Seattle Condo Tour

This month, Fisher Broadcasting has organized a Condo tour for homebuyers to check out a list of participating new construction and conversion projects in several neighborhoods. If you have just started the search process, this may be a good chance to make use of their map to get around to check out the condos. (You may also find my SCR Map useful.)  Fisher Broadcasting is providing a complimentary shuttle service to cart you around from sales center to sales center.

One thing to keep in mind is that if you plan on using a Realtor to represent you if/when you buy, be mindful when you register at the sales centers. Just fill in your Realtor's name when they ask if you are working with a Realtor, otherwise you risk needing to pay more out of pocket or getting limited service should you retain the services of a Realtor later.   

When: September 22nd & September 23rd (Saturday & Sunday)

Where :Shuttle service starts at Fisher Plaza (11.00am)

List of condos : visit www.SeattleCondoTour.com

Related posts:

Do you really need a buyer's agent?
Pre-construction purchase
Picking and working with a Realtor

-About Wendy

Comments

[Seth]

Wendy,

Please elaborate on the why we would pay more out of pocket if we get a agent later?

Seth

[Gwen]

If you register at the sales center and you indicate you're not working with an agent, you are effectively agreeing to use the on-site agent (who works for that specific building) to represent your interests. There's nothing wrong with this and lots of people have good experiences doing this. Some people decide later that they want an independent agent to represent them (e.g., perhaps they want to consider multiple projects or they prefer the expertise / personality of that specific independent agent). In this case, since you've already registered as an unrepresented buyer, the developer will not likely be willing to pay your new agent the standard commission -- he would argue you opted to use the on-site agent at the beginning and that he got your business without any help from your new agent. Sometimes the reduced commmission is 75% less than what the new agent would have earned had you registered them. At this point, 2 things can happen: (1) Your agent agrees to work for you for that reduced commission paid by the seller and you don't pay any of pocket; (2) your agent agrees to work for you for the standard commission which you need to make up for out of pocket at closing. The problem with (1) is you may end up getting service commensurate with the compensation. The problem with (2) is you could have gotten full service since the standard commission is already baked in to the sales price (which is the same sales price regardless of whether you waive independent representation or register your agent).

[Wendy]

Yes, Gwen is right. In number (1) case, you are most likely going to receive limited service.

[Boston Condo Guy]

Wendy, to what extent were you involved in setting up the condo tour? Is this something that has happened for consecutive years now, and how has the attendance been?

[Wendy]

I'm not involve in the condo tour. This event is organized by Fisher Broadcasting and it is the first condo tour in Seattle.

[Bob]

The whole idea of a condo tour seems ridiculous to me. Why can't buyers just read blogs like this and visit the sales centers on their own? Perhaps if they were offering some exclusive hard hat tours or chats with the architects, the tour might be worth it. Otherwise, it seems like an absurd concept to me.