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Do I need a REALTOR® when buying new construction?
Dated: October 19 2020
When you're looking for a home, the appeal of new construction is undeniable. After all, you are the first person to live there. The home is pristine, untouched by someone else's hands or muddy shoes. The home has brand new everything -- a new refrigerator, washer, dryer, and dishwasher. It has all of the finishes and treatments that you picked out to fit your aesthetic. And, since it is brand new, you won't have to worry about making any updates for years to come.
If you decide to pursue the route of buying new construction, the builder's agent will be prepared to help you through the process. But, do not be misguided. It is very beneficial to have a trusted REALTOR® on your side. It might seem like the process through the builder's agent will be relatively easy, however, you will want an experienced real estate professional representing your side of the deal. This way, you are guaranteed to have someone fighting for your best interests.
A few terms
Builder's agent. The builder of new construction is considered to be the seller, and the agent representing the builder is the builder's agent.
Real estate agent. A licensed, local professional who negotiates and arranges the buying and selling of real estate transactions.
Why should I have a real estate pro on my side?
1. Help you find a trusted builder.
Real estate agents rely heavily on their experience and colleagues in many areas of real estate. Agents have an arsenal of other local professionals in other industries, including builders. Your agent will make sure you are buying a house from a reputable builder. This can prevent a lot of headache down the road.
2. Help with the legal stuff.
No matter how many real estate contracts you have dealt with before, it is important to have someone help you review the contract, especially with new construction -- where contracts can be very different. A good agent will be able to insert relevant additions to the contract to help protect you should something fall through.
3. Help you negotiate monetarily.
Since real estate agents are knowledgeable about different areas and average price points, a good agent will be able to make sure you get the best deal on your purchase.
4. Help you negotiate extras.
Would you like to have upgrades counters, appliances, or even a different paint color? Your agent could help you negotiate that!
5. Help recommend financing options.
The builder likely will have a preferred lender that they will recommend. However, your real estate agent will know a wide variety of lenders. Therefore, he or she can help you choose one that will get you the mortgage that works best for your situation.
6. Help oversee an inspection.
Often times, a builder's agent will not offer to have an inspection done, so it is up to you and your real estate agent to make it happen.
While a builder's agent can be a valuable resource to help you learn about your potential new home, its various amenities, and neighborhood, you should never make it your only point of contact when you are buying or selling.
By having a real estate agent on your side, you can have peace of mind that the purchase of your home will go smoothly. Give one of our experienced agents a call -- 615.815.1295
Meet Holden. Holden is a licensed REALTOR® and serves as the Director of Marketing at Music City Experts. He’s the face behind social media, blog articles, website content, and graphic design for t....