Buying A Newly Built Home?
Here’s Why A Real Estate Professional Should Represent You
By Wendy Volk
It might not seem necessary to involve a real estate professional in a transaction where a buyer can deal directly with a builder. Think again! A buyer’s agent, a real estate professional representing the buyer’s interests, can guide you along the right path, smooth the rough places and help ensure you make a decision you can live with (and in) for many years. Here’s how:
Ø Just as a real estate professional calls on experience and knowledge of an area to help buyers locate pre-owned homes in a community, he or she can also direct buyers interested in newly built homes to developments and communities that match client specifications.
Ø An agent can suggest builders based on their reputation for delivering a high-quality product, responding quickly to issues, and being financially sound.
Ø An agent may be familiar with how a builder prices his products and where there may be room to negotiate price or upgrades.
Ø Without agent representation, you are one buyer purchasing only one home. But an agent can significantly impact a builder’s bottom line by providing a steady supply of customers. The agent’s leverage may work in your favor at the negotiating table. [Note: The builder may require your agent to accompany you on your first visit to the site. Check with the builder.]
Ø The lender approval process may go smoother if an agent schedules visits, accompanies you to lenders, and helps expedite required documents.
Ø When relocating to a new area, agents can be particularly valuable resources. In addition to providing local area information regarding schools, day care or elder care services, public transportation, proposed development, and so on, once construction is under way, an agent can periodically stop by the work site, supply you with progress reports, and photograph or videotape phases of the construction.
Ø An agent can assist you as you face hundreds of design choices and consider which upgrades could potentially add value to the home when it comes time to sell.
Ø An agent can accompany you at the site while you okay the plumbing and electrical locations prior to dry walling, as well as on the walk-through or builder orientation.
By now, you should be convinced of a real estate professional’s value as you search for and purchase a newly built home. Still, here’s one more great reason to work with an agent—most often the builder pays the agent’s commission. You enjoy individual attention and support at no cost to you. What a great way to start life in a new home!