Health & Fitness
Buyer New Construction? don't Forget To Bring Your Realtor!
If you are considering buying new construction, don't forget to bring your Realtor. The site agents only represent the builders per the PA Consumer Notice.
New Construction? Don't Forget Your Realtor!
Buyers consider new construction for many reasons, whether it be the 'new house smell', or the alluring blank canvas on which to make your house a home. When a buyer visits a new construction site, it seems to be a one stop shop with a builder's Realtor ready and willing to help you select a model and decide between the plethora of features to meet your needs and desires, dazzling deals and upgrades that you can't possibly live without, a lender who works closely with the builder to offer you the "best" deal and finally an boiler plate contract ready for you to sign on the dotted line....but wait! Are you really getting the best bang for your buck? Are you making the right decisions based on your options? Are you picking the best lot and structural upgrades based on future resale? What are your options after all?
Why do I need a Realtor? Who do I select?
The Realtor who you find working on site, works directly for the builder. This is clearly explained in the Consumer Notice, which by law, explains agency representation. When making one of the largest financial decisions of your life, it's best to do so with someone who is looking out for your interests - a Buyer's Agent. Buyer's Agents and Seller's Agents work together to strike up a partnership, together arriving at a mutually satisfying agreement.
Realtors, specifically Buyers Agent's, have experience in many areas that supersede the everyday home buyer. What can a Realtor offer me?
1) Expertise in the home sale transaction. A Realtor can guide you through the process, step by
step, helping you avoid pit falls and ensuring a smooth transaction.
2) Source of referrals. A Realtor works closely with vendors in the immediate area and knows who is good, who is reputable, and who would best meet your needs. One of the first referrals that they will likely provide, is a good home inspector. Yes, new construction requires a home inspection too! Another critical referral that they will be able to make is supplying you with a list of lenders. Each buyer is financially unique and identifying a lender who is the best fit for the buyer can potentially save the buyer a lot of money over the course of a mortgage.
3) Master negotiator. A Realtor negotiates for a living, and they are able to negotiate all the terms of the sale, from the price to the upgrades. These often uncomfortable conversations can be had by the Realtor on the buyer's behalf.
4) No cost to you. Best of all, a Realtor costs nothing to the buyer. The builder pays the Realtor's commissions! If you are told that if you work directly with the builder, they will decrease the price of the home - this is not likely the case. Commissions are already figured into the cost of the home and moving forward without your own agent will likely end up costing you money at negotiation time.
What Realtor should I select to represent me?
A Realtor who has experience working with builders and new construction is the ideal Buyers Agent for this transaction. The new construction segment of the market is different from negotiate-existing home sales and has its own set of rules and regulations to navigate. A Realtor who is familiar with the specific builder you are considering, knows what areas the builder is willing to negotiate on and what extras can be obtained. This is the best way to get the greatest bang for your buck.
The 2013 market is improving and with it builders will be less willing to offer the incentives they have offered in the recent past. That isn't to say that there is not room for negotiation. A Realtor will also assist you in negotiate price on your lot premium and upgrades. Therefore, it's more important that ever to have a Buyers Agent working on your behalf. It cost you nothing. Happy house hunting!
Frank Dolski MBA, ABR, e-PRO
Associate Broker
Certified Relocation Specialist
Previews Luxury Home Specialist
Coldwell Banker Hearthside Realtors
215-803-3237 (mobile)
215-794-1070 x-103
f.dolski@cbhearthside.com
www.FrankDolski.Com
Ranked #1 In The State of PA in 2012 For All Coldwell Banker Affiliated Realtors!
2012 Coldwell Banker International President’s Elite Award!
2012 Top Producing Agent and Agent of the year for Coldwell Banker Hearthside Realtors!
