Buyers thinking of going to the builder without a buyer's agent, think again! Read this post written by Barbara Todaro who has worked for many builders. She lays it out for you. Don't make the mistake of going it alone. A good buyer's agent can save you a fortune!
Buyer Beware! I have been saying this for years and have written about it - Should I hire a Buyer's Agent for New Construction. Yes, you should! It costs you nothing to hire a buyer's agent. Do it, especially for new construction. You will come out far ahead.
Read what Barbara has to say and then decide for yourself. I think you'll be surprised.
The listing agent of new homes in subdivisions have many hats to wear, when representing a builder. The focus must always be directed in favor of the builder.
One of the main tasks is to sell extras. There must be a list of “Frequently Requested Extras” with their respective prices for the listing agent to present and promote at the right time. The emphasis is “at the right time.”
The right time is “after the purchase and sales has been fully executed.” Get those spending juices flowing, and remember, “the eye buys.” Be prepared “to show” the finished extra projects and/or items.
This task cannot always be a successful one, and that’s dependent on the sophistication of the buyer. If the buyer has the common sense and is educated enough to secure the guidance of a well-versed buyer’s agent, the extras will be slim to none! Emphasis here is on “well-versed.”
Fortunately for the builder, most buyers searching for a new home do not hire a buyer’s agent. One of the positive results for the builder is the profit margin on those homes compared to those where a buyer’s agent was on the scene and accompanied the buyer through the entire journey!!
The listing agent’s job, regardless of the presence of a buyer’s agent, is to sell extras. There is a great profit to be made by many of the popular items and/or amenities to be added. The prices are usually based on what the market will bear. Those numbers may come from an agent who has experience with other builders and their success with selling the extra.
Beware, buyer agents!! Not all extras will hold that value in the future. There may be a total loss of value with the addition of particular extras. Those are the money makers for each builder. I’ve seen 150% or more profit margin on many items.
Just another thought for the moment……
Barbara Todaro, sales manager of RE/MAX Executive Realty
Marketing Agent for The Todaro Team
308 W. Central St...suite E
Franklin, MA 02038
Exclusive Marketing Agent for The Todaro Team
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