It’s curious how easily myths manage to take their place among our everyday beliefs. Especially when it comes to matters relating to money $$$. I can assure you that I’ve heard my fair share of wild imaginings in the Real Estate business, but some assumptions seem to gain traction and hold on for dear life. Especially when it pertains to buying a newly constructed home.
When purchasing new construction from a home builder, there are a few 'myth-based questions' I frequently hear from my home buyers. The most common is, “Do I really need my own Real Estate Agent when buying new construction?”
WELL OF COURSE YOU DO! Those who believe otherwise may have been mislead by a few wily folk tales floating about. I’d like to dispel a few of those for you here.
Why do YOU need an exclusive Real Estate Agent when purchasing New Construction?
MYTH: “Buyers who use the Builder’s on-site agent will pay a lower price because the builder doesn’t have to pay a ‘Buyers Agent’. In other words, the agents fee will be deducted from the purchase price.”
FACT: The fee for the Buyer’s Agent is paid from the builder’s general marketing fund, NOT from the price of the home! The home price you pay is already established by the Builder’s price sheet, but your exclusive Buyer’s Agent will work to get you even better terms.
MYTH: “A Buyer purchasing a new construction home doesn’t need a professional home inspection because they get a 1-year builder warranty.”
FACT: You absolutely DO need an independent home inspector to inspect your new home! Every home - new or otherwise - has defects. Sometimes those defects don’t become evident until well after the warranty is up. Then what? YOU assume the expense of making costly repairs. The builder’s rep generally won’t encourage you to have this inspection, so this is another great reason why you need your own exclusive representation. Your Buyer’s Agent is your advocate!
MYTH: “Home builders prefer not to work with Buyer’s Agents.”
FACT: They LOVE working with a Buyers Agent because it means far less work for them! They get paid the same amount either way. Why would they want to assume more work?
Real Estate lore is just about everywhere! But here’s one FACT you can put your money on - a dedicated Buyer’s Agent will ultimately save you money - often thousands of dollars on the cost of a new home. We act as your advocate, representing your interests and yours alone. Most sales people working for new home builder’s are terrific people, and it’s easy to feel that they are there to represent you, but they’re not. They represent the builder’s interests.
If you have questions about purchasing new construction, give me a ring! I’d love to help you through the buying process and answer any questions you may have. If you're interested in searching homes for sale in Charlotte, you can search for homes here!
Jennifer Monroe, Realtor®/Broker
Smart ❉ Savvy ❉ Dedicated
Refreshingly Honest Real Estate with a Little Fun Kicked in!
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© Jennifer Monroe, Realtor®/Broker 2014