New construction open house; builder wants contact info.

[Dave Skitz]

I did an open house on a $350,000 new construction this past weekend for a listing agent from my office (4% LAC and 2% BAC). Next door was another new home by same builder but it was not listed. Builder met with me prior to the open house on the listed unit and said if anyone was interested in the non-listed house just call him and he'd bring the keys.

Well, that's what happened...I had a couple show up and they were very interested but wanted to see the non-listed unit next door. They liked that even more and I think they are going to make an offer. Builder says he wants the couple's contact information and if they buy the non-listed home he will throw the LA $5000.

Your thoughts are appreciated!

[ericbadgley]

I would tell him to tak a hike, you are in control you have the buyer. Tell him if they are interested you will write the offer. When you write the offer put your commission in. DO NOT give the builder the name and number.

[Steve Didier]

Exactly what Eric said and I would also tell him they are currently under Buyer Agency Agreement with you - that should back him off a touch. It's always a good idea to have them sign one anyway.

[Dave Skitz]

I am also concerned because the couple got the builder's name and number when he told them to call him if they had any more questions and I was unable to get a buyer's agreement signed with them. However, I am supposed to follow up with the couple tonight. What's the best strategy to get them to sign with me?

[BuyHawkeye]

Tell them that they are facing a shark without protection from you. The price for new construction is fixed (or was...). They gain no savings by dealing directly with the builder. It is best to work with a professional who will guide them along every step of the process to ensure a successful sale.

[ericbadgley]

Yey let them know you are a trained negotiator and want to save them money.

[Sam Dodd]

Or don't sit open houses for ass hole builders who try to steal your clients out from under you.

[Dave Skitz]

Well said folks...thanks...live and learn!

Now, if this buyer comes thru, signs with me, makes an offer and the deal closes on the house that was NOT listed, my broker wants me and LA from the open house I sat next door that is listed to split the $5000. How fair is this?

[Mack Perry]

Sounds like you may need a new broker. When you agree to sit an open house for a listing agent that doesn't sit it him or herself you should get any and all clients from it for you. That is of course unless you had an agreement to the contrary.

[Discover Davis Homes]

I agree that you may need to look for another company to work for.

I would also be wary of working with people who split the comission 4% to the listing side and 2% to the buyers side.

Did you have an agreement to share your commission with the listing agent if you found a buyer at the open house for his listing? If not, why should he get some of your commission if these people make an offer on the builder's house.