Do You Need a Realtor for New Construction?

Why using a Realtor when buying New Construction is a must:

Timing

Realtors will have extensive knowledge regardless of whether you are buying an existing home or looking at new construction properties. They’ll know your area’s real estate market inside and out, which will help you get the best deal possible. One thing your Realtor will help you determine is the best time to buy. Surprisingly, many of the largest builders in the U.S are publicly traded companies, meaning they have to report to shareholders and meet sales goals. For instance, your Realtor might tell you that the best time to buy a new construction home is toward the end of the quarter. As the quarter comes to a close, builders will be more aggressive with sales, meaning they will be more open to negotiations in order to meet said goals. Your Realtor knows the best time to buy, based on local and market trends, and can guide you through the process.

Builder Knowledge

As stated previously, a real estate agent has a lot of experience in your local home market. This knowledge will help you in finding a builder perfect for you and your needs. An agent will know about the quality of work, warranties, and records for resolving issues. Start putting together your wants and needs to get yourself organized. This will help you and your agent piece together your dream home and find the right builders for the job. At the end of the day, your agent will know who to work with and who not to work with from past experience. Another big decision you’ll have to make when building a new home are the upgrades you want to make. This process can be quite expensive, especially if you don’t know what upgrades you should make. Your agent will help you decide on the best upgrades and explain the pros and cons of each.

Negotiating

An agent will look at the transaction of your new home from an objective perspective and not an emotional one. A realtor will also know what is and isn’t negotiable. Builders will be more likely to negotiate on any fees or upgrades instead of price. With the extensive knowledge of upgrades in new construction homes, an agent would be perfect for negotiating during the process. This can help ensure you get a fair price for any upgrades or alterations to your home. At the end of the day, negotiating on your own is an emotional process that will leave you frustrated and drained. Utilizing an agent’s experience and knowledge in negotiating contracts would be a huge help in the process.

Contracts and Contingencies

Realtors are experts in the industry and local market who will provide guidance throughout the real estate transaction. Agents review real estate contracts regularly and know what to look for to ensure everything is in order. It’s a good idea to not sign any paperwork or contracts without your agent being present to review and advise. If not, you could be overwhelmed and unsure of what you’re signing. Even worse, you could overlook something critical and sign anyway not knowing. While most respected builders are good and ethical people, it’s always a good idea to have someone who knows just as much as they do when looking at contracts. Realtors have dealt with builders in the past and have a leg up when it comes to experience. A real estate agent will know what to look for before you sign a contract or agree on any contingencies.

Inspection

Everyone knows to conduct an inspection when buying an existing home, but you also need to get an inspection when buying a new construction home as well. An agent will be able to recommend the right inspections for a new home. Realtors also have past experience with home inspectors so they can recommend someone who will look out for your best interest. If another inspector is being used, a realtor will even help set the appointment with whatever inspector and review their report to identify potential areas of negotiation, corrections, repairs, or replacements with the builder. So before it’s time to get your keys, an agent will make sure all inspections are performed and that your dream home is safe to move into.