By Sonny Shrivastava
This is quite possibly the biggest secret in the business…
When you buy a new build, did you know that you can have a Realtor® negotiate on your behalf, review your contracts, represent your interests, and pay you an incentive? Every builder budgets at least 3% of the base price of the home as commission to a Realtor, whether there is one or not. If you don't have one, the builder keeps this money.
The builder's sales office represents the builder's interests, not yours. All of the salespeople are licensed Realtors®, which puts you at a disadvantage. Who looks out for you, to make sure the terms are fair, you aren't overpaying, and you don't lose your deposit over a technicality?
That's where we come in. In order to represent you, the builders require that we accompany you on your first visit to the sales office. When you fill out the builder's registration form, we also fill out a Realtor® registration form to ensure we can represent you. The builder pays us a commission, and in turn, we will give you back 1/3 of our commission (equal to 1% of the base price of the home).
How Do I Get My Rebate?
Step 1: We accompany you on your first visit to each builder as your Realtor®
Step 2: We negotiate a great deal on your new home
Step 3: At closing we will credit 1% of the base price towards your closing costs
At close of escrow, we will issue a credit from our commission equal to 1% of the base price of the home towards your closing costs. This effectively reduces the cash due at closing by the same amount, putting that cash back into your pocket.
VERY IMPORTANT—The builders require us to accompany and register you on your first visit to their sales office. They set the rules. Contact us before you visit the builder, otherwise we cannot represent you or pay the incentive.
The Sonny & Daniella Team Can Help
In such a competitive market, it's important to have the most updated information at your fingertips and the most experienced Realtors® at your side. We recently negotiated double the incentive for several of our new construction buyers, saving each of them tens of thousands of dollars above and beyond what they were able to negotiate by themselves.
Contact Sonny & Daniella today, or call (623) 824-4275, and let us help you get 1% cash back on your next new construction home!