For quite some time Indianapolis IN had the dubious honor of the city with the highest foreclosure rate in the country. Fortunately we are no longer at the top of the list but we are still up there. I drive through community after community of production built "big box homes" that are empty with a sad story to tell. I wonder how many of these buyers had an Agent representing them? So many "production" builders are the preditors when it comes to selling a dream by promising an affordable payment without truly disclosing the costs of taxes and insurance as well as that "creative financing" that made the deal look possible. Rather than keeping an eye on that commission is it not our duty as Agents to protect our clients? It is my intention to try and educate the Buyers of New Homes that their best interests are served by having an Agent assist them in not only selecting the right builder for their budgets and needs but also educate the unassuming Buyer of the hidden cost of home ownership so that their dream does not become a disaster.
This is also true of the higher end "Custom Home Buyer". While working with a Custom Builder a personal relationship is formed and hopefully a degree of trust. As with any transaction "Buyer beware". If Builders do not make a profit they do not stay in business. The Buyer is investing in the most detailed and complicated purchase that they may ever make and yet they are relying on a businessman that may or may not have their best interests as the #1 priority. Representation by an experienced Agent is the protection that Buyers need but Builders want to avoid.
There are great Production and Custom Builders out there, with intergery. I want to reach out to every potential Buyer of New Construction and let them know that I, as their Agent, am here to watch their back. Buyers, do not walk into a Model Home without consulting a Real Estate Agent, that knows the building community, first. Do your homework, it will be worth it.
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I hate those companies.
I used to work in a very low paying field, and I cringed when my co-worker told me they were having one of those homes built. With the size of their family and the limitations of their incomes, it will be a miracle if they are not foreclosed on. You drive through these communities and every 5th house or so is for sale. Yet more and more are being built. Yes, part of it is definately the sales pitch, but are these people are so starry eyed that they simply do not see the truth before them? How do you not look around and think hmmm... maybe there is a problem here?