Should I use a REALTOR® to purchase a new home from a builder?
Recently I spoke to a woman who bought her home directly from a builder. She felt that she did not need a REALTOR® to buy the new home. I said that many people have successful transactions buying directly from the builder. I did say to her that I believe that there are benefits when using a REALTOR® when purchasing a new home from the builder.
The builder knows that they will sell so many homes with and without an agent. The builder has budgeted that into their bottom line.
One benefit of using a REALTOR® when purchasing a new home is that the agent can assist you when choosing the lot. Sometimes the builder has one particular lot that is more difficult to sell than another? Maybe they might offer you a discount for that lot? If the builder is having a hard time selling that particular lot, maybe you will too?
The REALTOR® can help choose amenities that will make your home more salable in the future, ie more money for you.
The REALTOR® can help negotiate and make sure you are getting fair rates and closing fees, many builders have their own lenders that you are "encouraged" to use.
I sold a new home last summer. The home would not be ready for about 7 months. My seller, against my advice, wrote his contract non contingent on the sale of his home. As we know the market is slower and prices are not where they were in the past. The looming settlement date of the new home was coming and my client was stressing.
I contacted the builder and negotiated an extra $40,000 in closing fees for my client AFTER they had already ratified their contract months ago. My client told me that he would have never thought to negotiate the terms I did and the ending may not have been so smooth.
Both homes have sold and everyone is happy. My client always tells me how happy he is with me and my services are invaluable. He has told me that he knows using me saved him money.
It doesn't cost you money to take your REALTOR® with you to purchase a new home, but I could cost you money in the long run to not use a REALTOR®
For more information contact Audrey at Audreyjune.com
Photo flickr.com
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Good points Audrey.
I worked for a builder for many years and the majority of our buyers/offers came to us via a buyer's agent. These agents were able to provide them (the buyers) representation when negotiating with us, run interference for the them during the construction process and also assist them with them with the financing process, as well as providing us (the builder/seller) with an educated professional to work with from contract to closing. It was a win-win for all!