Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
The main benefit of having an agent represent you on this type of purchase is they would be representing YOUR best interest. The other agent is representing the builder's. Plus, they can give you ideas of what selections you should or shouldn't make for resale value since we know what does or doesn't sell when resold. Builders only focus on new construction.
I'd also like to point out that your theory of there being a financial benefit for you when working with the listing agent instead of having an agent represent you directly is somewhat flawed.... most brokerages are going to require the same amount of commission regardless of whether the buyers agent is the same or not. Even if they do allow a discount in commission, you most likely wouldn't be seeing it in your pocket the way you think you would. It is difficult to truly represent both sides as strongly as you can when you are representing one. I'm not saying it isn't done and can't be done, but it really is best if you have someone that can work with you along the way regardless of the home you purchase.
If you have an agent working with you and showing you multiple homes, they will get a better idea of what REALLY works for you too and be able to find you the best fit and deal for you and will truly be able to represent your best interests. If I have a buyer interested in one of my listings and they like it, I still know that to truly represent their best interests, we need to go out and look at some comparable homes to establish the value the home has to offer.
Good luck, and I REALLY hope you decide to work with one agent. I'd be more than happy to discuss how I work and the process as a whole if you want someone looking out for YOU. And I have several happy buyers I've worked with that could give you a reference and reason to have one agent too. :) Even some that we looked at multiple homes and ended up working through a spec home in the end.
Great questions. While every situation is different, most people are not experienced or knowledgable enough to negotiate their own real estate deal. That may or not be your situation, but my guess is that you'd be well served to utilize the services of a Real Estate Agent...especially given that this is your first real estate purchase.
I recommend that you consider hiring someone you trust, whether you're buying an existing home or considering building something new. That person then becomes your advocate for the remainder of the process. Their duties include being obedient to you, keeping your personal information - including your motivation and budget - confidential, and being loyal to you and your needs.
Here's a podcast I did a while back that might help you understand my perspective.
Good luck in your search!
Principal Broker, REALTORÂ®
MacDuff Realty Group, LLC
I have to blog post you might want to go read. The first one was posted today it shows a return on investment in buying a home and the top 4 reasons to buy a home.
You might have to cut and paste the link: http://indybpteam.info/
I also have a short video that talks about effective interest rates and how a Realtor can get you an effective rate of under 3%. Good luck on your decision and have a Happy Thanksgiving.
We are not nearly as effective in representing you or the seller's needs when we are acting in this capacity.
Your benefits are far outweighed by the benefits of having your own agent.
As far as using an agent to help you buy a home that is a spec, or new build....
I would still recommend using a Realtor only because there are no additional costs to you. Your agent should actually come up with ways to protect your interests and possibly point you in directions that could save you money.
Hope this helps! Best of luck to you in buying something!
You need a real estate agent to go with you to view model homes and register that agent with the builder so that the agent can help you. You need representation. You need someone that is working for you. The people that are working at the model homes are selling homes for the present. You need to have amenities in your new home that will help it sell in the future. An agent that works in selling existing homes can give you the best advice. It does not cost you any money to have an agent represent you. The home builders always has a commission already build in to the price of the homes that they build. The builder pays the commission you do not pay it.
As far as looking at existing homes, you should use one agent. There is not any monetary advantage to you to use the listing agents only. The listing agent has a contract signed by the seller that already states what commission will be paid upon the sale of the home.
I would be glad to help you for both with new or existing homes. My name is Donna Massey-Trinkle 317-443-8110