30 April 2007

Do I need a Realtor To Buy New Construction?

I am often asked, do I need a REALTOR to buy New Construction?

Having spent the first ten years of my career selling homes for a builder, and the last three years representing buyers of new homes, I feel uniquely qualified to talk about a subject near and dear to my heart. New homes ie: New Construction.

When I was representing builders from a model home, I was often asked the question, “should I have my own Realtor?”

The question at the time was a tough one. It was my job to represent the builder, who might make more money if I said no. However, although I knew that my builder would treat every customer fairly and honestly whether they had an agent or not, the answer was (and still is) yes, you do need a REALTOR to buy new construction.

 The fact is every buyer is entitled to representation by someone whose only job is to represent them throughout the transaction, whether it’s an existing home or new construction. Many buyers think (mistakenly) that the agent that sold them the home from the model is “their” agent too. In nearly every case this isn’t so. That agent is there to represent the seller.

We’re working with a client right now that’s trying to sell a new home he recently purchased. He’s from out of state and hasn’t seen the home since before he closed. Well, it turns out he closed on a new home that wasn’t even completed yet! He feels that “his” agent should have advised him of this. In truth, he didn’t have an agent. He was relying on the builders agent.

Many of the pitfalls that come up during the purchase of an existing home come out during the new home buying process as well. Issues regarding financing, title, insurance and zoning must still be dealt with. That is where you need someone familiar with the process that is on your side.

Most builders will treat you fairly and honestly. Those are also the builders who will have no problem working with your Realtor.

You may only build one home in your life. Doesn’t it make sense to be represented by someone on your side that does it for a living? The answer to that question, do i need a REALTOR to buy new construction is YES!   

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