By Marcie Geffner - New Home Source
No one wants to work without pay and Realtors, understandably, are no exception.
That’s why it’s important for Realtors who want to profit from new homes sales to be familiar with the timelines involved in new home construction. These timelines determine not only when the buyer will close the purchase, but also when the Realtor’s commission will be paid.
Timelines vary from builder to builder and community to community and can also depend on such other factors as the buyer’s financing and choices of amenities, fixtures and finishes.
Frankly, the wait to get paid can be long. But it doesn’t have to be and it isn’t necessarily longer than the timeframe to sell a used home. That’s especially true in communities where the supply of homes for sale is constrained and buyers can take many months to locate a property they like, says Brent Anderson, a spokesperson for Meritage Homes, which builds new homes in Arizona, California, Colorado, Florida, North Carolina, South Carolina, Tennessee and Texas.