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Buying New Construction? Why you need your own REALTOR®
New construction is a great option for many people who want something perfect to move into. Also great is being able to pick out colors, finishes, and appliances that suite your tastes. Lastly, it is piece of mind knowing that no big ticket items should need to be replaced in the next 10 years (roof, a/c etc).
Builder's agent Vs. Buyer's Agent
A Builder's agent is the agent in the model center who is there to explain all the great features of the builder's homes, show you the model, and talk to you about what the new community has to offer. They are a good resource and source of knowledge for the community they are selling, however they also are there to make the most sales for, you guessed it, the Builder. Their number one priorty is getting the builder the most money possible for their lots and homes because they represent the Builder in the transaction. So while they are a great resource, it is important to have your own representation on your side.
A Buyer's Agent is a Realtor who works to represent the buyer in the transaction. Your Realtor will fight for the best price, and terms for you. They will also make sure that you get the maximum amount of upgrades, best finishes, and most closing costs paid for by the builder.
Buyer beware that often times if you do not bring your Realtor the first time you go to a model home to register, the builder will not pay that agent to represent you later down the road. So always bring your Realtor with you for your first trip to the model home and for each time after until you have negoiated and signed a contract.
A buyer agent's commission is paid for by the builder and it does not cost you anything to use your own Realtor in the transaction. In fact if you don't have your own representation, the money that would've paid your realtor's commisison will go towards marketing and advertising or other expenses, it will not come off the price of the home you are looking to buy. A builder's #1 goal is to sell their homes for the most money possible, therefore having your own Realtor/representation will be helpful in getting you a price and terms that favor you with the least amount of hassle and frustation as possible.
Other things your buyer's agent will do for you:
**Read the contract thouroughly and make sure the contract favors you the buyer when it comes to cancellations, financing contingencies, timelines, walkthoughs, title work etc.
**Recommend and schedule your home inspection. Yes you should STILL get a home inspection when buying new construction!! A lot of times homes are finished in a hurry and things get missed. Getting this done saves your money and hassle down the road.
**Recommend the best financing option. Yes the builder has preferred lenders, and sometimes they are your best option, but your Realtor can advise you if they are not and help you shop around for the best terms and rates for you.
**Neogiate closing dates, lot premiums, price, closing costs paid by builder, upgrades, paint colors, appliance packages and more.
Contact a Lakeland Agent today to get started shopping for a New Home! 863-666-0526!
-Whitney Roberts, Realtor, La Rosa Realty, Lakeland, FL