If you are considering buying new construction, you need to be represented by a Realtor. Consider this, you see a neighborhood you like and walk into the sales office. That agent in the sales office is representing the builder. While that agent may be helpful, that agent is not making the buying process better for you. That agent is making it better for the builder. Being represented by a Realtor costs you nothing. If you chose to go it alone, the builder’s agent keeps all of the commission. You will not see any savings. As a matter of fact, you might be paying more. For example, a builder might put special incentives under the Agent Remarks section on the MLS. If you do not use a Realtor, you will not see this and the builder’s agent is not obligated to tell you.
We have all heard stories of people trying to represent themselves in court. Most of the time, the results are more favorable is you have representation. The big difference is using a buyer’s agent costs you nothing.
Why would a consumer need an agent to represent them when building new construction?
-An agent can give you objective professional advice and insight during all phases of the process, such as contract, construction, walk-through, and closing.
- An agent is your exclusive advocate and will help you understand your contract and obligations including when to schedule construction inspections.
- While the sale representative will always give the appearance that sales prices are non-negotiable, an experienced agent can use recent and historical sales data to aid in the negotiation. Data that is not always readily available during new construction.
- An agent has knowledge of and can leverage contracts, real estate law and the real estate community when things go awry with the builder.
- A buyer’s agent costs you nothing. When a buyer does not use a buyer’s agent, the builder either pays their sales representative a higher commission or pockets the savings. PLUS, the builder is NOT going to give you a reduction in price if you DON’T use a Realtor, so you’re just paying them even more to NOT work for you… why would you want to do that?
Call me, Jennifer Smith at Today Homes Realty, at 757-694-4050. I can work with you on your new construction purchase.
Sources: Zillow & Trulia