Should You Use A Realtor When Buying New Construction?
A lot of our clients ask about buying a newly constructed home. They often weight the pros and cons of buying new vs. buying old, and we’re happy to be able to steer them along that road.
But many ask, if I buy new construction, am I still able to work with a realtor?
They answer is, yes. In fact, you should be working with a realtor that does not have relationships or ties to the builder. This will allow the realtor to have your best interest in mind, and protect that interest.
Model homes are typically staffed by a real estate agent, employed by the builder and tasked with a specific goal. These reps represent the builder, as they are contractually obligated to do so. It’s important to have an agent to represent you that can advise you on how to structure your offer and in making choices that can affect your home’s resale value.
If you’re thinking of touring a new construction, don’t walk into the sales office without your agent. Some developments have site registration policies that require your agent to accompany you on your first site visit. If you walk in without them, you won’t be able to have the support of your agent during the transaction.
Your real estate agent is going be trained in negotiations, and can help with negotiations for possible upgrades or credits towards:
– flooring, stone materials and finishes
– contract terms
– warranty packages
– closing costs from the in-house lender
Buying new construction is a complex process with many moving parts. An experienced agent will also have the know-how to keep the transaction and construction on track. Depending on factors such as size, weather and the builder itself, your agent is going to be there along the way to let you know what to expect and how to navigate the process.
Talk with your real estate agent before visiting a new construction site and make sure you get the representation you need for the process.