A question to ask yourself, “If you enter into a transaction without an agent or representation, who is looking out for your best interests?” The fact that the builder’s sales agent represents the builder and works for the builder, may leave you vulnerable. “So who’s in your corner, to look out for your best interests?” The answer is simple, “no one.”
A common buyer misconception is “If I don’t have an agent, I will get a better deal.” Typically, this is not true. The listing agreement is between the builder (seller) and the listing broker, and whether there is one agent or two involved in the transaction, the real estate fee paid out is the same amount. Often the builder has already included the buyer’s REALTOR® commission into the price.
The contract is written by the builder and for the builder, and it varies greatly from a standard real estate purchase agreement. Your professional REALTOR® will not only help you understand the contract, they can advise you on how specific clauses and options may affect your purchase, before signing on the dotted line.
As an industry professional, your REALTOR® has substantial knowledge and expertise in real estate, and understands the new construction market. They guide you through the process, and help manage your expectations. From mortgage application to closing on your new home, an experienced agent will help oversee the behind the scenes steps that will insure a successful transaction.
In the event an issue arises during or after your build process, your REALTOR® can be a buffer between you and the builder or sales agent. Your agent can make sure that you are getting what was agreed to, and as your go-to professional, they help get things resolved and are your real estate resource throughout the transaction.
In today’s market, most builders fully expect buyers to be represented and have easy ways for your agent to register you. If you proceed to a model, be sure to inform the sale center agent that you have a REALTOR®, or you may not receive the representation you deserve.
Heather and Randy BacchusLicensed in: MN (Agent), WI (Agent)REALTOR®
Randy BacchusLicensed in: MN (Agent)REALTOR®, GRI, New Homes Sales Specialist