Furthermore., when buying new construction, you are almost always paying full retail dollar. Your buyer's agent works for you and should be able to bring you some added upgrades, perks, or reduction in price.
I've love to speak with you further. (619) 379-8616
Also, we have access to all the new construction in your area including floorplans. I can also check like new properties. Please contact me for more info.
Coldwell Banker West
"For new construction home, is it better to deal directly with the company's agent than bringing in your own realtor/agent?"
Obtain your own Realtor® representation!
"What would be the benefits?"
Please see many of the reasons here: http://docs.Steven-Anthony.com/BuilderRealtorAgent.pdf
All good information so far, but just a couple of other points. Your own agent can look to see what other homes in the community have already sold for, and a good one will be willing to negotiate that lower price. Oh, negotiation. Builders will not negotiate for you, why would they? The whole reason they're in the real estate development business is to make money.
One more thing, builder purchase contacts are different than the California purchase agreements Realtors use, they're very one sided. You'll definitely want someone working for you and not the developers.
We are primarily listing agents and we also sell new construction. We would definitely recommend you use your own agent. The common myth is that you can get the home at a lower price if you use the builders agent. While that may be so in some cases, it is still better to have someone looking out for your own interest.
Best of luck,
Mark & Kari Shea
Shea Real Estate
Your first step is to interview at least 5 Realtors®! Find a FULL time realtor® who has performed at least 15 transactions in the previous year, has participated in at least 3 new construction projects in the last 2 years. Then have the Realtor® show you some desirable areas which fit your needs and have long term potential at appreciation. Demand the Realtor® attend all meetings before, after and especially during construction this may be as many as 15 meetings, you need your representation at all meetings. As far as timetables go, typical is 4-6 months.
Picking a custom home builder is a lot like picking a realtor®; you should interview several builders before making a decision. Do not solely rely on a referral from an agent! Do the work yourself and interview several. Here’s a short check list of questions to ask:
1) Ask for current client referrals, 3 should be no problem & follow up with each regarding quality of the home and how well the builder did in regard to warranty work after the sale.
2) Ask if the builder is willing to do a cost plus contract this will save you money if the builder is ethical and doesn’t try to steal.
3) If you are obtaining financing ask about construction perm loans, these are one time closing loans and usually save the customer about 2,000 and may also have a tax benefit for you. It also allows you to see all the bills and control all the money.
4) Talk with the builders bank make sure the builder has the resources to complete the project
5) Run a background check on the builder check for current & pending lawsuits
6) Ask for a copy of the builders credit report (personal or company) also ask for a copy of your realtors® credit report before you hire them. This may sound bold but you would be surprised how many are below 600, and then ask yourself do you really want to accept consul on one of the biggest decisions of your life from someone who can’t manage their own financial future?
7) Check with the local home builders association for a list of builders in the area
8) Energy cost are going up and the trend will continue pick an Energy Star home builder and have the home certified as an energy star home this will save you money over the long term, add quality to your home and help the resale down the road. For an energy star home expect to add 2-3% to the price of the home.
9) Ask to see a written copy of the home builders warranty program.
10) CONTRACTS- usually not a big deal and all 3 types work well the question is getting the best deal for you. The 3 types are: Realtor® provided (these protect the interest of the agents & brokers), builder provided (these protect the interest of the builder and usually provide more detail in regard to dispute resolution) home owner provided (these are drawn up by your attorney and favor you in the event a dispute arises) many times a builder will want to use their contracts, it’s usually fine just make sure your real estate attorney reviews the document before you sign.
That’s your top ten list! Good Luck!
I had guide my clients through out the buying process to make sure they understand what they are signing as well as the whole process; to make sure everything is done correctly and to their best interest.
And when is time to do the walk thru to the new home, they are not alone I am there with them and the new construction agent to check if there is anything that needs to be corrected. Just because is a new home it does not mean that is trouble free. When I purchased my new home; I had more than 23 items that the developer needed to correct. So it pays to have someone looking for you!
If you have questions call me, text me or email me I am happy to help.
CA DRE Lic. 01111368
Cell (619) 778-3208
When a dream is a Reality!
"Ask for our buyers rebate program"
If you are interested in New Construction, It's best to take your own Buyer's Agent. The Buyer's Agent will look out for your interest. The Seller's Agent looks out for the Seller. Easy decision. I suggest you contact a Realtor and let them know what areas you are interested in so they can show you all the new construction in those areas. Many new areas have their floor plans available. Let me know If Ican assist you.
Coldwell Banker West
my website has a section on builder new homes I recommend you look at before visiting the builder...Good luck
Buyer 50%-60% Cash Rebate
Seller 50% Commission Discount
Flavio Tejada, Owner/Broker, MBA, Realtor
If you want your own representative they need to be with you on the very first visit or the builder will not compensate them.
It will not hurt to have someone strictly on your side.
Lance King/Owner-Managing Broker
Was this answer helpful? Give it a "thumbs up" if so!
The Marie Souza Team - Top Selling on Cape Cod
Cape Cod Real Estate Services
I work with lots of new home buyers. I help my clients closing costs any where between $1000 to $3000 based on the purchase price. Also negotiate with the builder to get more incentives. Please let me know if I can help you.
It's always best to have your own representative . The owners representative is a person who works for them and does not necessarily represent your best interest ( and may not be licensed by the state because they are an employee of the owner). Find a great agent who is actually licensed by the state to represent you. That agent should accompany you when you visit the builder and view any models. If for some reason the agent can't be there then you can give the builders representative your agents information and let them know that the agent will be your representative ( check with your agent prior to doing this).
All the best,
In my opinion it is always better to have your own agent who represents you and your interest. Since a buyer's agent comes with no cost to you it is always a good rule of thumb to have a professional agent be able to review all contracts and help negotiate the best deal for you.
That is a very good question.
The answer will depend on whether your agent provides you with some sort of incentive.
I actually assist my clients with up to $1,000 towards their closing costs when purchasing a new home in addition to the incentives I am able to get from the homebuilders.
Please let me know if you need any help.
Daniel Di Matteo
Century 21 Award