Happy Monday and happy daylight savings
I am in the process of reviewing a builder contract that is not executed. But I was noticing in the contract there are some new little things that builders are adding, and I think that they're having to take out some of their liability to on the supply issues and they can't guarantee certain things
One thing that I really liked about this is on the commission protection agreement. This particular builder is still paying three percent, at least at this very moment. And I like that it does specify a couple of things. It says one that you must accompany your buyer. On their first visit to the sales office, or you must contact them to confirm your representation prior to negotiation of the contract. You actually do have to assist the buyer in communicating with the builder about the sales, and there's a couple of other things, but those two are huge.
It's important that the representation is there and that that this builders holding agents accountable for what they're doing.
March 7 through March 13th, we had 2 contracts turned in
Contracts- We weren't accepted as the first offer, meaning we submitted an offer. We came in like second or third place and then all of a sudden we either became backup.
We asked to be a backup or our agents did keep in touch with the listing agent to see if anything about the primary contract fell through and. When it does fall through, if we're right there and we're communicating, you know what, a lot of times our offers will become the primary offer and that works out really well. So don't ever discount if you don't get it immediately to stay in touch with the agent and see what you can do and communicate well and that that happens.
We are seeing a lot of times sellers are accepting offers from cash fires that are typically out of town, haven't seen the property and then they get into their auction period.
So communication be key. Big takeaway.
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