Profile picture for tide88

Buying a home...

I'm buying a home from a new builder. Should I get my own real estate agent or deal directly with the builder's sales agent? What are the benefits of getting my own agent, if any?
  • April 07 2014 - Prince George
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Answers (8)

Dear tide88

Great question!  Here is the thing, builder sales reps represent the Builder.  Their ultimate fiduciary duty is to the builder and not You. Most often, builders will have their own contract forms.  

You want an agent who knows how to read between the lines and negotiate what is obvious and what isn't.You want an agent who has experience with the builder and help you understand how specific clauses, upgrade options affect you.  

       
  • April 14 2014
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Profile picture for descrs
It is always best if you have your own representation.  But be sure you work with a Realtor who has experience in new home construction and sales.  If you don't know what you are doing and you are buying a home that has not been completed yet, you could end up with a product you do not want.  It is difficult for  an agent to represent both a buyer and seller in the same transaction and be completely fair with both parties.  The first house I built, I went through the builder's agent.  I ended up with over $30,000 in change orders on the house in order to get what I wanted.  The second house I built, I had a little over $1,000 in change orders.  You must be very, very specific up front as to what you want in the house and make sure it is in the contract. 
  • April 08 2014
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If you are really interested in buying a home then the first steps to buying a home would be to speak with a lender that best fits your situation to get pre-qualified. Then when you do apply for a loan, lenders like myself will need to look at several different things if you are trying to get pre-approved for a loan. We will need to analyze your assets, credit, expenses, income, debt, employment, down payment, etc. Either way, the best thing for you to do is to speak with a knowledgeable lender to see if you can get started on financing a new home. If you need additional assistance, feel free to reach out. Good luck!
  • April 08 2014
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Always get your own representation. I have worked with builders on new developments for my buyers in the Bay Area. They work for the builder and your agent works for you, period! As a rule they do not discount on the price, but if you have a smart/savvy agent he can negotiate credits for you in closing costs/fees. And get you upgrades thrown in for the house at no cost to you.They always have some room, but if you do not ask or know what to ask for, you do not get it!! Good Luck!
  • April 07 2014
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Just FYI....

 You always always always want your "own" buyers agent. The builders are for themselves and agents who "work" for the builder, are of course, for the builder.

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Thanks
Kelly Smith
  • April 07 2014
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Profile picture for craigfial
If you have already been to the builder and registered, it's unlikely they will pay another agent to come in and represent you now. If not it's always a good idea to work with an agent familiar with new construction.
  • April 07 2014
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I have had site agents refer business to my team because the buyers wanted some kind of representation.   Our fees were paid by the builders from their marketing budget so it was a win-win-win-win.   It is seldom that the site agent is a realtor although they are licensed by the state.

  • April 07 2014
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Profile picture for Dan Tabit
Tide,
The site agents represent the builder in most cases and are obligated to get the best terms possible for them.  Builders as a rule don't like to discount prices, but you can negotiate better terms in other areas.  Having an experienced agent on your side of the transaction can help you.  There is no downside.
  • April 07 2014
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