[VA] The Builder is the Realtor and wants to represent me as well

[Anonymous]

I negotiated directly with a builder and used a lawyer. You really don't need an agent with a builder. Either way, agent or your own lawyer, builder will hate it.

[Anonymous]

With our custom built house, the price was basically the price without us using a realtor. If we wanted to use a realtor the price would have increased by 3% of the sales price. If you were going to not use a realtor to buy this house that is already built, I would request 3% discount on the selling price to reflect that.

[Anonymous]

Anonymous wrote:He is supposed to disclosed to you and in all marketing materials that he is both the agent and, at least part, owner.

Is that by law?

[Anonymous]

This is pretty common with builders. They are also agents and sell their own houses. Why should they pay $100,000 to sell a brand new house?
We negotiated a price with our builder/agent and it was clear that it wouldn't fly if we had a realtor. The buyer agent works for the seller anyway, that's who's paying them.
We had an inspection and did a walk through punch list. He fixed all that stuff and we did another one after a year. Nothing major, but small stuff, and he fixed it all.
I've bought/sold lots of houses, and if you know the market, I think an agent is a waste of money.
Been here for years and no problems.
What exactly do you think a buyer agent does? Gives you referrals for an inspector? Closing agent?

[Anonymous]

Anonymous wrote:This is pretty common with builders. They are also agents and sell their own houses. Why should they pay $100,000 to sell a brand new house?
We negotiated a price with our builder/agent and it was clear that it wouldn't fly if we had a realtor. The buyer agent works for the seller anyway, that's who's paying them.
We had an inspection and did a walk through punch list. He fixed all that stuff and we did another one after a year. Nothing major, but small stuff, and he fixed it all.
I've bought/sold lots of houses, and if you know the market, I think an agent is a waste of money.
Been here for years and no problems.
What exactly do you think a buyer agent does? Gives you referrals for an inspector? Closing agent?

Well what if the home has been sitting for months and is overpriced? Do you just take the builder's price and subtract the realtor fee?

[Anonymous]

AgentX wrote:If you're going to go into a builder unrepresented, you are absolutely going to walk out with a much worse deal than if you take an agent with you. And not just any agent, you need one who knows how builders work, where their profits like, what can be negotiated, etc. You need a Realtor who has worked for a builder.

+1,000,000,000

[Anonymous]

AgentX wrote:If you're going to go into a builder unrepresented, you are absolutely going to walk out with a much worse deal than if you take an agent with you. And not just any agent, you need one who knows how builders work, where their profits lie, what can be negotiated, etc. You need a Realtor who has worked for a builder.

Edited for spelling. Argh!

Nonsense promulgated by agents that just want to make sure that nothing gets sold without them getting a cut. New houses are very easily comparable - sq ft, types of appliances, etc. Educate yourself and you'll be fine. The only thing agents are good for is getting you into the door of existing homes - expect that to be eliminated by technology soon enough.

If you cannot be bothered to educate yourself on buying house, then you should expect to pay for an agent.

[Anonymous]

Anonymous wrote:

Anonymous wrote:He is supposed to disclosed to you and in all marketing materials that he is both the agent and, at least part, owner.

Is that by law?

Agent here. Yes, it's the law, as well as in the ethics code that you must disclose if you have an ownership interest in a property you are selling as the agent. Give the licensing board a call and let them know.