Don't Buy a Franklin TN New Construction Home Without a Buyer's Agent

Real Estate Agent with HomeSmart Elite Group

Most people who buy new homes do not use a Buyers Agent, they do not realize that we can help them get the best deal and negotiate the sale. I did a 550k purchase for a client on a condo, list was 300K, client bought 3 and got price down to 290K, each with 3 extra storage spaces, and 2 extra parking spaces. The value of this transaction as the area fills up the parking spaces will be rented at 300-400 a month. 


Original content by Tammie White, Broker

Don't Buy a Franklin TN New Construction Home Without a Buyer's Agent

Don't Buy a Franklin TN New Construction Home without a Buyer's AgentSeveral years ago, I met a couple who were buying a Franklin TN new construction home. They had their existing home listed with an agent but they didn't use her to help them purchase the new construction home.

They were building a monster of a house in a neighborhood that had a variety of home sizes but nothing as big as the one they were building.

After adding all the bells and whistles, the sales price on this house came to a whopping $750,000. The median sales price for homes in this neighborhood at the time was $382,000. OUCH!! Of course, they didn't know this because they decided to make this purchase without the assistance of a real estate agent.

There were so many things wrong with this purchase. Not only was the price way above anything else in the neighborhood, the quality of the construction was not up to par for a house at this price. This builder's sweet spot was homes priced under $400,000. The quality at that price was adequate but at $750,000, this builder was way out of his realm. Unfortunately, they didn't know this because they didn't use a Buyer's Agent.

Don't buy a Franklin TN new construction home without a Buyer's Agent.

I recently heard this couple was selling their house. I didn't even approach them about listing it because I knew they would ask $750,000 or more. One of the reasons they were selling...poor quality. Hmm, I could have told them that when they bought it. Oh, that's right they never asked.

Sure enough, the house came on the market priced at $750,000; almost $200,000 more than any other house in the neighborhood. They have already dropped the price $25,000 but they are still a long way from getting this home sold.

I write on this subject often. Don't buy a Franklin TN new construction home without a Buyer's Agent. It costs the buyer nothing. The seller/builder has already priced the house with this in mind. The advice a Buyer's Agent provides is so important. Buyer's Agents do so much more than negotiate the price of a house for you. They have knowledge about other sales and  builders in the area who may provide exactly what you're looking for. It can keep a buyer from making this kind of mistake.

Had the buyers, now sellers, had the advice of a real estate agent, they could have possibly saved hundreds of thousands of dollars. Or at the very least, gotten a house that was of the quality of a house at this price point.

When you are ready to buy a Franklin TN new construction home, please remember this story. Don't make the mistake this couple made. Hire an agent with new construction home sales experience. It could save you thousands of dollars. 

As a Franklin TN new construction specialist, I would be happy to help you with your home purchase. Call Tammie White today at (615) 495-0752.

Tammie White, REALTOR®
TW Realty Group
Benchmark Realty LLC
318 Seaboard Lane
Franklin TN 37067
(615) 495-0752 Direct
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Benchmark Realty LLC. Any party who uses this material without the permission of Tammie White is subject to copyright infringement and possible lawsuit.
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Comments (1)

Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Jack, thanks so much for the re-blog. It's good to get the word out to new construction home buyers.

Apr 30, 2014 07:39 AM