BUILD WITH US.
YOUR COMPLETE GUIDE TO PURCHASING NEW CONSTRUCTION..
When you’re home searching, the allure of new construction is undeniable. You will be the first to reside in the pristine home—one untouched by dirty hands or pets. It’s full of brand-new appliances and the finishes or treatments that you personally picked to fit your style. You also won’t have to worry about making any cosmetic or structural upgrades for years.
If you are intrigued by a new construction, the builder’s agent will be ready to assist you with the process. But make no mistake: You need your own real estate agent from the start. DO NOT GO TO VIEW NEW CONSTRUCTION PROPERTIES WITHOUT YOUR AGENT. Even if it seems like plug and play to sign up with the builder’s on-site agent, you’re going to want someone representing your side of the deal.
What is a builder’s agent?
When you buy a new construction, the home’s builder is considered the seller, and the agent representing the builder is called the builder’s agent.
After all, the job of the builder’s agent is to get the highest price for the homes the builder is selling so the agent is not going to be as eager to negotiate down.
Why you should hire an agent for new construction
It’s a good idea to have your real estate agent accompany you on your first visit to the new construction. Why? Because the builder (aka the seller) will be responsible for paying the commission, and needs to know if you’ll have a real estate agent representing you. So bringing your agent to the first visit will make it clear that the builder’s agent will be on the hook for paying commission. Some builders might even refuse to pay your agent a commission if you don’t register the agent the first time you visit the home on a new construction site.
When buying new construction, here’s what your real estate agent will help you with that you might miss out on if you stick with the builder’s agent:
Negotiating extras: Want upgraded counters or appliances in that new home? Your agent can help you with all those extra perks, amenities, and upgrades.
Recommending financing: A builder typically will have a “preferred” lender that it will try to steer you to, but your real estate agent can help make sure that you’re getting the mortgage that works best for your situation. Shopping around is always wise, and you don’t want the builder’s agent pressuring you into using their suggested professional unless it’s right for you.
Overseeing a home inspection: Tempted to forgo a home inspection in new construction? Don’t do it, advises Welsh. “The number and severity of new-home defects often rival resale home problems,” he says.The builder’s agent is unlikely to push for or offer up an inspection, so it’s up to you and your real estate agent to make it happen.
KELLER WILLIAMS PHILADELPHIA │CELL 302.883.9202 │ OFFICE 215.267.3500 │ 1619 WALNUT STREET, PHILADELPHIA PA 19103