Today was a new construction mentoring day for one of my team members with me. There is another real estate office that has a lot available in the right location for my agent’s buyer, and there is no home under construction yet. The buyer wants to reserve the lot subject to an agreeable meeting with the builder and final determination of house plan, specs, allowances, final sale price and a fully executed purchase and sales agreement between the buyer and seller.
Building a custom home is a process and making decisions about what to build and agreeing on a fair price with specifications and allowances that are agreeable to both parties is another process. It all takes time, and in order to do this properly, the lot needs to be reserved and a 30 day period must be allowed for the buyer to visit with all of the suppliers; meet several times with the builder to make changes to his plan and finalize the price.
If the builder is not interested in taking the time to meet with the buyer to do some numbers to cover the buyers’ wishes, we need to find another lot. I have the perfect builder for custom homes, and this could be the first of many more custom homes to be sold by one of the Kuney-Todaro Team members. We’ll see what happens with this first builder with the other agent, but I don’t have high hopes for a deal with an agent who wants nothing more than a number on an offer to purchase and a check.
Building a custom home is a transaction that takes time to create and then more time to reduce the terms and conditions to writing. The attorneys need time; the architect needs time; and the agents cannot rush the process. This is not like selling a resale home. It’s a custom home and the key word is “time.” If the listing agent is only thinking about the commission, that agent should be listing resale homes, not lots that may have a custom home built on it.
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