Home Buying in 89123>Question Details

Cindy, Home Buyer in Las Vegas, NV

Is it OK to not have an agent when you are purchasing new construction property?

Asked by Cindy, Las Vegas, NV Mon Mar 10, 2014

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38
Scott Kissel’s answer
I would use a Realtor. The agent at the sales office works for the builder. You should have an agent represent you, it does not change the purchase price and I do not charge you a fee. I go with you to help you with writing the offer, framing walk, inspection, design center, lending appointment, closing, final walk and more. I will also give you all options available in the are for new construction and let you know about any builder specials.
0 votes Thank Flag Link Mon Jul 14, 2014
Sure , as long as you know what your rights are and what you've agreed to in the purchase agreement. Most issues arise when the consumer doesn't understand the legalities of an agreement. the agent sitting at the sales office represents the seller first and foremost . They will fill out the paperwork and help you close the transaction , but if a problem arises , You'll have to hire an attorney. Most consumers never really know there is a problem until there is one . You do not have to pay a Realtor to represent you as they are offered compensation for preparing you and bringing you to the property and making sure you complete your due diligence.I guess the decision is , do you work with a professional in the beginning and avoid pitfalls or wait and see if anything happens , then hire an expensive attorney to bail you out ,if its not too late. Problem is , you don't know what you don't know . Issues come up . Ive had people ask me to help them after the fact and then its too late. Just had a guy ask me to help because the builders lender said he could qualify without putting his info through complete underwriting conditions. He put $5,000 down in earnest money ,then put money down on options he wanted for the home. It took 4 months to build. As they were getting ready to close , the lender said he couldn't qualify for what they promised and he would have to switch to a higher interest rate and payment . He didn't want that , so he walked and they wouldn't give him back his Earnest Money or deposits even though they had another buyer in the back up
position.Often times , the builders lender will offer "incentives " to use their mortgage product , but if you only knew how much more that would cost you you probably wouldn't do it . There are alot of issues you can run into. Hope that helps you .
1 vote Thank Flag Link Tue Mar 11, 2014
Sure it is. Just make sure you read the contract thoroughly. If there are areas that you do not understand than consult with an attorney or take a gander in a legal dictionary. The important thing is that you read all the print and understand your rights etc.
0 votes Thank Flag Link Wed Mar 11, 2015
Absolutely, you can purchase new construction without an agent, but how would that benefit you? A buyer's agent on new construction is there to make sure your choices are not overlooked, and to help with negotiation. We can help walk you through the entire process. Since the Seller will be paying our commission, the question I have is why would you NOT want a Buyer's Agent?
0 votes Thank Flag Link Sat Feb 21, 2015
I feel if its your first house or your 50th house, its always good to have a professional represent you in any transaction. When purchasing a new home, there is a sales agent who represents the builder. Think of the sales agent as the seller in a normal resale transaction. Would you directly with the seller to purchase a home? What are they and are they not telling you? Having someone who represents you and your best interest, its always a good idea to have someone on your side.
0 votes Thank Flag Link Sat Feb 21, 2015
I feel if its your first house or your 50th house, its always good to have a professional represent you in any transaction. When purchasing a new home, there is a sales agent who represents the builder. Think of the sales agent as the seller in a normal resale transaction. Would you directly with the seller to purchase a home? What are they and are they not telling you? Having someone who represents you and your best interest, its always a good idea to have someone on your side.
0 votes Thank Flag Link Sat Feb 21, 2015
Sure, you can have an agent. Agent will represent your rights and professionaly walk you through all process. Please, contact me at 305-842-4500 within any questions you might have
0 votes Thank Flag Link Sat Feb 21, 2015
I guess that is a matter of opinion, if it's your first house you've ever bought in your entire life I think you need some sort of guidance, because lots of people can take advantage of you, but if you've bought and sold 8 10 houses, then you pretty much know what you doing. The new home subdivisions don't allow the agent to do much guiding so all they do is get paid, I'm not a fan of getting paid for doing almost nothing. Understand this is my opinion.
0 votes Thank Flag Link Sat Feb 21, 2015
When purchasing a new construction home, the sales agent on site is a sales person for the builder and does not represent you the buyer. It is always best to have a professional represent you especially since having representation will not cost you a thing. Your agent will be paid buy the seller / builder. Some people think they will not have a real estate agent represent them and they will get a better deal since they are not paying an agent. This is false. I worked for 2 different home builders over 3 years and never once was extra incentive given for not having an agent.
0 votes Thank Flag Link Sat Feb 21, 2015
Yes it is ok and actually preferred. You are much better off having a real estate attorney. Agents are only looking out for themselves and their commission.
0 votes Thank Flag Link Tue Jan 13, 2015
Have you found a home already or are you still looking?
0 votes Thank Flag Link Fri Sep 19, 2014
Representation by a professional who is looking out for your best interest is ideal. If your home preference is new build or a resale property, I recommend contacting a local professional to assist with all facets of the process.

