For many home buyers, new home construction makes sense. Many people love the feel of a new home, with fresh paint, brand new flooring, and not a scratch anywhere on the woodwork. Not to mention they can often have the house custom built just for their needs.
But do you need a Realtor to help you with new construction? Why can’t you just buy directly from the builder? Won’t that save you money since the builder doesn’t have to pay the Realtor a commission?
It DOES make sense for most buyers to work with a Realtor when purchasing a brand new home. Below are answers to these questions and more.
Q. Why do I need a Realtor to help me when purchasing new construction?
A. An experienced Realtor understands the building process and what is expected during new construction. They can help you negotiate with the builder and work through any problems that might arise. A Realtor will guide you through the paperwork and ensure that you are protected during the transaction, and watch out for YOUR best interests. A good builder will want to take care of their clients, but in a pickle they will naturally look out for their best interests.
Q. Will it cost me money to work with a Realtor?
A. No. My fees are paid by the builder and are already calculated into their cost of building a home. All builders understand that they must work with Realtors to be successful, so they figure in the cost of the Realtor when estimating the cost of building a home.
Q. Can’t the builder give me a better price if they don’t have to pay your fee?
A. In nearly all cases the builder WON’T give you a better price or “cut you a deal” when working directly with the builder. As mentioned, their fee to the Realtor is already figured into the price of the house. If they “cut you a deal” on your house, it impacts the price of their other homes in the area that they DO sell through a Realtor. It hurts the comps of the neighborhood and ultimately lowers the price of all future homes they sell, including the ones through a Realtor. So it is in a builder’s best interest to keep the price the same whether they sell through a Realtor or not. If they can sell direct they can pocket more money, but you seldom if ever will save any money.
Q. What will a Realtor DO for me? Don’t I just work with the builder and you make all the money?
A. An experienced Realtor will help you in many ways. We can help you with negotiating the best price and add-on’s for the property. We understand the challenges of builders and know where they can sometimes “give” on amenities such as fences, marble countertops, landscaping, and other add-on’s. We ensure that the contract you sign is fair to both parties and meets the standards of the Oklahoma Real Estate Commission. If things get sticky with your builder, we can act as an unemotional buffer to smooth things out and ensure a happy home purchase. We also know your rights if things don’t go well and your options in case you are not happy with the build. We ensure you get a home inspection from an independent inspector to ensure everything is working properly and installed correctly by the builder and his/her contractors.
An experienced Realtor is YOUR advocate during the construction process. And it doesn’t cost you any money at all.