DO I NEED A REALTOR IF I BUILD NEW CONSTRUCTION?
ROUND TABLE REALTY
904-469-7653 RoundTableRealty.com
Yes, you do! New Construction is plentiful in North Florida and you may be considering buying a newly built home or decide to have one built. New construction has a ton of advantages, but many buyers make the false assumption that they can save money by not using their own Realtor and advocate when purchasing a new home. This is false!
Why buyers don't think that they need their own representation with a Realtor... Many buyers assume that the builder's rep will help them with the purchase of their new home. They also assume that working with the internal representation will result in getting a better deal on their purchase. However, the builder's rep is working for the builder - not for you! Their success relies on getting the best deal for the builder, who is their employer. Legally, there can be no discounts based on any commissions paid so there is no savings. But when you use a Realtor, you are the employer.
What your Realtor can do for you Experience is not expensive. It's priceless. Your Realtor, who understands the ins and outs of home purchasing, can work on your behalf to negotiate a better deal, free upgrades or simply whatever is in your best interest. Most people wouldn't consider buying an existing home without a Realtor to represent them. Therefore, why consider going through the even more stressful and complicated process of building a home without someone on your side? In many cases, you are committing to something that doesn't even exist yet. It can be very daunting to go through the process of homebuilding, and dealing with the last minute changes and surprises. Buyers can avoid a lot of bad surprises with good representation of their own Realtor.
If you plan to use a Realtor to represent you... Be SURE to hand your Realtors card or info to the Builder's Rep and tell them that "this is my Realtor." It is even better to have your Realtor with you so that they can ask questions that you didn't even know to ask. If you plan to visit a model, give your agent a call and they can call ahead for you so that the Builder's Rep knows that you'll be coming and that you're not just a fish in a barrel.
To Do List Hire a Realtor - This is simply a must. Like we've pointed out, your Realtor is working for YOU. Home-builders may only give you incentive packages if you agree to their financing, or insurance, or title work. Your Realtor however can make sure that you're aware of the rates and that the providers are being competitive. Your Realtor knows the standards. By bringing in your own Realtor and Advocate, you're asking the builder to be on their "Best Behavior." The builder doesn't want to get a bad reputation, and will want the potential to create a good relationship with your Realtor, who will hopefully bring buyers their way in the future if the build goes well. Don't sign anything until every detail is worked out - Your builder may try to capitalize on your emotions when buying a new home. Once you've become attached to this new home, they may try to get you to write up a contract quickly so you don't lose it. But you absolutely must know what is in the contract, understand it and agree with it. No matter what the builder tells you... IF IT IS NOT IN WRITING IT WILL NOT HAPPEN. Research the builder - Your Realtor should be an expert on homes in your area. This will include builders and their reputations. You want a builder who will listen to our concerns. Ask a builder how much the model home would be as you see it - Keep in mind that the model usually contains many upgrades and special features. You will want to understand the differences between the base model and the upgraded models. Consider resale homes in the same community - Even if you didn't think about it. Perhaps you could buy a home in the same community at a discount to the builder model if someone has to move away quickly. It's may be worth seeing anyways.
To Do List Get a copy of the blueprints of your home, along with floorplans and surveys (including room sizes). This will help you in the future if you want to make changes or sell. Some builders may not want you to have them but your Realtor can help with that. As your home is being built and completed, check in! We recommend visiting once per week. If you are proactive, you can catch mistakes that might happen. Some developers limit access to the site, so we can help with that. Be strong at your walkthroughs - Your walkthroughs will be spread out during construction. It is important to be nice but firm in what your expectations are. Having another experienced set of eyes at your walkthroughs that knows the lingo may be invaluable. Finally include your Realtor on all communications - Site agents are notorious for excluding your Realtor from email chains and communications. Make sure that your passing all info along as there may be inconsistencies that need to be hammered out and expectations that need to be met.