Home Buying in Stafford>Question Details

Ryan Leonen, Home Buyer in Stafford County, VA

We are looking to buy a new construction home. We have a tentative purchase price. What are the advantages of using a realtor?

Asked by Ryan Leonen, Stafford County, VA Wed Dec 1, 2010

We have selected options, etc and have a purchase price.

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17
Ryan - even if it's too late for you to have your own representation check the contract to determine if you can have an independent home inspection. Many buyers have a pre-drywall inspection (like Stuart mentioned) by an inspector of their choice, in addition to the builder's inspection. It might give you some peace of mind as to the quality of the workmanship. Be sure to talk with other homeowners in the neighborhood as well, as to the responsiveness and all around customer service provided by the builder.
Web Reference: http://www.4Stafford.com
1 vote Thank Flag Link Thu Dec 2, 2010
Ryan, as a home inspector not a Realtor, I can confirm the preceding comments about builders looking out for their interests. I advise to at least talk to an agent to see if they can help you. I'm pretty sure that having concern for you is the last thing on the builder/developers schedule other than making sure you get there to sign at closing. If the house is a standard spec job then the builder makes money by building it fast, and as cheaply as possible, and sell it fast. I inspect a lot of new construction homes and perform pre-drywall construction inspections in the area. Once you close on the house, things like builder's warranties and service tend to be subject to a lot of interpretation. Virginia instated the Implied New Home Warranty Law (Virginia Code 55-70.1) for a reason
1 vote Thank Flag Link Wed Dec 1, 2010
The person you've been talking to at the site works for the builder/contractor. He/she is NOT looking out for your best interests. They probably convinced you that the 'Options" are worth the price. They're usually not. It sounds like you're pretty far along with the deal so at this point the builder/contractor may not agree to pay an agent for you. You can always check. If you don't ask, the answert is always 'No'!
0 votes Thank Flag Link Tue Apr 16, 2013
I would have to agree with the other realtors. You should always have a realtor to represent you even with new construction because a lot of the salespersons that work for builders are not licensed agents that are bound by ethics, and the rules that we as realtors follow. Also keep in mind the salesperson at the site works for the builder don't you want someone that represents strictly you? If you have anymore questions email me at nikkitherealtor@gmail.com or visit my website at http://www.staffordvahomes.com.
0 votes Thank Flag Link Sun Mar 24, 2013
Would you go to your nieghbor for dental work? Would you go to your butcher for heart surgery? I helped buyers with about 50 home transactions last year. I might know something about the process that could save you a lot of money and frustration. Why wouldn't you use a realtor? Doesn't cost you a penny but it might if you don't.
0 votes Thank Flag Link Sun Feb 20, 2011
Ryan,
We have just completed an extensive explaination on our Trulia blog which answers your question in detail. http://www.trulia.com/blog/dwayneandmaryannemoyers/ Please feel free to contact us for any additional questions you may have. We have lived in Stafford for 20 years, We have managed sales for local builders in the Stafford/Fredericksburg area, and we can answer any questions you have aboutthe surrounding area including Stafford County schools http://www.co.stafford.va.us/.

The Moyers Team: Dwayne & Maryanne
http://www.notyourtypicalrealtor.com
http://www.facebook.com/pages/The-Moyers-Team-Realtors/31134…
0 votes Thank Flag Link Sun Feb 20, 2011
Hello Ryan,

I am a Realtor and iakll be more than intere
Having a Realtor is in your advantage for several reason:
1. As a buyer, you don't pay your Realtor. The seller does. You might have to pay just the admin fee ($150 to $400).
2. Your Realtor has to negotiate a good deal for you and secure the terms of your contract. That include to read and fully explain you what you are getting involved in.
3. Run a market analysis for you to determine the resell potential of the property that you are considering to purchase.
4. A lot more things....

Feel free to contact me @ 202-704-1249
0 votes Thank Flag Link Thu Dec 2, 2010
Ryan-I would suspect at this point the builder will tell you that an agent would not receive any compensation if they came back with you. Ask the builder to send you a copy of the registration card you filled out. I expect you will see somewhere on the card a phrase that says you registered without an agent or visited without an agent and therefore no agent is eligible for compensation.

