Why a Buyer's Agent is a MUST when looking and buying NEW CONSTRUCTION
Building a new home is exciting and will likely be one of most expensive transactions you will make in your lifetime. By asking a Buyer's Agent to accompany you to the sales office, you attain a skilled ally whose legal and fiduciary interests are you.
When walking into a builder’s sales office, many buyers “think” they will be represented properly. Even though there are some very good new home sales builder representatives, they do work for and are paid by the builder.
As a new home buyer, it is crucial you have a buyer’s agent with you from the beginning of the process to closing.
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Why a Buyer's Agent is a MUST when looking and buying NEW CONSTUCTION home
- A Realtor's expertise is free to you - The builder pays the buyer's agent a commission for representing the buyers. Many buyers mistakenly believe they will get a better deal if they do not use a buyer's agent. The buyers assume that since a builder has to pay the agent a commission, they would be willing to pass those savings on to the buyer if they do not use an agent. This is not true. In fact, builders charge the same price for a house regardless of whether or not you use an agent.
2. Have a realtor on your side through negotiations. Realtors look out for your best interests, as the purchase is negotiated. The model home salesperson is working for the builder, not you - the salesperson represents the builder. Their main goal is to sell you a home at a price that maximizes profit for the builder. A buyer's agent works for YOU. This means they are obligated to help you find the best home at the best price.
3. There's so much more involved than just picking out the lot, the floor plan and neighborhood. Although there are buyers out there who have gone into a model home site and started the process directly with the builder's salesperson, things are only good as they seem to be at that particular moment... But please be aware that when problems and technicalities arise, you want to make sure that you have a knowledgeable buyer's agent on your side and is able to deal with the unexpected things that can go wrong while building your beautiful new home.
4. Builder's mortgage rates and incentives may or may not be your best option for financing. You need to make sure you have the best loan for your needs. Many builders will offer you incentives for using their lender. Will their lender be the best loan for you or should you call another lender to see if there is a better option for you? In case there will be a construction delay what will happen to the interest? It is always good to shop around and ask your realtor for some recommandations.
5. Don't overpay for your new home. A buyer's agent can provide valuable information so that you know what comparative properties are selling for in new home communities. This way you do not overpay for a property. Are all the options you are adding to the house will cause your new home to be the "most expensive home on the block?"
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Michelle Grunberg
Keller Williams Realty Centre
info@michellegrunberg.com (Email)
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410-312-0000 (Office)
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