Did you know that Dallas-Fort Worth actually leads the nation in the number of new houses being built? This is a result of the influx of all the new workers for Toyota, JPMorgan Chase, Liberty Mutual, Raytheon and so on and so on. Builders are helping out our inventory by ramping up their construction. With so many builders, one may ask “Do I need a Realtor to purchase a new home?” And the answer is YES!
Builders have sales reps, can’t they help me?
The answer is yes they can help you BUT there is a huge difference. Builder sales reps represent the builder as they are contractually obligated to do. The sales rep can help explain the different floorplans, elevations, lots available, upgrades, specials, etc. Realtors are trusted resources and can help you navigate between the different builders and the complexity of the home buying process. They buyer agency agreement you have with your Realtor ensures that he or she will represent your interests alone.
What is the Fiduciary responsibility of my Realtor?
You are the number ONE! You have an expert who is looking out for YOU and your best financial needs, an expert that is contractually obligated to protect you. Those new construction contracts can range from 25 pages to 100+ pages long and your Realtor can help you understand specific clauses, riders, and upgrade options that affect you and make sure you understand what you need to before you sign the dotted line.
Can my Realtor negotiate a better deal?
YES! Remember that there are many builders out there wanting you to build a new home with them. A Realtor knows all the many ins and outs of the different builders and what all they have to offer and the outcome. If your Realtor has sold new construction homes to past clients, they can share those experiences good and bad. A Realtor can negotiate price as well as special items into the contract that you may not have considered like ceiling fans, extra electrical outlets, etc.
How is my Realtor involved in the building process?
Signing the contract is just the beginning. You must also have to get your financing in order, work with title companies and attend many inspections throughout the construction. A Realtor can manage the process and can attend inspections with you to ensure that you are not missing anything during each phase of the build. During your final walk-through, otherwise known as your blue tape walk-through, a trusted Realtor can help you see items the builder may have missed and stand up for you in getting those items taken care of in a timely manner. They will have your back!
So a Realtor does all this with no cost to me the buyer?
That is correct! The seller/builder is responsible for the agent’s commission. With no money out of your pocket, you will have the comfort of knowing you have someone obligated to you and offer an extra layer of protection, most of all you will have peace of mind!