Why Realtors Are Critical When Building A New Home
Why Realtors Are Critical When Building A New Home
When home buyers initially begin the process of buying a new home the search pretty much begins the same for all. The buyer logs onto their computer and begins searching public websites for homes or receives an email regarding homes currently on the market and the outcome is generally the same. At the point where the buyer finds a home they like they contact a Real Estate professional to obtain more information about the home and if the person decides to purchase they in-turn utilize the services of a Realtor to manage and facilitate all of the legal requirements and processes that are required for the purchase. With one exception!
New Build Construction! Many home buyers for some reason undertake this massive and complex process on their own and choose to go it alone, without professional expertise working on their behalf, usually at NO cost to them. The process of new construction homes is far more complex then that of buying an existing resale home. So if one would choose to use a Realtor for the lesser of the complex processes, why would one choose to not use a Realtor for the more complex purchasing process?
The simple answer!!! NO ONE TELLS THEM THEY HAVE THAT OPTION and SHOULD!
There is no disputing that new construction homes offer buyers more incentives then resale homes; such as paid closing costs by the builder, warranties on the construction and appliances, the excitement of picking out cabinets, wall colors, flooring and let's face it there is nothing like the smell of something NEW! But there are some very important facts that many buyer's who go this road alone are unaware of; The documents that are signed are legally binding contracts and many times unaware buyers miss out on many additional incentives that can be negotiated on their behalf if they only brought a licensed real estate agent into the sales office with them when they began the process.
The use of a Realtor in a new construction home purchase usually results in minimal, if any, out of pocket expense for the buyer. All of the Real Estate agent's commission, less any transaction fees if applicable, are paid by the builder. So you get professional advice, an experienced agent to monitor the builder throughout the entire process with minimal to no out of pocket expense. But the return on that decision could save you thousands of dollars throughout the process. As the saying goes "everything is all well and good until something goes wrong." That is when the unrepresented buyer finds themselves alone or in need of legal representation during a new build process which could have been mitigated if a Real Estate Professional was working on their behalf throughout the process.
I had a customer recently who experienced a problem with their new build home. After we negotiated the corrective action the buyer we met with the builder to finalize the corrective action that needed to occur and at the conclusion of the meeting, I , on behalf of my customer asked the builder to resubmit the corrected building plans to the county records office as the original plan of record. This may seem like a minor request but the only documentation that would have been held was by the builder and provided my customer no protection if at any point down the road the builders corrective action was problematic the only record would have been of the incorrect plans filed and therefore my customer would have no recourse if needed. The use of a licensed real estate agent when buying a new home provides the buyers with an advocate that will ensure your rights and best interest are being looked out for and possess the necessary knowledge to ensure the building process is smooth and seamless and your dream home is built exactly the way you envisioned it would be.
If a builder tells you that you don't need a Realtor acting on your behalf, RUN AWAY FAST!!!!
Final Thought!!! When buying a home the buyer is embarking on what will more than likely be the largest single investment of their life. As such it is critical to have a professional working through the process with you to ensure your best interests are being looked out for. From Initial Visit to closing your Real Estate professional's goal is to ensure your home and the process is completed to your specifications and if it is not then to work on your behalf to get it corrected.
Ask yourself this question....Would you go to court without having a lawyer to protect your rights? Why would you purchase Real Estate without having a Real Estate Professional to protect your rights?
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