If you’re already working with a realtor and decide to buy a new construction home, your agent can still represent you in the home buying process. In fact, if you’re not working with a realtor and looking at new construction homes, consider finding someone to represent you as a buyer’s agent. There are many benefits of a buyer’s agent to buy any home, but using a buyer’s agent for a new construction home has unique benefits of its own.
1. A buyer’s agent works for you, not the construction company building your new home. The agent that works in the office at the construction site works for the company and represents their interests.
2. Your realtor can negotiate the price of your new home. Real estate agents are expert negotiators. She will use market data to help her determine the right price and save you money on your new construction home (or any home).
3. Your buyer’s agent can negotiate additional items to be included with your new home that you haven’t even considered. He has attended many closings and helped other new home buyers navigate the purchase process. He knows to ask for things that your builder isn’t obligated to offer you.
4. Your agent has access to market information that you do not and the ability to determine whether individual new construction neighborhoods are trending up or down.
5. Your buyer’s agent has attended and participated in many closings. He or she can troubleshoot the process and represent you if and when things do not go as expected with the builder. Banks, builders, and mortgage companies all make mistakes. Your realtor can help you navigate the process and save you money when something goes wrong.
6. Your realtor has seen hundreds of home and can identify concerns that someone working for the builder would not. Your agent can also recommend a home inspector that is NOT affiliated with your builder.
Finally, a bonus… Number 7. A buyer’s agent costs you nothing. Actually, you’re already paying for it. The builder pays your buyer’s agent as part of their closing costs on the home and that price is already built into the list price of your new home. If you choose not to use a buyer’s agent, it’s extremely unlikely that you will receive the extra 3% as a price reduction on the cost of your new house. In some states, builders are not even allowed to reduce the commission on the price of your home if you don’t use an agent. Take advantage of a service that you’re already paying for and find a buyer’s agent that you trust to help you with your new home purchase.
If you’re considering new construction in the Charlotte area, we’d be honored to help you find the right house for your family.
Enjoy the Adventure!