There are several new construction projects in the Sarasota Metro Area. Given that brand new homes are usually sold by a builder, some buyers do not see the place for an agent in the transaction. Some have objections to using an agent because they think they are better off without one. I have put together this Q&A to help buyers make the right decision to use an agent when buying from a builder.
Q –Do I need an agent when buying a new home from a builder?
A- YES you do. Why? It’s simple. For many people, buying a house will be the most expensive purchase they will make. Don’t you think you should have somebody representing your interests during this transaction? Your agent’s job will be to represent you and look out for your best interests.
Q– I don’t need an agent because I can negotiate on my own and get a great deal.
A – Yes, you can, but maybe your agent can get you an even better deal. The builder’s agent has been well trained on how to negotiate the maximum price. You need a well-trained agent in your corner too.
Q – By not using an agent, the builder will pass on the agent’s commission savings to me.
A – No they won’t. Builders have a budget for commissions and the cost has already been worked into the price of each house. You don’t get any discounts by not using an agent. The builder saves money but those savings are not passed to you the buyer.
Q – The builder’s agents are very helpful and seem to be looking out for my interests.
A – They are professionals but remember that they work for and negotiate for the builder, not you.
Q – So how do I benefit by using an agent? A – The following are some of the basic things your agent will do for you.
- Negotiate a better package/contract for you including incentives for upgrades and a lower price. An agent can get you more stuff for your money.
- Negotiate incentives on your mortgage if you use the builder’s mortgage company.
- Visit the site often to make sure that everything is being done properly and deadlines are being met. This is especially useful for busy workers and people who are out of town.
- Will arrange for an inspection before the closing. An inspection for a brand new house? Yes, new doesn’t mean no defects. A builder will move more quickly to fix any issues before closing.
- Will hold the builder accountable (and lender, if using their mortgage company) for all incentives and financial promises made to you.
- Will peruse the closing statement to ensure that there are no mistakes, and you don’t end up paying more costs than necessary.
Sometimes the unexpected happens and you find out that your builder is not being cooperative or reasonable. A bad experience with a builder can sour the joy of moving into your brand new home. This can be avoided or mitigated if the buyer had an agent. Bottom line is, buyers who used an agent move in to their brand new homes happier and more satisfied than their neighbors who did not.
Considering the purchase of a brand new home in the Sarasota or Bradenton, Lakewood Ranch or Venice, call me Millicent on 941-960-3580 for a tour of some new communities in the area.