I have blogged before about new home builders and the incentives they pay to agents to help sell their new homes. It seems that this is having a significant effect in the Columbia market. I think that going forward home sellers will need to consider additional incentives to sell their homes in order to keep pace with new home builders. Specifically this will mean larger commissions paid to buyer agents and more creative marketing by listing agents.
Existing homes have many advantages; including but not limited to established communities, established comparables, knowledge of soundness of construction and overall presentation of the community.
Bottom line is home sellers and their real estate agents need to be ready to compete with builders. Carefully research your options before you list your home.