It is a MYTH. You do not get a better deal on new construction without a buyers agent.
Buyers need representation throughout all different kinds of sales. The listing agent represents the Seller - that's it. A builder's representative is not representing the buyers interest and will not make suggestions that will give the buyer better value.
Beverly Herdman from Northern Virginia spells it all out in the blog below.
Looking for new construction in Norfolk County? Contact your Norfolk County Exclusive Buyer Agent.
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Our experience over the years and still continues. Buyers are convinced that if they visit a community and register with the sales rep and purposely tell them, No I don't have an agent, that they will get a better deal.
MYTH, there are NO better deals because you do not have an agent!
I will tell you straight up, it makes NO DIFFERENCE. the base prices are set with commissions and they will not reduce their price. More people lose in this deal at the end.
The question buyers should be asking the sales rep is, If I register, will you put in writing that I don't have an agent, and offer a 3% reduction in price, or offer 3% more in upgrades at no cost.
I actually would love to see that happen so we can once and for all prove this MYTH.
I can't tell you how frustrating this is in our market. So many lost commissions to great agents because of a simple registration form. Builders are making out on this theory.
Buyers please talk to an agent about representation before going in to a community. Remember that rep is there to make a sale for the builder and they are working for the builder. Who is working for you in your best interest? Yes, it appears on the outside it's not a big deal. But the reality is, are you properly being educated about the market resale. Have you weighed out your options between new construction and resale?
What if an agent could get you relatively the same home for $50,000 less. What difference would that make on your decision? The builder rep is not going to educate on the market, they will do anything to get you into a contract with their community.
Buyers, it is a MYTH that you receive a better deal on New Construction without an agent!
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Christine Smith is an Attorney and Exclusive Buyer Agent with over 25 years of experience in the real estate field.
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