March 12, 2013

Protect Yourself: Why You Should Consider Hiring A Realtor When Buying From A Builder

Q: Do I need to hire a real estate agent to represent me when I buy a new home from a builder?

A: Legally, no.   But if you don’t, you might be missing out on some tangible benefits that can negatively impact your bottom line and how much you ultimately get for your money.

There are many reasons why an agent is a sound investment during
the purchase process with a builder. While some of them can be quite complex (and go beyond the scope of this blog post), here are a few highlights:

Market Value Compared to Purchase Price: How much money are you going to be able to come out of pocket for your down payment? If you don’t want a nasty surprise when it comes to disparities between your agreed upon purchase price and the actual market value of the home, you’ll want an agent with access to information which will help you accurately assess the true value of that brand new home.

Negotiation Power: Real estate agents are professional negotiators, and often an agent can get more from a builder than you would on your own. While some of this might be related to purchase price, other perks may include property or home upgrades.  (Ask me about savings on upgrades)

Financing: It’s probably no surprise that your builder will have preferred financing partners to work with. Many of those “partners” pay good money for the opportunity to handle your loan. But is it the best loan at the best rate? An agent can be both a sounding board for financing terms and a source for trusted alternatives. (Ask me about savings on financing)

Contract Expertise: While your real estate agent isn’t an attorney, they know a great deal about the ins-and-outs of property contracts. This includes builder’s contracts, which may have provisions that put you in dicey territory should something unforeseen happen. Protect yourself with an agent.

These four reasons are a good place to start, but there are plenty more.

The bottom line is: The builder has their own system in place to maximize their profits and minimize their costs. Shouldn’t you? (See important information below*)

Having worked for a very well-respected regional builder for almost 15 years, I am very familiar with the ins and outs of new construction and I’m more than happy to help you with your new home purchase from the builder of your choice:   Call me for more information   (914) 374-8354

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