I'm looking for anyone that may have bought a home built by CastleRock builders. I really like their floor plans and the look of their homes, but my realtor is very against their homes. He says they might as well be habitat for humanity homes. He said they don't put much insulation and they are not built with quality. To me I look at these homes and they look like they are built fine so I'm wondering if possibly he has other motives as to why he has such strong criticisms of CastleRock homes. Maybe they give realtors smaller commissions and maybe that is why he is steering me away from them. Anyway so I was wondering if there was anyone on here that might have bought a CastleRock home and how you feel about the build quality. Thanks in advance.
Usually a builder will have somebody who works with the builder that gets commission on getting you into a new home they build. A realtor would probably want to avoid this because they'd basically have to refer you directly to the builder and they wouldn't get paid for doing so.
That doesn't sound right to me. You're saying that realtors would avoid *all* new homes then, basically, which is obviously not true.
I only know one couple who purchased a CastleRock home, and they regret it. Their house failed inspections several times, it was months late, they were kept out of the loop for several weeks with unreturned calls and emails, and they got an overall sweatshop vibe/after-sales experience. You're just a contract rather than a customer, they said. I also know someone who worked in their legal department, and she told to avoid mass/tract builders entirely. Lot of settlements and threats of litigation over warranties, contracts, the pour/foundation, and so on. Yet, CastleRock isn't unique in this regard. If you can afford it, go the custom home builder route. However, realize to CastleRock's credit that they churn out homes very, very fast. This can be a good or bad thing. Ask yourself how much it's worth to you. For everyone who hated their experience, there may be dozens of satisfied customers. You think it's fine. You think your realtor is against you (the opposite of a fiduciary). There isn't an easy answer here. If it were me, I'd avoid them. Good luck!
Maybe they get a piece of the action, but for newly built homes, they have a "consultant" with the builder who works with the person buying the home on the floor plan and add ons, and they're paid a commission from the final sale of the home. A realtor may refer or broker the deal and get paid a percentage, but it would likely be less than their customary 3%, so they would understandably be hesitant to do this. Keep in mind that this is only for new homes. If the home is existing, a realtor may get in on the action. I work for a lender who has several joint ventures with builders, so I'm a bit familiar with how the process works for selling newly built homes.
Their consultant would be paid out of the seller's typical 3% commission. The buyer's agent would still get the 3% that is typical for that side of the transaction. The one caveat would be they would likely require you to have shown up originally with your agent who then officially registers you guys.
Ahhhh. Got it! All said, I'd listen to your realtor. There's a reason they're hesitant to work with the builder. These cookie cutter homes they build are typically lacking in quality, and, if you look at the market data on them, they typically decline in value by a large margin immediately. My advice for you would be to find an older home that needs work and renovate. There are actually loans out there that will allow you to buy a lot and build a home all in one loan.
Not true. Builders offer commissions to realtors. They have to be listed as your rep though. Some even encourage realtors to bring clients with bonuses for them in order to get them to move clients their way, rather than buying existing.. your realtor may have honest intentions in helping you. Or they don't trust the builder to pay up.. or they want to guide you to other builders with bonuses.
Your realtor doesnt have to be with you at that time. You can just put down your realtor's name and they will contact them. But it is always a good idea to have the realtor there, since you are paying the realtor 3%, he might as well try to get a good deal for you. When we bought a home we looked on our own. We wrote down the realtor name and the realtor was someone we knew who would give us 2% back and keep 1%, since technically all he did was do paperwork.
You should just buy the land and build the house with a contractor. Real estate agent only gets a cut of the land purchase this way. You get what you want this way, like an aquarium/trampoline room with mirrors on the ceiling.
In a typical neighborhood the developer usually sells the lots to 2-4 different builders. You can't just buy land and build what you want because they've already been sold. Unless of course you buy into a custom home neighborhood.
