules often change by the terms of the developer's contract.
  6. REALTORS are well informed regarding all new construction communities. We are provided information about all new communities well in advance of the initial offering.
  7. REALTORS are routinely invited to developer REALTOR only marketing events touting their community and product. Why? New development developers rely on REALTORS to bring to them a large percentage of buyers. Often REALTORS are the first contact in the area.

Myth: A better deal without a REALTOR. Refer to number seven above. Developers will not risk one deal with the prospect of losing the  respect and support of all REALTORS in the area. There is just too much business to lose.

There are now and soon to be nearly fifty developments where new constructin produce may be purchased just in the southwest Florida geographic area where I work. Call me.

 

 

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Bob Pisa, REALTOR, Naples FL, Real Estate, Homes for Sale

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Bob Pisa, REALTOR®

Downing-Frye Realty, Inc.
Naples and Bonita Springs offices

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John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Frank and Karen.... Long time no see.  Hope you guys have either been super busy with work or on an extended exotic vacation :)  Good to see you again!

Aug 03, 2013 07:50 AM #1
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Paul F. Stillwaggon
Weichert Realtors - Warren, NJ
NJ Estates Real Estate Group, Weichert Realtors

Thank you for a great post and sharing this valuable information. I would love to talk to you sometime about new construction. I have been doing land and new construction projections since 1982 in New Jersey, I have done hundreds of new homes, to make it short I have represented both sides on over 50% of my new home sales and have never had any problems at all. Who has more knowledge about a job site than the listing agent, if he is a pro.  http://www.njestates.net/Resources/Buying_New_Construction

Aug 03, 2013 08:04 AM #2
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Karen Baker
Sunset Beach and Beyond Realty - Sunset Beach, NC
Professional Help with Rapid Responses...

Hi John!! Been super busy but trying to sneak back in when we can!!

Aug 03, 2013 09:29 AM #3
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Karen Baker

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