Having been involved in over 20 new home deals in the last few years I know the drill fairly well.
0 votes Thank Flag Link Wed Dec 1, 2010
It is always prudent to use a buyer's agent and never prudent to go without one.
0 votes Thank Flag Link Wed Dec 1, 2010
I appreciate all the feedback thus far. So far, we picked a lot, priced the home with options we liked, and placed $20 for a lot hold. We haven't signed a contract yet, or spoked to the builder's approved lender. At this point, based on the replies, it would still seem prudent to use a buyer's agent--do you agree?
0 votes Thank Flag Link Wed Dec 1, 2010
A question for you. Why wouldn't you want buyer representation? The builders only interest is his regardless what they tell you. It doesn't cost you a penny actully satisically it saves you money. How many new constructions homes have you purchased this year? I have assisted my clients with about ten new constructions this year. My answer to your question is find a Realtor that is an accredited buyers represetative. Simple put it is not the first time to the rodeo for a realtor. One caveot, pick your Realtor wisely because not all Realtors have the same experience level. Obviously if you would like my help contact me. Good luck.
Web Reference: http://www.ThinkJonSnow.com
0 votes Thank Flag Link Wed Dec 1, 2010
on new construction? little to none
0 votes Thank Flag Link Wed Dec 1, 2010
The answer is plain & simple
With Realtor you have an experienced professional representing who looks out for only your interests both legally and ethically.
Without a Realtor you do not have representation. The builder represents their own interests and not yours.
0 votes Thank Flag Link Wed Dec 1, 2010
Buying a home is usually one of the largest investments one makes in their life. The consequences of this can be staggering if you go into a business transaction unrepresented. The best part of using a Realtor is that it costs a buyer no money in most cases. Our community of professionals have gone through extensive training in both legal and ethical practices of business. An example of a reason to use a Realtor in your situation, at what point can you walk away from your intended purchase if they do not deliver on their promise? There are several "exit" strategies we, as professionals, would include into a sales contract to better protect your interests. The builder's agent is just that, an employee of THAT builder or company looking after the interests of their party. You would want someone that is not emotionally connected to the deal to be a guide to the path of homeownership. Think of it in this matter, when tax times comes around every year anyone can do their taxes, but professionals get a better result that is both legal and ethical. Same goes for Realtors, as professionals we know what, why, and most importantly WHEN to implement any needs or wants.

Hope this helps. Check out "Buying 101" on my site and the "Buyer Presentation" should clear up any questions you may have.

http://www.JRTeamSellsHomes.com
0 votes Thank Flag Link Wed Dec 1, 2010
The person you've been talking to at the site works for the builder/contractor. He/she is NOT looking out for your best interests. They probably convinced you that the 'Options" are worth the price. They're usually not. It sounds like you're pretty far along with the deal so at this point the builder/contractor may not agree to pay an agent for you. You can always check. If you don't ask, the answert is always 'No'!

Let me know if I can help!
Web Reference: http://www.jimmccowan.com
0 votes Thank Flag Link Wed Dec 1, 2010
Cindy is right, with new construction, it is usually required that the agent accompany you to "register" with the project. If you go without her and meet with them, it is likely that they builder will not honor the relationship, ie, pay commission.

With new construction, the primary benefit is that you will likely be able to negotiate a better base price, because you have a resource, your buyer's agent, that is working only for you.

Best,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Wed Dec 1, 2010
Ryan-when you say you have a tentative purchase price does that mean you have already been to the builders model, signed in and talked to the sales representative? If so that means that an Realtor® most likely can not help you at this point, except as a consultant to be paid by you.

On the other hand if you mean that you have been pre-approved by your own lender and have a price range in mind for a home then hiring a Realtor® to advise you on getting the best deal is a good idea. I put together a little booklet last year on some of the things to consider if you are buying new construction.

If you are in a position to bring a Realtor® in our your deal then hopefully this will provide you some helpful advise. Feel free to contact me if you don't already have an agent you plan to work with.

http://issuu.com/cijones52/docs/new_construction_buying4
0 votes Thank Flag Link Wed Dec 1, 2010
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