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7 Reasons Buyers Need a Real Estate Agent When Buying New Construction

Tuesday, May 17, 2022   /   by Anne Rose

7 Reasons Buyers Need a Real Estate Agent When Buying New Construction

Being a homeowner is about much more than the walls that are around you. An experienced real estate agent understands all aspects of purchasing a home, from finding the neighborhood that best fits your lifestyle, to the financial intricacies of negotiation and closing.

If you are a buyer considering new construction for your next home, working with a real estate agent will ensure that you have a professional who is looking out for your interests. Although it is easy to walk into a model home and work directly with a builder, buyers often find that it is both confusing and frustrating to navigate the process on their own.

Here are some of the advantages of working with a real estate agent when you are buying new construction:

1. No Additional Cost

Working with a buyer's agent does not cost a prospective homeowner any additional fees, and does not increase the price of a new construction home. Buyer's agents are paid at closing by the builder/developer. Most real estate agents have relationships with developers and builders, and are welcomed as a source of well-qualified prospective buyers. 

2. Assist with Negotiations

A real estate agent has specific expertise in negotiations that is supported by their knowledge of the local real estate market. A buyer's agent prioritizes the home buyer's best interests.

3. Refer Professionals

Home buyers need a roster of professionals who are dependable, provide services at good value, and know the local environment. An experienced real estate team has established relationships with lenders for construction-to-permanent loans and traditional loans, and ensures that their buyer clients are getting the best financial advice available. 

Real estate agents also maintain a roster of other professionals for pest control, landscaping, packing and moving, HVAC repair, pool maintenance, and more. A buyer's agent will be able to point a home buyer in the right direction immediately, and in the future.

4. Contract Review

"While most times, builders will have their own contracts rather than using NCREC (North Carolina Real Estate Commission) standard documents, and may be reluctant to consider modifications of their standard language," Rick Binford, Broker/Realtor® points out, "having the expertise of someone familiar with all the ins-and-outs that may arise associated with new construction review contract language can certainly ensure the best possible outcomes and options for buyers."

5. Point-of-Contact

"I feel terrible when buyers of new construction tell me that they are working directly with the builder, and that they can't get a returned phone call, or that they don't feel like part of the process after they've signed their contract," says Kyle Frie, Broker/Realtor®. "My job as a buyer's agent is to be responsive and monitor the home build on a regular basis, making sure that my home buyers are informed, updated, and included in all decisions."

A buyer's agent's job is to work for the home buyer. The representative in the builder's model or developer's office is there to guide the new construction sales process according to what the builder needs.

"What do you as the seller need?" asks Teri Moylan, Broker/Realtor®. "You need to know your options! You need to understand your rights. You need someone looking out for your interests and ensuring your requests are being heard from the time you sign the contract all the way through construction to closing - no matter how long that takes."

One of the most important things that a buyer's agent does for someone purchasing new construction is maintain communication, answer questions, address concerns, and, most importantly, document the entire process. 

6. Inspection Coordination

Most builders also include an internal inspection process of the final product. A buyer's agent will ensure that inspections serve the interest of the buyer.

"I always recommend that buyers also invest in having an external inspector review the final product, and as a local real estate expert, I have the resources to refer and manage that process," says Rick Binford. "All too often, a qualified external expert eye will identify elements of the final product that need to be fine-tuned to ensure buyers are getting the best possible product."

Teri Moylan agrees that a builder's walk through and builder's punch list isn't enough for her buyer clients.

"Let's face it, you're not likely to be a contractor and you're probably not going in the crawl spaces during the final walk through," she says. "There's a whole list of things you should know that the builder's representative won't necessarily mention, such as you have the right, and should strongly consider exercising that right, to hire a separate property inspector who is looking for the things beyond the visible that you may see in a builder's walk through." 

7. Ongoing Resource

"A seasoned real estate agent is a great resource for all kinds of home owner issues, from finding lawn care professionals to dog sitters," says Teri Moylan.

Your buyer's agent will help you settle in, make sure that you know your way around, and continue to be a resource for you as you make your new construction home your own.



It's not unusual to hear a buyer say, "But they told me they'd add.... (fill in the blank - such as blinds)... for me, and they didn't."

This happens because communication, documentation, and follow-through didn't take place. Those are the responsibilities of a buyer's agent. Having a professional team like KBT Realty Group provides the new construction home buyer the confidence that those requests and agreements are documented, checked, and double-checked.

A buyer's agent is there to make certain that the needs of the buyer of new construction has their needs met, not the builder's.


 

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