Why use an Exclusive Buyer Agent for buying a
New Construction Home?
- The Builder's Agent's job is to get the best possible price and terms for their boss, The Builder.
- Your Buyer's Agent's job is to get the best possible price and terms for their client, You.
For Instance, Your Buyer's Agent Will:
- Have you pre-qualified even before you walk into the subdivision office so that your negotiating position is as strong as possible.
- Know the builder's history and reputation particularly with post sales service and warranty because even the best constructed home will have problems that will only show up after you've lived there a while.
- Will do comparative market analysis in the local area around the subdivision so you will have a good concept of the home's value before you walk into the model.
- Know about any problems with the subdivision or the area that may not be known or mentioned up front by the builder's representative.
- Know about resales of homes in nearby or even in the same subdivision that will affect your negotiating position.
- Know about special incentives such as upgrades that may be available but won't be offered without negotiation.
- Know if the builder may stand to benefit by closing out a particular segment by the end of the current quarter or if there are other time constraints that might strengthen your negotiating position.
- Review all the bonds and assessments on the home you select.
- Review the contract to make sure there are no misunderstood provisions.
- Recommend a reliable new construction Home Inspector who will help evaluate the standards and workmanship in the various stages of the building process.
- Follow the transaction through escrow, assuring that everything is being done according to the contract, in a timely manner.
- Watch over the construction if you are absent or out of town.
- Be with you when you select your upgrades. (It might be better for you to spend upgrade allowances on Landscaping, Escrow Costs, etc. rather than inflated builder upgrades). With the money saved you can shop for items such as carpet, drapes, etc. on the open market.
Most builders will pay your buyer's agent real estate fees only if your agent is with you when you first sign in. That means that if you're "just looking around" on your own and don't take your agent with you, you may end up missing out on having your own representation in your purchase.
If your agent accompanies you to register you on your first visit your 100% exclusive representation costs you nothing extra. In fact it usually means that you get much more value in upgrades and possible much better terms than if you left the details of your purchase to the person who is working for the builder.
Resist the impulse to "stop in" to look over subdivision unless you go with or clear it with your buyer's agent!