High Days on Market Equals a Huge Price Reduction?

New Construction

I was talking with one of my new home builder sales consultants today. She related how several agents have been in with potential buyers and have commented that since the property has been listed for 120 days the builder should be willing to give the buyer a “huge” discount.

While I don’t really think that even applies to resale listings, it clearly does not apply to new home listings.

This particular property was listed while it was under construction and will not be completed until January 2012. The listing is correct in the MLS and we even have a comment in the property description letting potential buyers know that the property will not be ready until January.

“Days on Market” is not a public field within our MLS so it appears that some agents are simply searching by days on market, looking for “deals.” I would hope buyers agents would do a little research before coming out to the new home builder and demanding discounts!

My advice is to read the remarks in the MLS and don’t assume that higher days on market means a distressed seller willing to take a loss. This builder’s homes are selling fine and he rarely has any “spec” homes lying around.

High days on market does not equal a huge price reduction.

Tom Branch, Broker, CDPE, SFR

Do I Really Need a Real Estate Agent for a New Home Purchase?

New Home Under Construction

We get this question all the time from potential new home buyers. Do you really need one? No. Would retaining an agent to represent you in the transaction be a good idea? Yes, it would.

Some people believe they can get a better “deal” on a new home by working directly with the new home sales staff.

Most of the builders we know will not lower the price of the home simply because you don’t have an agent. Agent commissions are usually paid from a different fund that is not related to the sale of the home. Further, real estate professionals often know about unadvertised discounts and close-out pricing on new homes.

More importantly, there are many pitfalls in the buying process that are not related to pricing! Real Estate Professionals have the experience and knowledge to negotiate and guide you through the new home buying process.

Looking for a great deal on a new home?

Photo: Licensed from ShutterStock


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CB Jeni Homes Offers Special Holiday Pricing

The Branch Team | Real Estate Broker 0547597 | RE/MAX Dallas Suburbs

CB Jeni Homes located in the Estates of Willow Crest in Plano is offering special holiday pricing on two great homes.

Special Number 1 – 8712 Domingo – Reduced Almost $60k!

Plano TX Homes For Sale - 8712 Domingo

Copyright 2010 - Imaged2Sell

4 Bedrooms | 3 Baths | 2-Car Garage | 3126 SF/Building Plan

Plano TX Homes For Sale – Luxury new construction in Frisco ISD with hand scraped hardwood floors. Country French kitchen with custom cabinets has granite counters, double ovens, breakfast bar, and under cab lighting. Designer touches include iron balusters, bull nose corners, art niches, granite in all baths, and upgraded front door with iron. Game and media great for entertaining. Enjoy the community pool, park and playground. Easy access to Hwy 121 and the Tollway. Ready late November.

Click here for current status, pricing, photos, and a virtual tour.

Special Number 2 – 8722 Domingo – Reduced Over $30k!

Plano TX Homes For Sale - 8722 Domingo

Copyright 2010 - Imaged2Sell

3 Bedrooms | 3 Baths | 2-Car Garage | 2546 SF/Building Plan

Plano TX Homes For Sale – Beautiful new construction in Frisco ISD. 1.5-story plan with game room and full bath up. Gourmet kitchen has huge island, granite counters, under cabinet lighting, brkfst bar, and stainless appliances. French doors lead to office rotunda. Designer touches include art niches, iron balusters, archways, bull nose corners, and upgraded fixtures. Enjoy the community pool, park and playground. Easy access to Hwy 121 and the Tollway. Ready November.

Click here for current status, pricing, photos, and a virtual tour.

Source: NTREIS

Plano TX Homes For Sale – 8712 Domingo

The Branch Team | Real Estate Broker 0547597 | RE/MAX Dallas Suburbs

Plano TX Homes For Sale - 8712 Domingo

Copyright 2010 - Imaged2Sell

4 Bedrooms | 3 Baths | 2-Car Garage | 3126 SF/Building Plan

Plano TX Homes For Sale – Luxury new construction in Frisco ISD with hand scraped hardwood floors. Country French kitchen with custom cabinets has granite counters, double ovens, breakfast bar, and under cab lighting. Designer touches include iron balusters, bull nose corners, art niches, granite in all baths, and upgraded front door with iron. Game and media great for entertaining. Enjoy the community pool, park and playground. Easy access to Hwy 121 and the Tollway. 

Click here for current status, pricing, photos, and a virtual tour.

Source: NTREIS