Buying Brokers and New Developments

the buyers broker will be collecting 3-4% of your money at closing.

Or even 5%, as at the Azure back in December.

I thought the sponsor pays the marketing company the same amount with or without a co broker? So if I walk off the street to purchase a place in a new development, you are saying, immediately, I have a 3-5% price advantage over someone who shows up with a broker?

I'm more of a co-op broker, but my understanding is that there's an assumption that a certain number of buyers will be unrepresented, so it's not like there's a pool of money you can squeeze out by showing up w/out a broker.

ali r.
DG Neary Realty

In most cases the onsite marketing collects a higher rate if you walk in alone. However they represent the seller and are trying to get them the best sales price. Most of the time The price you can negotiate to is the same whether you use a buyers broker or not because the sposnsor has a certain price per square foot he is willing to negotiate to and will never drop below. However, I am familiar of two buildings which will negotiate a bit more if you dont have a broker.

Usually the case is the buyer's broker splits the commission with the seller's broker whether 50/50 or whatever is discussed between them. The commission is a % of the final sale price.

But the argument usually goes that the buyer broker also works for the seller because the final sale price also influences how much he makes from the commission.

Read about what we do (rebate commission)

http://theburkhardtgroup.com/agents_details.php?agent_ID=7619

I'm buying in a new development and my broker has been awesome. Not only did he negotiate a good deal for me with nice concessions, but he also was there for all my walkthroughs and helped with my punchlists. He also is helping pressure lawyers to get to closing as seamless as possible.

stencil, glad to hear your broker earning their pay.