Regards,
Chad Roberts
Broker/Salesperson
Realty One Group
0 votes Thank Flag Link Wed Sep 17, 2014
These professionals you speak of are not looking out for the client's best interest. They are looking out for themselves and their commission. You have auto repair ripoffs and real estate agents. Both are the same.
Flag Tue Jan 13, 2015
Absolutely, it is ok to not have your own agent! However, Builders are 100% in it for them. And though they have many enticements, do you think you are going to get your best deal from a person whose job is to look out for the interests of the seller?

That is like assuming a new car dealer is going to give you their lowest and best price - just because. You don't get their lowest and best price unless you low what to negotiate for, and then negotiate for it.

The same is true with builders.

Would you like a negotiator on your side? It won't cost you any money and could possibly save you thousands.

Daniel Richards
Signature Real Estate Group
702.673.7022

Call me. ?
0 votes Thank Flag Link Wed Sep 17, 2014
Why buy new? Have you seen the price per sqft on New Builds vs Resale homes? I am pretty sure you have not because if you did I highly doubt you would still be looking at New Builds.

New homes are way over priced right now and when you go to resell your home is not "new" any longer and you will be competing with other resale sellers that bought at much lower prices.

Not to mention if the market continues to soften builders will start doing price reductions which means your neighbor might pay THOUSANDS less than you did for the same home.

If you plan to buy it and live there for 10 plus years go ahead and buy. If you plan to sell sooner than that you might want to reevaluate what you are buying. If you would like discuss this further please feel free to reach out.

Builders are already having a tough time selling at the overprice rates and are already starting to offer buyer incentives to try to avoid price reductions. But in time you will see price reductions anyways.

From an agents perspective it is easier to sell you a NEW Build but it is not in your best interest. My 2 cents. I hope this is helpful.


Best Regards,
Robert Adams
Licensed Real Estate Broker NV#62827 MA#9530304 RI#18138

NV Broker & Team Leader of The Adams Team at Rothwell Gornt Companies
C:702-349-9175
O:702-932-8813
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com


MA & RI Broker at Sankey Real Estate
C: 508-250-0345
O: 508-543-8060
F: 508-643-1515
RobertAdams@MArealestateHELP.com
http://www.MArealestateHELP.com

RobertAdams@RIrealestateHELP.com
http://www.RIrealestateHELP.com
0 votes Thank Flag Link Wed Sep 17, 2014
Here is a prime example of what I am talking about "6485 GRAND MAYNE CT". It was bought in 2011 as a New Build for $296k and now in 2014 that same home is being short sold for a list price of $285k. That is crazy considering if you bought any resale home for market value in 2011 you gained about 60% appreciation since 2011.

