After a long, exhausting search of resale homes, I had a
buyer client call me on Saturday and ask if they were to buy new construction
if I would be paid. The answer to that is YES. It
is extremely important that you disclose to the builder that you are
working with a real estate agent.
This particular client has a great understanding of the
fundamentals of buying real estate. We have researched tax records, MLS histories,
property disclosures, and neighborhood values on more homes than you can shake
a stick at. They know how important it is to have their own representation. On
a personal note, I am thankful they chose me.
I could probably write a book on the reasons why you
should have your own representation when purchasing new construction, but I
promise to keep this short and sweet.
The onsite agent’s job is to get the best deal for the
builder. If things go sour during a build job, you need someone who will fight
for YOU. Remember, your agent is paid by the builder, but works for YOU. I
cannot tell you enough how important it is to have someone on your side during
such a large financial investment.
There is a common myth about NOT using a real estate
agent in your deal that I would like to BUST!
Myth: “I’ll
get a better deal/cut if I buy directly from the builder and not use an agent”.
Reality: An
unrepresented buyer can be at a real disadvantage not to using an
experienced real estate professional. The fact that there is no
commission paid on a particular home does not mean there is more room for
negotiation on a home. Any reputable builder would never offer such a deal
because of the ramifications it would have within the broker community. This means
you cannot negotiate down the percentage that would have been paid to your
agent. If a builder were to cut agents out of the loop they would have “that
reputation” and it would spread like wildfire among the real estate broker
community. With the high volumes of sales made by real estate agents on new
home sites, that is not a lead source that any builder would risk. Myth
busted! You will not get
a better deal by not using a realtor.
My job is to represent my clients’ best interest and assist them through the entire transaction with as little frustration and hassle as possible. My goal is to get my client the most value for the least money. I have heard buyers say they do not need an agent for a transaction, but I have NEVER had a client say to me at the end of the transaction that they were sorry they had me at their side during the process. The least important part of my job is showing houses (although it is important); my real value comes later in negotiating and working through the process on behalf of my client.
So, if you’re looking to buy a new construction home,
hire a professional! I can be reached at: (803).944-9544 or by email at:
hope.dorn@era.com.
