Atlanta Buyer Seminar
December 15, 2007 No Comments
After writing the article on new home buyer beware yesterday I began thinking why and how this could happen. Why would 50% of all new home buyers’ elect to buy directly from the builder or the builder’s agent? Several thoughts came to mind and I want to share them with you.
My first thought was that buyers driving around come upon a new homes subdivision, pull in and before they know it they have become best buddies with the new home agent. I can see this happening as many of the new home agents are some of the most friendly and most personable people in the world. My next thought may carry a little more weight regarding Atlanta Real Estate as that is my market. In the Atlanta market there is a huge push by the Greater Atlanta Home Builders Association called Get Home Atlanta. This campaign entails advertising about why now is a good time to buy a home along with advertising a first time buyer seminar.
I, for one, have no problem promoting that now is a good time to purchase a home. I truly believe that it is! Interest rates are notoriously low and for new construction, the builders are making serious concessions to buyers in order to move the standing inventory. Several years ago during the hay day of real estate sales in Greater Atlanta, some builders didn’t even want to see us coop agents. There was plenty of traffic in their communities and if we didn’t bring them a buyer, a buyer would probably show up on their own. Well those days are gone and now the builders are begging agents to bring buyers to their subdivisions. They are even offering to increase our portion of the commission. One builder is even offering 8% to the buyer’s agent.
Here is where the rub comes in. Atlanta First Time Buyer’s, attending a seminar on purchasing a home that is presented by a builder group is like leading the sheep to the wolves den for safety. I firmly believe that every buyer should be educated in the home buying process. This education should be done by someone who has the buyer’s best interest at heart. Someone who has, say a written agreement with the buyer to represent them as required by Georgia Law. That’s right; Georgia Law requires that in order for a buyer to be represented in a real estate transaction there must be a written agreement. So who should this educator be? You guessed correctly if you said the Buyer’s REALTOR®. If you are a first time buyer in Atlanta, do yourself a favor, get with a qualified agent and learn what is involved in purchasing a home. Then, with your agent at your side, go take advantage of the wonderful home buying environment that exists today.
Comments
Got something to say?