I warned people about this a while back here (remember this article is from 2013 so some of the info is dated now, Check blog for more recent updates): http://www.lvrealestatehelp.com/blog/buying-right-now-make-sure-you-buy-smart-so-you-dont-regret-it-in-2014
Flag Wed Sep 17, 2014
You do not want the help from a real estate professional when purchasing a house? That seems a bit risky to me.
0 votes Thank Flag Link Sat Jul 12, 2014
Hi Cindy,
Do you have your construction financing in place yet? At City First Mortgage Services we offer one time close construction loans. Call and ask me about it. It's a fantastic product!

Check me out at the link below and get your free approval today!
http://www.city1stlasvegas.com/EmployeeDetail.aspx?EmployeeI…

Thank you for choosing City First Mortgage Services,

Nathan T. Kessler | Sr. Mortgage Loan Originator

City First Mortgage Services
8871 W Flamingo Rd Suite 202
Las Vegas, NV 89147
(C) 702.683.3126 | (F) 702.974.0848 | (O) 702-522-6743
nathan.kessler@city1st.com http://www.city1stlasvegas.com
Company NMLS # 3117 | Branch NMLS # 819501
Individual NMLS # 377217 NV #46175
0 votes Thank Flag Link Thu Jul 10, 2014
I would always use an agent for new construction. Builders provide agents lists of incentives they will offer that a lot of times they don't just spill all that info up front to a buyer.
0 votes Thank Flag Link Wed Jul 9, 2014
As mentioned by Ms. Moore emphasized, a home inspection is suggested. Builders will sub-contract work on new construction, but some sub-contractors will take short cuts which can be a headache for you later. It is best we inspect the home before you move in. City and county building inspectors are very busy and usually do not spend a lot of time on a given home.
Even when a home is purchased there is typically a one year warranty. We ca n perform an 11 month inspection for you to submit to the builder prior to the expiration of that warranty. This will support any claims that are recorded with a time and date. I have met with builder representatives at the property, and addressed my findings with them in the clients presence, and the issues were addressed and corrected by the builder.
Feel free to contact me if you have any questions or concerns, I am here to help.
Lee Taylor
LVInspector@yahoo.com
702-616-6775
0 votes Thank Flag Link Mon Jul 7, 2014
Representation by a Realtor is in your best interest regarding a new or resale property. In addition to assisting with the new build negotiations, there are other factors to consider, incentives, lot premiums, base price negotiations, design center negotiations, etc. Please let me know if I may be of assistance.

Regards,
Chad Roberts
Broker/Salesperson
Realty One Group
0 votes Thank Flag Link Thu Mar 27, 2014
Purchasing a home without representation is never a good idea - whether the home is new or not. Even new home builders can build homes with existing damage - even water damage!!

It is easy to find an agent, like myself, who represents buyers without any fees to the buyer.

Angela Brasser
Broker/salesman
(702) 460-2515
Http://www.vegasrealtyvalues.com
0 votes Thank Flag Link Wed Mar 19, 2014
You could but it is still wise to bring in a local Realtor in case you have any questions along the process as it would cost you nothing out of pocket. I am actually a new home specialist and could accompany you as it would be FREE of Charge to you.



Daniel Lemieux
Signature Real Estate
9525 Hillwood Dr. #120
Las Vegas, NV 89134
702-349-9566
DWLemieux@gmail.com
0 votes Thank Flag Link Tue Mar 11, 2014
It would be stupid not to use a LOCAL agent because the price does not change but the commission is paid by the builder. Unless you are confident of all aspect of the purchase and you can negotiate with the builder to give back the commission amount in upgrades it will be a good idea to do that.

Keep in mind that all aspect of the building homes are regulated and inspected by the local government and the construction is controlled by building codes, so you really have not much to worry about. That does not say that builders don't take shortcuts to save money. regardless of all that you are always taking a chance when you are buying a new home if you are not aware of the area where the house is being built.

