Particularly with new construction I am often asked, “Why use a realtor when I am buying a new build?” Because many builders have on-site model homes and reps, walking in and touring their homes without your own agent seems quick, easy, and hassle-free. However, there are a few facts that buyers shopping for new construction need to be aware of:
- A realtor representing a builder in the home purchasing process is just that – a realtor representing a builder. This, of course, does not mean that they will be unkind or less than thorough in their interaction with you, the buyer. It does, however, mean that if they do their job well, they will be working in the builder’s best interest, not the buyer.
- Utilizing a realtor as a buyer does not cost the buyer anything. There is a misconception that builders lower the selling price for buyers who do not have their own agent representing them. Jeff Gould of FishHawk Real Estate says, “Builders do not want to reduce their prices because it sets the comparison price for future home sales in that neighborhood. Builders instead add the commissions paid to a buyer’s agent into the marketing budgets of the homes. If a buyer goes to a new-home builder without a real estate agent, either the builder’s agent or the builder will pocket that money.”
- It is vital that you take your realtor with you from the beginning of your interaction with a builder. If you have placed a deposit on new construction, it is too late to employ your own agent to advocate for you.
- Builders are often not clear about what amenities are included in base pricing. A good buyer’s agent will know the questions to ask ahead of time to make sure the buyer is not blindsided by a lot of extra upcharges when it comes time to choose flooring, kitchen appliances, countertops, etc.
Navigating these potential potholes, along with the added benefit of just having another advocate on your team as you walk through the buying process is invaluable. I am well equipped to help you get from start to finish successfully in this market and would love to have the opportunity to journey with you as you make your house a home.