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Buyers concerned about costs should be aware of the differences inherent in working with sales agents who are employed by the developer, rather than traditional real estate agents. Most developers hire a staff of sales agents to handle their properties and will not pay an outside agent's commission. Builders commonly require that an agent be present, and sign in, the first time a prospective purchaser visits a site before payment of commission even is discussed. At times when buyers use an advertisement to find the development themselves first, builders can refuse to pay any commission regardless of how helpful an agent may become later in the process. It is advisable to call the development first and inquire about their policy on compensating real estate agents if you are considering using one. Experts say to beware of paying the average 6 percent commission an agent would charge someone buying a new home if all they are really doing is giving you a ride to meet the builder. People who need assistance in shopping for new homes may want to retain an attorney or hire a buyer's agent for a flat fee to review the paperwork and provide any necessary protection against overly aggressive sales agents, whom the developer has hired with one purpose in mind. Not using a real estate agent also can improve the buyer's chances when negotiating. Because the builder does not have to pay the commission, this affords the buyer an opportunity to request extra amenities -- up to what would have been paid for the agent -- when making the purchase. |
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