Buying New Construction...Do I Need My Own Realtor?

Yesterday I was talking about the advantages of having a buyer's agent representing you in the home purchase. I was out yesterday with a buyer client of mine (also a good friend). They were thinking of looking at new construction and had stopped by a builder's model on their way home from church to pick up some information. They asked me what was the proper procedure since it was new construction.

I went through this a few years ago before I got into the Real Estate business myself. I wanted to buy new construction and thought I just had to deal with the agent representing the builder at the subdivision I was considering. I told them hold on. The builder's agent is paid for and hired by the builder to look out for the builder's best interest; not yours. You need someone to look out for your interests and help you negotiate the best deal possible for YOU.

Buyer's are thinking and believing that if they buy new construction from a builder that they have to deal with the builder agent and do not need representation at all... Quite the contrary. In fact, I went with my clients back to the model home and sat with them as they went through the spec house and looked at upgrade options and lots. When asked I provided feedback from my experience in the business to the pros and cons of certain things.

Iin turn had done a comprehensive market analysis of the recent homes the builder had sold (since he had them listed on the MLS) and told my Buyer's this is what the average home has sold for in the last three months... they need to make an informed educated decision when they are looking to purchase a home. It does notmatter if it is a resale of an existing home or a new construction home being built.

After some negotiating I was able to get the price lowered for them and some extra upgrades thrown in. I think this was the bottom line for the builder but the buyer was unaware they could ask for and negotiate such items. When we left they said thank you...You just saved us some money and got us the upgrades we wanted; but did not think we could afford initially.

So, the moral is if you are looking at new construction...hire a Realtor to work for YOU. The builder is going to pay the Realtor for bringing you there and you can be at ease knowing YOUR best interests are being represented in the transaction.

Dave diCecco

Realtor/Agent

www.davedicecco.com