Table of Content
- Job Openings
- You should always have someone looking out for YOUR best interests when buying a new construction home, not just the builders.
- How the Covid-19 Stay at Home requirements in NC affect your ability to buy or sell a home right now.
- How To Sell New Construction As A Realtor
- Sign Up for Real Estate Notifications
- More than 200,000 real estate professionals got their start with Colibri Real Estate. See what they are achieving.
There’s a wide array of agents out there and new construction is a different world compared to resale. Taking the time to find the right agent to fit your needs can make the whole process smoother. They’ll be firmly in your camp so you enjoy a relatively stress-free experience building the home you’ve envisioned, from plan selection through final home delivery. HomeLight makes the complicated process of finding an agent easy by using data to match you with an agent that has a proven track record and relevant experience for your needs.
Having your own buyer’s agent for new construction actually provides you with outside representation. This charge usually applies to any unanticipated costs that come from delays or changes in the price of materials during the building process. Large developers are less inclined to discount prices because they rely on real estate agents to bring them customers. Like new construction homes, the developer works from a standard floor plan and design.
Job Openings
If you decide to not have a real estate agent help you, then you have zero representation on your side. Real estate agents can expertly negotiate fees and are typically knowledgeable about local home values. For instance, they can let you know if the tile floor you want to put in your new kitchen will help or hurt your home value down the road. Plus, your builder will pay your agent's commission, so having an agent doesn't cost you anything.
It’s recommended that you try and utilize a local lender when buying a new build. A real estate agent who has experience with new construction will be able to give a couple recommendations to lenders who offer new construction loans. Another great reason to use a real estate agent when buying new construction is their ability to recommend a quality lender. The financing for new build homesis much different than getting a mortgage for an existing home.
You should always have someone looking out for YOUR best interests when buying a new construction home, not just the builders.
You’ll also want to get your potential agent’s expert opinion on whether or not a certain builder has a history of sticking to their completion dates. Obviously, no one has a crystal ball, but asking about track records can be an indicator regarding the timeliness of your build. Talk to your potential agent about what challenges they’ve encountered in previous new construction deals, and ask about how they solved these problems for their clients.
If you’re building on your land, you will need a construction loan. A buyer’s agent with experience in new construction can request for more detail on building materials, something you as a buyer aren’t trained to spot. It’s customary for the builder, as the seller, to pay the agent’s fee, so hiring pro help here is kind of a no-brainer. The salesperson that you meet in the builder’s sales center or showroom works for the builder.
How the Covid-19 Stay at Home requirements in NC affect your ability to buy or sell a home right now.
We can guarantee your home sale, so you can buy the new build without any contingencies holding you back and align your moving schedules. As it turns out, there is a lot that a real estate agent can do for you when you build a new home. Buying a home can be a full-time job, and new construction can be even more involved! When you work with a Realtor® for new construction, they’ll be there to work with the builder.
I recently helped a buyer with their mortgage options and was able to get my buyer a better rate, as well as more closing costs assistance because we negotiated. Your New Construction real estate agent has relationships with lenders and can help you with negotiating a better rate. After all, you are paying them a lot of money to get the job done. When something happens like a recall the day before closing what are you going to do?
How Do You Know You Are Getting a Good Deal
It’s important that when hiring a real estate agent to represent you in the purchase of a new construction home that you know ask the right questions. Having an experienced buyers agent is important when buying an existing home but having a real estate agent who has experience with new construction is critical. When buying new construction many buyers believe it’s a good idea to not have a real estate agent and to use the builder representative.
When you hire a real estate agent to help you through the transaction, you know that you will also have someone advocating for you during the transaction. You'll have someone there to make sure that you get what you need out of the deal. Think about the location of the homesite within the community. This is where the onsite sales agent is really helpful, because they know each lot in the neighborhood and can help you narrow your selection of a homesite.
These homes are usually built in established neighborhoods and often come with many of the same amenities as older homes, but with the added benefit of being brand new. New construction homes can be a great option for those who want to have a home that is truly their own, and they are often more affordable than buying an older home. Their job is not to represent you and help you compare and contrast different communities, different locations, to help find what would work best for you. That is the job of a REALTOR® working as your buyer agent. Next we’ll help you refer you to a lender, there’s an in-house lender; let’s say you can’t get pre-approved with that in-house lender.
Developers typically work from a standard floor plan for all the homes in their development, but buyers can add or change certain features (type of flooring, countertops, etc.). Learn about elements unique to the new-home market, including architectural design, blueprint reading, site design, construction methods and materials, and so forth. These skills will come in handy when it is time to help your clients chose the best lot or make sure the construction drawings match the home your clients are expecting to be built. You deserve an agent who’s going to advocate for you every step of the way. You may want to consider interviewing a HomeLight real estate agent who has proven experience in the new construction sector. Even in a hot real estate market it’s not uncommon to see the builder offering a discount of $3,000, $5,000 or $10,000 if the buyer closes by a certain date.
The seller’s agent may make double the commission but from the builders perspective, the cost is the same. When you work with the seller’s real estate agent that can fall under two categories. Being categorized as an unrepresented buyer translates to a fiduciary responsibility to the seller, builder, and not technically representing you in any shape or form.
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