Buying a New Build Home
10 Reasons to Use a Realtor When Buying a New Home
Buying a New Build Home
Consider Representation if Buying a New Build Home. The New Home Sales representatives at model homes may look and sound like someone who is there to help you. However, a new home sales rep works for the builder and represents the builder’s interests. Realtors® are licensed professionals following a Code of Ethics and represent their buyer/client interests. New home sales representatives are not be constrained by those same requirements.
Buyer Agent Cost: Most likely the new home builder will cover the cost of the buyer’s agent as part of their marketing expense. Especially if the home is listed in the local multiple listing service. The builder will do this because they understand the Realtor® has the expertise, has qualified buyers and will act as a go-between between the two parties. In effect, new home builders love Realtors® because they bring value to the process.
Buying Process: A Realtor® can help a buyer through buying, building, mortgage and warranty processes. This can be very confusing for someone experiencing new home construction for the first time.
Negotiation: Yes, a new home buyer can negotiate, but can they do it effectively. Realtors make it look so easy because they are trained to ask the right questions that new home buyers may not know to ask. Incentives and upgrades may be available that the Realtor® may know.
Contracts: Realtors understand contracts. Realtors® know what to look for in a contract. But are not and not able to legal advice. A Realtor® will involve a licensed attorney to provide legal advice in situations where the client does not understand the terms and conditions of a contract. They do not give legal advice.
Selecting the Right Builder: Realtors® can help buyers differentiate between builders. For example, the price range a builder builds, the style of home, what materials a builder uses, whether the builder is known for good or bad quality, and how a builder is rated for quality ie, reviews.
Selecting the Right Community, Floorplan and Lot: Realtors® help buyers select the right floor plan, community, and lot based on a buyer’s needs. There are some floor plans and communities that may be hard to resell and some lots the buyer must be directed away from because of poor orientation or perhaps future building impacting value negatively.
Selecting Options: A Realtor® can help to choose options that increase the value of the home. But don’t let a Realtor® replace your tastes and preferences.
A Go-Between: Realtors® can act as a “Go-Between” between the buyer and the builder if problems arise during construction. Or, if the buyer feels uncomfortable approaching a builder about issues.
Inspections: Realtors® understand the importance of scheduling inspections during and after construction is complete. The new home will be inspected by a city or county inspector, but the new home buyer may opt for an independent home inspector. Talk to us at MB Realty. https://mbrealtymemphis.com/contact/
