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New Home Construction Commission Rebates

New home construction is going strong in the Research Triangle area of North Carolina. Towns such as Cary, Apex, Holly Springs and Wake Forest seem to have new home subdivisions sprouting up on every piece of available land. Both national and local builders are offering terrific deals on pre sale homes, spec houses and custom build to suit homes. Most builders have a 2.5 – 3% buyer’s agent commission built into their sales prices and will not reduce the sales price whether you use a buyer’s agent or not. If you choose not to use your own buyer’s agent, either the builder or the on site real estate agent will pocket the money that would otherwise pay the buyer’s agent.

New home buyers can benefit in several ways from having their own buyer’s agent. The agents who work on site at new home developments work for the builder and have a responsibility to look out for the builder’s interests, not the buyer’s. They often use custom contracts drawn up by the builder’s attorney rather than the more neutral standard forms typically used by real estate agents. A good buyer’s agent will have experience dealing with builders and know what questions to ask and where the builder might be willing to negotiate on price or by adding in extras. A good agent can also help buyers evaluate whether builder incentives such as payment of some closing costs in return for using the builders preferred lender and/or attorney are really a good deal for the buyer. A good buyer’s agent will also be able to give the buyer advice on the what to expect from building inspectors and why it is a good idea for buyers to hire their own inspector to monitor the building process.

In addition to excellent service and advice, Goddin Real Estate is able to offer another advantage few of our competitors can match – cold, hard cash. Goddin Real Estate’s buyer agent fees are based on how much in time and resources each individual buyer requires as a part of the buying process. Goddin Real Estate generally charges an upfront retainer to represent new home buyers, but in return Goddin Real Estate also offers substantial rebates of the builder paid buyer’s agent commission. The rebate can be used to pay the buyers loan closing costs or for upgrades at the design center (and buyers always want upgrades – the model home is full of them, but the base price buys just that – a basic house).

Builders policies vary regarding paying buyer’s agents. It is always a good idea to hire your buyer’s agent before you start visiting new home neighborhoods and have the agent accompany you on your visits or at a minimum let the on site agent know you have an agent and intend to use them if you decide to buy in that neighborhood. Letting the on site agent register you without listing a buyer’s agent may mean the builder will not pay your agent, which would also eliminate any possibility of you getting any rebate of the buyer’s agent commission.

Goddin Real Estate has extensive experience working with buyers purchasing new homes and will provide both excellent service and advice as well as help you save a substantial amount of money through providing a rebate. For more information on how Goddin Real Estate can help you make the best decisions when buying that dream new home and save a lot of money in the process, give us a call at 919-968-2100 or send us an email to John@GoddinRealEstate.com. We are happy to explain how the process works and how we can work together to make your dreams come true.