Thinking that buying a new construction home without an agent can save you a few bucks? Think again.
Hi, I’m Raymond Eaddy from HomeSmart.
You may wonder if the builder’s real estate agent has your best interests in mind? The seller’s agent can be an excellent resource in the new construction process, but don’t forget they’re representing the builder in the sale. A seller’s agent doesn’t want the buyer to have an unpleasant experience, but their fiduciary duty lies with the builder. Because of the structure of commission, the seller’s agent is legally obligated to serve their client’s best interests. We’ve walked many home buyers through purchasing a new construction property, avoiding potential pitfalls and stressors, while advocating for their best interest each step of the way.
Having a buyer’s agent to help you through your new construction purchase has many benefits. It’s customary for the builder to pay the buyer agent’s fee, so for starters, it’s FREE to you. Not every builder has the same level of experience. Nor do they deliver the same quality of home. An experienced buyer’s agent will have knowledge about the various builders’ track records. They will have a good eye for the quality of the construction for each development. Your real estate agent can negotiate on your behalf.
With new construction homes, there are often opportunities to negotiate the purchase price, upgrades to the home and credits towards closing costs. Don’t leave money on the table or miss opportunities for upgrades and customizations because you don’t have someone solely advocating for you. The builder’s attorney typically creates the purchase documents for new construction. They write these documents in favor of protecting the builder’s best interests.
Understanding the various clauses in the documents is essential. Your real estate agent can help you through this process. They will comb over the contract and bring up any issues or concerns. Additionally, they can help you address any items of contention with the builder and seller’s agent. Barring a natural disaster or other unforeseen circumstances, a builder should complete your home in a reasonable amount of time. With that said, it is not uncommon for builders to have delays and for buyers to be left in limbo frustrated waiting for their home to be completed.
Your agent can be the squeaky wheel pushing for your home to get prioritized, thus minimizing delays. When it comes to buying new construction, there are lots of benefits that come with working with an experienced real estate agent, and I am here to help you. Again, this is Raymond Eaddy from HomeSmart and Your Property is Our Priority.