Reasons to use an Exclusive Buyer Agent when Buying New Construction
Home builders market newly-built homes as if they offer worry-free living. While brand-new homes offer some advantages when it comes to energy-efficiency and modern amenities, they are rarely completely free of defect. Without the representation of an Exclusive Buyer Agent, a buyer could have a difficult time negotiating a remedy.
Most new construction consists of “production homes” that have similar characteristics, but customizable fixtures, aesthetics, and other finishing touches. Buyers who lack the representation of an Exclusive Buyer Agent could find themselves talked into expensive upgrades that do not add material value to the home.
Home builders have the goal of selling the home at the highest possible price with the most profitable upgrades. And while many lots may be available, a builder’s salesperson usually sells the less desirable lots first, saving the most desirable until a premium price can be commanded. This maximizes their commission and the builder’s profits. An Exclusive Buyer Agent will discuss the pros and cons of each lot with you to determine which lot best meets your needs and that will bring the best return to you.
The quality of new construction, and the home building experience, can vary greatly from one home to another, even within the same development! Materials get substituted, labor shortages happen. Weather gets involved. The timeline, final product and overall buyer experience may not live up to the builder’s promises. Meanwhile, the buyer has a lot of money on the table!
Your Exclusive Buyer Agent will:
1. Provide advice about plans, locations, elevations and finishes for the best resale value.
2. Negotiate upgrades and contingencies.
3. Negotiate the final purchase at the best price and terms.
4. Solve problems that can arise during the home building process.
5. Educate you about the home building process.
6. Save you money!
7. Provide you with pertinent information about the builder, development and community, revealing anything that materially impacts your best interests.
This is generally at no additional cost to you as home builders include real estate commissions in their pricing structure and offer an Exclusive Buyer Agent a share of those commissions. If you buy directly from the builder, they are not going to share the commissions with you.