Unusual markets make strange bedfellows. For many years, our question when we saw new homes being built was "Will they cooperate?" (In other words, will they pay a commission if one of us brought them the buyer?) In the past, the answer was usually "no". New home buyers were lined up at every model home, and it wasn't uncommon for developers to have a waiting list of purchasers before the first houses were built.
Now new home sales are at their lowest in 13 years, and the median price of a new house or townhouse has dropped to its lowest in more than three years. One of the agents in our office reported a call from a new Toll Brothers development, asking if he wanted to register his client who was at their model home. This sort of outreach is unprecedented in the industry, and shows how things have changed. Some developers are offering "laddered" commission schedules to Realtors who bring in buyers...an incentive for originating multiple sales.
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