Investment propertyPut A REALTOR On Your New Home Team
What do you want in new home? To build a home to suit? Move into a model? Whether you build or move into a "spec" home, you want the process to be as quick and easy as possible, and that is why hiring a Realtor will help you work with builders.
Many markets are brimming with new homes, but there"s just one catch. If your area is a hot relocation destination, then you"ll find fewer homes for sale than usual. You"ll also be competing with multiple buyers for the homes that are available.
In many new home communities, builder homes are often sold before the foundation is laid. Lots are snapped up quickly for model homes and build-to-suit homes. When you drive around to look at new home communities, you may be surprised to learn that the new home you just left to "think about" may have a contract on it before you can even turn the car around.
How can you gain an advantage in such a fast-paced market? An expert Realtor who is a new home specialist or relocation specialist can make the difference.
Realtors who specialize in new homes, either as relocation specialists or new home specialists, make it a point to know their communities and its builders inside out. They know which builders have the best reputations, the most inventory, and what the pricing and amenities usually are. Many Realtors work closely with the builder"s on-site representatives who share information such as which homes are under contract, which homes have begun construction, and in which new communities the builder has obtained lots. Smart builders are glad to work with Realtors because they can bring other clients.
Working With Your Agent
You will find that when a Realtor escorts you to a builder"s model, that your agent will register you with the on-site representative. Your agent will let the representative know if you are "just touring," or if you would like a presentation in preparation to buy. If you really like a particular home, the builder, or would like to see more of the builder"s products, you and your agent may return for an in-depth consideration of a particular home or plan and its prices, and features.
For presentations, your agent will step back and let the representative take center stage, because the representative is the expert on the builder, the product, the pricing, and modification possibilities. He or she will help you work out your choices such as carpet and cabinet finishes, and upgrades, if any. When you are ready to talk money and terms, your agent will step back in and assist you with the details and the negotiations of the contract.
Keep in mind that if you choose to be represented by a Realtor, then he or she is your agent. If you tour new homes and register in a new home without your agent, you may be risking your opportunity to be represented by your agent at the transaction. The builder could feel justified in refusing to pay your agent"s commission out of the proceeds of the sale. Also keep in mind that neither the builder nor the on-site representative are your agents, so they won"t be working in your best interest. By the same token, your agent should never send you out to look at homes on your own and should be available for all home viewings, contact with the builder and his/her representative, and all negotiations as well as the closing of the sale.
Also See:
How "Connected" Are New Home Builders to Their Real Roots?