New Home Builder Broker Co-op Thread

usctrojancpa

Well-known member
Since we have some new homes open up in Eastwood and Portola Springs, I figured it would be beneficial to have a thread that had all of the broker co-op amounts for the new homes out there in the Irvine area.  So below is a short list of broker co-ops that I know from the top of my head...

Avila @ Eastwood - $20,000
Beverly @ Eastwood - $25,000
Morro @ Eastwood - $30,000
Peidmont @ Eastwood - $19,000
Avalon @ Eastwood - $10,000
Petaluma @ Eastwood - $14,000

Elderberry @ Portola Springs - $20,000
Juniper @ Portola Springs - $20,000
Indigo @ Portola Springs - $11,000
Silverleaf @ Portola Springs - $12,000

Trellis Court @ Cypress Village East - $14,000
Tristania @ Cypress Village East - $12,000
Lantana @ Cypress Village East - $10,000

Bella Vista & Alta Vista @ Orchard Hills - $50,000
Veranna @ Orchard Hills - $20,000
Padova @ Orchard Hills - $20,000
Palo Alto @ Stonegate - $30,000 (increased from $20,000 to move final lots)
Lennar homes @ Altair - 3% of purchase price

 
Forgot to include a few others...

Delano @ Eastwood - $12,000
Legado @ Portola Springs - $16,000

Rowe/Courts @ Baker Ranch - $10,000
The Landing/Crestline @ Baker Ranch - $15,000
Trails @ Baker Ranch - $25,000
 
Here are the broker co-op amounts for The Reserve @ Orchard Hills...

Vivo - $16,500
Como - $21,000
Terra - $24,000
 
Zion said:
thanks usctrojancpa. so how does this work? do the buyers get 50% of the rebates?

if i were a buyer i would ask for at least 90% back honestly.  not sure what a RE agent adds to the process of buying new construction.  in irvine for most (not all) there is no price negotiation and you can find your own lender or go with the builder's.  paperwork is standardized.  $40K to walk into aurora at altair ?  i'd ask for almost all of that back.

definitely bring some RE agent though because you will be getting $$ back that you wouldn't if you went by yourself.  find any agent, look for struggling ones, negotiate on your cash back.  have it in writing, make sure they don't give you a 1099 for your rebate.

 
dethman said:
Zion said:
thanks usctrojancpa. so how does this work? do the buyers get 50% of the rebates?

if i were a buyer i would ask for at least 90% back honestly.  not sure what a RE agent adds to the process of buying new construction.  in irvine for most (not all) there is no price negotiation and you can find your own lender or go with the builder's.  paperwork is standardized.  $40K to walk into aurora at altair ?  i'd ask for almost all of that back.

definitely bring some RE agent though because you will be getting $$ back that you wouldn't if you went by yourself.  find any agent, look for struggling ones, negotiate on your cash back.  have it in writing, make sure they don't give you a 1099 for your rebate.

Unfortunately most all agents have to pay a commission split and/or broker transaction fee to their broker (I fall into the latter category) so a 90% rebate won't happen.  Also, some agents provide more value than others but yeah most are fairly worthless.
 
Zion said:
thanks usctrojancpa. so how does this work? do the buyers get 50% of the rebates?

It's up to your agent and your agent may be able to negotiate more if he/she ends up working with you on both side of the transaction.
 
I think USC earns his half of the co-op.  When I bought my new home I had questions more than once and he was always quick to give detailed replies and explain thoroughly.  I had some questions about title insurance, upgrades, etc and he gave good advice and input on both.  Not just a 2 line email response but a thoughtful detailed reply and he always let me know I could call him or setup a meeting if I needed to.  Never made it feel like I was bothering him or he didn't have time for me, and remember he's only making around $7k-ish on the co-op before his broker split. 

I'd much rather give him the half he earned than take a few extra K and have to deal with the frustration that comes with most other agents.
 
USC is awesome, he's been great to work with, answers emails and texts at all hours.  I wouldn't recommend anyone else if you're looking to buy or sell in the area.  He knows his stuff.

aquabliss said:
I think USC earns his half of the co-op.  When I bought my new home I had questions more than once and he was always quick to give detailed replies and explain thoroughly.  I had some questions about title insurance, upgrades, etc and he gave good advice and input on both.  Not just a 2 line email response but a thoughtful detailed reply and he always let me know I could call him or setup a meeting if I needed to.  Never made it feel like I was bothering him or he didn't have time for me, and remember he's only making around $7k-ish on the co-op before his broker split. 

I'd much rather give him the half he earned than take a few extra K and have to deal with the frustration that comes with most other agents.
 
Thanks for the kind words guys, just appreciated.  As you mentioned, I'm not an agent that just signs up buyers at new home sales offices and then just disappears until it's time to cut the check for the rebate.  I pride myself on being a full-service agent who provides value to my clients...whether it's providing option advice, referrals, tax input/advice.  It's really simple, I represent my clients the way that I would want to be represented where my clients come first where I need to be as available as I can for my clients like a doctor on call.  ;)
 
+1 on USC.  He really is like a concierge doctor.  There's never been a time when I needed to reach him and couldn't. 
 
Some additional broker co-op amounts....

Castillo @ Travata - $15,000
Palencia @ Travata - $15,000
Brisa @ Portola Springs 4 - $11,000
Celeste @ Portola Springs 4 - $12,000
Talise @ Portola Springs 4 - $14,000
 
Do you guys know if broker has to physically walk in with you to sign?  Like if you are trying to buy a home in Bay Area new development, can you use broker from So Cal?
 
shadyoc said:
Do you guys know if broker has to physically walk in with you to sign?  Like if you are trying to buy a home in Bay Area new development, can you use broker from So Cal?

They have to physically be there, fly your broker up for the day.
 
shadyoc said:
Do you guys know if broker has to physically walk in with you to sign?  Like if you are trying to buy a home in Bay Area new development, can you use broker from So Cal?

Pretty sure your broker would love to fly up on a $100 flight to get a $10k+ commission. I'll even do it just let me know the date and time!
 
Cares said:
shadyoc said:
Do you guys know if broker has to physically walk in with you to sign?  Like if you are trying to buy a home in Bay Area new development, can you use broker from So Cal?

So let?s say an agent will go high as 70% kick back.  So on a $20k co op, they give back $14k.  That leaves $6k to the agent.  Don?t know how much of the $6k is left after broker fees.  But just to sign in isn?t too bad since the builder agent does a bulk of the paper work.
 
shadyoc said:
Cares said:
shadyoc said:
Do you guys know if broker has to physically walk in with you to sign?  Like if you are trying to buy a home in Bay Area new development, can you use broker from So Cal?

So let?s say an agent will go high as 70% kick back.  So on a $20k co op, they give back $14k.  That leaves $6k to the agent.  Don?t know how much of the $6k is left after broker fees.  But just to sign in isn?t too bad since the builder agent does a bulk of the paper work.


$6k - $100 (plane ticket) = MAXROI made in a day.
Anyone's day rate greater than $5900? It could even be a half day.  ;D
 
shadyoc said:
Not if the broker takes a bulk of the $6k.  But even half would leave the agent with $3k

If you're serious, pay for the cost of my flight and I'll meet you. Give you 70% split plus flight cost back after closing.
 
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