Why Should you have a buyer’s agent for new construction?
Builders don’t negotiate – FALSE. However, it is important to know when to negotiate, what points are negotiable, and how to do it effectively. As with many things in life, timing is key. Knowing when to pull the trigger on a new home and when to hold off can make or cost clients money. For example, it is common for builders to increase pricing between phase releases (even on homes from a previous phase that have not been purchased), so reserving a property the day before the next phase release and price increase can mean instant equity.
Buyer’s agents can’t be involved throughout the process – FALSE. Although most builders will not allow real estate practitioners to be involved during certain inspections and walk-throughs, there are plenty of points for involvement that can protect the consumer. Construction is organized chaos. With so many moving parts happening at the same time, it is easy for details to be overlooked and forgotten. For example, agents can help buyers keep a list of all their upgrades and custom features (including written documentation of all verbal instructions between the buyer and builder). During periodic construction walk-throughs, and especially the final walk-through, the buyer should have these lists handy to ensure everything was incorporated per their specifications. It is not hard for a construction crew to overlook installing a few additional electrical outlets. If the client has the proper documentation, the builder will not have an issue correcting the situation.
What you see is what you get – FALSE. There are always additional costs. Total acquisition cost is important to understand. Buyer’s agents can identify and thoroughly outline all the costs involved for their buyers to help them avoid surprises.