Listing New Construction.....An Exercise In Time Management-Follow Up and Total Organization

Listing new construction is management intense in our area.  Representing small builders, who do not use "on site construction supervisors" but do the job themselves, requires an agent who is prepared to be the go-between for the builder and the buyer.  The work starts at the early stage of reserving the lot and then determining the home to be built on that lot.

Once the purchase and sales agreement is signed and the mortgage contingency is satisfied, the building process begins and so too does the work of the listing agent.  It's the responsibility of the listing agent to make sure every change has a signed work authorization with a price; all selections are made in a timely fashion and with a signed work authorization with prices for overages; inspections by the buyer are accompanied and each phase is signed off by the buyer; all communication between the buyer and the builder should be via email to the listing agent so that there is a paper trail and no miscommunication; the final walk through prior to closing must be accompanied by the listing agent and a punch list submitted to the builder prior to closing.

These are some of the major tasks handled by the listing agent of a new home.  There are many other duties satisfied by the listing agent such as double checking the numbers for the overages purchased by the buyer and the credits to the buyer.  I always did an excel spread sheet for those overages and credits and had them approved and signed off by the buyer the day before the walk through.  The buyer would also pay for those upgrades before closing.  This allowed the closing to be focused on nothing other than the bank documents.

The role of a listing agent representing a builder is management intense and requires total organization and timely follow up.  Time is of the essence with new construction.  Time is money and with each day, the builder is paying interest on a construction loan.  The transaction needs to run smoothly.

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