YES, YES, YES!!
Would you buy an existing home without a Realtor representing you? Buyers assume the builder’s sales rep will help them every step of the way in purchasing their new home and they will…..however, that rep is working for the builder. They are the builder’s employee — the builder’s “agent” and they will always have the best interest of the builder in mind. Their job is to get the highest price for the homes they are selling you.
Where does this leave the buyer? Alone, with no representation! You need someone to represent you. A real estate agent’s job is to get you the most value for your money with the least amount of aggravation and stress.
Here’s how your own real estate agent can help you when buying new construction:
- Negotiating Extras Whether it be upgraded counter tops or fixtures, your agent can help you negotiate the costs of upgrades and extra amenities.
- Financing Most builders have their own preferred lenders they will try and steer you towards, but your real estate agent can make sure you are getting the type of mortgage that works best for you.
- Home Inspection (a must!) Municipal building inspections are not the same as home inspections. Building inspectors are not looking at the quality of the work — only checking for code violations, which is not the same. By getting your own home inspection, you can get the problems fixed before you close in move it.
A common belief is that the buyer will have to pay the realtor or that they won’t get as good a deal on the purchase price if they use one. WRONG! A Realtor costs a buyer nothing. They are in essence free to the buyer and the commission the realtor receives from the builder is already built into the purchase price. If the buyer doesn’t have a realtor, the “commission” goes right back into the pocket of the builder.
Remember, a realtor has a fiduciary duty (the highest responsibility) to get you the best deal, the most favorable terms, and look out for your best interests. If you do not have a realtor, you are going in blind and are at a severe disadvantage in negotiating with the builder’s representative.
When you begin your search for newly constructed homes, bring your real estate agent with you, if possible. If not, make sure you tell the home builder that you are working with an agent. You’ll be glad you did!