Good luck

Elmo
0 votes Thank Flag Link Tue Mar 11, 2014
Sure you can represent yourself. However, I am a member of Southern Nevada Home builders Association and work with numerous builder.
Feel free to contact me with additional information.
Thank you,
Reza Nour
Prudential Americana Group
702-460-9002
0 votes Thank Flag Link Mon Mar 10, 2014
Dear Cindy,
Its ok not to have an agent if you do not want anyone to represent your interests. However, having said that keep in mind the agents for the builder work for the seller, they are looking after their sellers interest only.
Its always wise to have representation when you purchase a new home .
You would have an agreement with your buyers agent to exercise reasonable skill and care to carry out all the terms of the brokerage agreement and the licensees duties in the agreement.
The agent will disclose who they represent.Your agent will represent your interest in the purchase of a new home
.One example many clients without their own representation have difficulty with is their final walk through.
More often the construction manager will of course represent the builder and rush you through the process . As a client you have the right to have a home inspector find any defects on the property prior to the close of escrow.Your agent will put in writing any and all defects or repairs that need to be done and the agent will check to make sure all the work is done to your satisfaction.
However, without an agent to represent you this most likely would not be approved by the seller.

This is but one instance that occurs when a buyer purchasing a new home has no representation
Wishing you the best .

Helene M Moore
Windermere Prestige Properties
2200 Paseo Verde Parkway suite 160
Henderson Nevada 89052
cell phone 702-275-2192 texting is ok
email
helenem@windermere.com
0 votes • Thank • Flag • Link • Delete • A moment ago
Helene Moore, Real Estate Pro in Henderson, NV
Contact
0 votes Thank Flag Link Mon Mar 10, 2014
When you want to buy a home...especially a new construction home... the best place to start is to hire an EXCLUSIVE Buyer Agent, not just a Buyer's Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position. I can refer you to an EBA in your area, if you like.

I've written a best selling book called Buying a Home: Don't Let Them Make a Monkey Out of You. It'll teach you how to buy a home and get a mortgage without getting ripped off. Follow the link below.

Best of luck!

Alysse Musgrave
214-734-3863
Alysse@HelpUBuyAmerica.com
http://www.HelpUBuyAmerica.com
0 votes Thank Flag Link Mon Mar 10, 2014
Cindy:
Yes. You do not need to have an gent with you. If you are with me, I will get rebate 1/3 of my commission to you.

Ping To
0 votes Thank Flag Link Mon Mar 10, 2014
I am not sure that this is an Real Estate Agent.
Flag Tue Mar 11, 2014
That really stinks. You have to give away your commission to get buyers. Isn't your knowledge and experience worth anything.This is what makes our industry
look like used car salesman. Where is your pride man ?
Flag Tue Mar 11, 2014
Hi Cindy,

It's OK! And....It's a good idea to be represented by a buyer's agent, even when purchasing a new home. As a buyer's agent we work for you and look out for your best interest. We know what to look for to make sure you are protected in the transaction. The new home agent will provide you with everything you need for the purchase and closing of your new home. To have another set of eyes working for you is always a good idea. Contact me with any questions you may have.

Best Wishes,

Heather Neuwirth
Keller Williams Realty
The Market Place Summerlin
10000 W Charleston Blvd. #130
Las Vegas, NV 89135
702-469-7163 cell
VegasValleyDreamHomes@gmail.com
0 votes Thank Flag Link Mon Mar 10, 2014
yes you can, but the agent that will be there to sell you the house works for the builder,
the agent you bring will be working for you & your best interest, even though as the buyer your not paying your agents commission, it comes from the seller & the escrow your agent may or may not have a small fee for helping you, but it is worth it

thanks for the question
Edward Brooks REALTOR
prudential Americana group realtors
edwardbrooks67@yahoo.com
0 votes Thank Flag Link Mon Mar 10, 2014
No, please never do a real estate transaction with out an experienced agent to represent you. This one lesson will save you a lot of drama, money and possible heart ache. Call me, I specialize in new homes since 1985. My husband was a contractor and can make sure you're getting a good home.
Kim - 702.496.5515
0 votes Thank Flag Link Mon Mar 10, 2014
Hi Cindy

It's more than O.K to have an agent to look after your interest and present you! Keep in mind that when you walk into a new home sales track, the sales persons are representing the seller and have the seller's interest in mind! You are entitled to have your own representation and hire a professional and experienced real estate agent that will make sure that your purchase of the new home will be smooth and work for you...the buyer!

