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Updated 1 day ago on . Most recent reply

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James McGovern
  • Flipper/Rehabber
  • Bloomfield CT
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Agents who are capable of negotiating lower price on new builds?

James McGovern
  • Flipper/Rehabber
  • Bloomfield CT
Posted

How can I determine which agents are capable of negotiating lower prices on new builds versus those who fall for the gimmicks of helping with closing costs or other elements that result in higher property taxes?

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Matt Devincenzo
  • Investor
  • Clairemont, CA
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Matt Devincenzo
  • Investor
  • Clairemont, CA
Replied

I'd be interested in whether you know of any areas or builders that you can say have actually sold for discounts? 

Based on what I've seen in the industry in SoCal working as a civil engineer for builders, I don't believe any of them will ever give discounts. For the reasons Bill mentioned as well as, 1) the comps for future sales...AND because they have prior buyers in the neighborhood who will crucify them online if you kill their value with a low comp 2) many of them have loan, title etc as complimentary services in house, so some of the 'gimmick' they can make up or offset on other departments so it doesn't reflect directly to their accounts. 

The reality is they'd rather sit on the inventory than discount the sale. There are larger issues at play than just making a profit on that sale, and getting the same net on a higher sold price is worth more to them than just getting it closed sooner. 

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