Mistake #1: Visiting a model home on
your own Builders normally
charge set prices for homes, but many offer referral fees to
real estate agents who bring them buyers. The only way
you can capture part of this referral fee is to make an
offer through an agency--like SixHomes--that's willing to
share the referral fee with you.
Many builders, though, won't pay a
referral fee at all unless the buyer is accompanied by an
agent when first visiting the models.
The safest way to ensure you get cash back
when buying a new home is to list the model home development
as one of your six choices and let one of our field agents
accompany you during your first visit.
Mistake #2: Signing a guestbook
at an open house
The agent on duty at an open house is
usually the listing agent, who represents the sellers and
splits the 5 to 6% total commission with the buyer's agent.
Some listing agents won't mind if you tour
their open houses and then ask SixHomes to represent you.
But many will object, saying that they should
receive the commission since they were the first to show you
the home. If they succeed, they'll be able to "double
dip" and get the buyer's agent's share of the commission in
addition to the listing agent's.
We recommend that
you not attend open houses, but if you must:
- don't give your name.
- don't sign anything.
- say to the agent on duty, "I'm being
represented by another agent. May I take a look?"
Any questions?
Please call us at (707) 481-1776.
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