For a list of New Homes, please contact me at 702-612-7099 or email me at cvegashomes@gmail.com

Rena Levy
Broker/Associate
Buyer Accredited Representation (ABR)
Realty Executives
702-612-7099
Web Reference: http://www.cvegashomes.com
0 votes Thank Flag Link Mon Mar 10, 2014
Hi Cindy,

It's always OK to not have an agent when buying any property... but why would you go through that alone? Working with a real estate agent is nothing but beneficial to you. And you have to remember that the real estate agent for new construction who works for the builder will always try to get the best deal for the builder.
Check out my blog for a list of reasons!

-Samantha
0 votes Thank Flag Link Mon Mar 10, 2014
Hi Cindy,

it's ok.. but it would be better if you would have an agent with you who is on your side and who know does know the ins and outs, what to watch out for.. builders agents work for the builders best interest.. I'm actually doing a quite a lot of new home purchases..
This Is up to you, I wish you good luck, Cindy!
If you might consider the option to get an agent, you can contact me directly below and I would be glad to assist you!

Warmest regards,

Denny Hebibovich - REALTOR
Realty ONE Group, Inc.
8395 W Sunset Rd #190
Las Vegas, NV 89113

CELL: 702-241-6110
EFAX: 702-920-8775
EMAIL: Denny@PropertiesofLasVegas.com
WEB: http://www.PropertiesofLasVegas.com
WEB: http://awp208099.las.mlxchange.com
WEB: http://www.Immobel.com/LasVegasNevadaUSA/
0 votes Thank Flag Link Mon Mar 10, 2014
It is OK to not have an agent, but an agent can help save you a lot of money with purchase and loan conditions that may be over-looked. Using an agent costs you the buyer nothing as the builder pays our fee.

Please don't hesitate to give me a call and I'll be happy to discuss everything with you.

Adam Kaplan
Rock Realty
7324 W. Cheyenne #2
Las Vegas, NV 89129
Direct: 702-630-5111
0 votes Thank Flag Link Mon Mar 10, 2014
Cindy
I always recommend that when you are purchasing a new property from the builder that it is your best interest to have an agent represent you. It is just a good idea to have an agent in your corner . If you work with the builder and the builders lender they may not always have your best interest in mind. If something goes sideways during the transaction you are in a much better position when you have a experienced Realtor representing you.
Thank You
Suzie Marquardt
0 votes Thank Flag Link Mon Mar 10, 2014
Hi Cindy,
you really should find an agent to represent you. Hopefully you haven't already started communications with the builder you are interested in. It is standard for them to ask you during initial contact as to if you are working with an agent and that is the time you definitely want to have one. If you don't have an agent outside of the builder's, you have no one there for the purpose of looking out for you and making sure you are clear on what you are signing/agreeing to.

I would love to help you with a purchase but regardless, you do need one.

Feel free to call/email me with any questions and good luck to you. Do not sign anything you do not fully understand.

Laura Bauer
Foundation Realty, LLC
702-370-1072
lauri365@aol.com

http://www.trulia.com/voices/profile/Real_Estate_Pro-Las_Veg…
0 votes Thank Flag Link Mon Mar 10, 2014
Sure it is OK. However, it is better to have one. The builder's salesagent works for the builder. You need your own agent who works for you.
0 votes Thank Flag Link Mon Mar 10, 2014
Hi Cindy!

I actually purchased my new house before I was an agent, without another agent. We are here for your best interests, but it can be done! If you have questions, feel free to call or text me! 702-285-7307!
0 votes Thank Flag Link Mon Mar 10, 2014
An Agent is there to look out for your best interests! I would suggest finding one that you trust. If your comfortable with the site agent or listing agent, great!
0 votes Thank Flag Link Mon Mar 10, 2014
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