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Answers (26)
- Kimberly Shute, "Kimberly Shute"
- Contributions:35
I always recommend a buyer working with an agent even with new construction. The benefit is that a buyers agent will know what to ask for in new construction and if they are familiar with how builders sell their homes, they will have more negotiating success for their client.
It is hard for any agent to represent both sides and remain unbiased and in the end it the agent's purpose is to make sure their client receives as much as they can for the money they are paying and a listing agent will not be able to fairly serve a buyer in this way when their first responsibility is to their builder.
Plus, a buyers agent is free to the buyer and better to have someone advocating on your behalf.
Thank you,
Kimberly
It is hard for any agent to represent both sides and remain unbiased and in the end it the agent's purpose is to make sure their client receives as much as they can for the money they are paying and a listing agent will not be able to fairly serve a buyer in this way when their first responsibility is to their builder.
Plus, a buyers agent is free to the buyer and better to have someone advocating on your behalf.
Thank you,
Kimberly
- Gilda Baxter, "buying selling homes"
- Contributions:68
That pretty sweet thing across the desk at the new build homes represents the Seller. They will tell you that also. You do want an agent to represent you in the transaction. Your agent will keep their eyes and ears open. They will answer all your questions and go with you to the inspections. It's nice to know someone is watching out for You.
Hope this helps,
Gilda Baxter
Hope this helps,
Gilda Baxter
- Linda Strasberg, "L Strasberg"
- Contributions:2314
Are you aware of everything that is on the market in the same price range, new and resale? Do you think an experienced Realtor could be of benefit to you in your negotiations especially in today's real estate climate?
- Tracy Ponto, "TracyPonto"
- Contributions:3
- Maria Morton, "MariaMorton"
- Contributions:716
No, you never need a realtor to purchase a piece of real estate. Buyer's Agency was only created about 17 years ago. It is only for people who choose to have the same rights that sellers have. You can choose to go back to the old way of "caveat emptor" if you so desire.
- Barbara Irvin, "scbarb"
- Contributions:38
Without a doubt! The realtor representing the new home builder will have the builders best interest at hand. You need someone to best represent you.
- Regina Flores, "floresregina"
- Contributions:14
I say "Absolutely"! That way you know for sure your interests will be looked after as well as having an agent working for youonly.
- mbarealtor
- Contributions:29
Hootsalot, your friend did have an Attorney involved in the process, so they really weren't unrepresented. It was very smart of them to have someone that could comprehend and review the contract. It's better than going at it alone.
- Hootsalot
- Contributions:8
Maybe not. I know someone who did not use a RE agent and was fine. He insisted on an independent home inspection before closing. He also had an attorney review the contract and was very involved in overseeing construction. Ask around.
- Carla Muss-Jacobs, "PortlandBuyersAgent"
- Contributions:16
Why wouldn't you want to use an agent, would be my question. The home is a real estate purchase -- new or resale. The seller is going to want to get the best terms and conditions. No matter if this is a new construction, or resale.
I represented many people in their home purchase of new construction. In one instance the builder wanted to convince my client that the floor tacks at the threshold were 'normal' -- when you walked on them you would get stuck by the tacks! We negotiated that they fix this among other things!
EBA Portland is an Exclusive Buyers Agency serving the Metro Portland area.
www.EBAPortland.com
I represented many people in their home purchase of new construction. In one instance the builder wanted to convince my client that the floor tacks at the threshold were 'normal' -- when you walked on them you would get stuck by the tacks! We negotiated that they fix this among other things!
EBA Portland is an Exclusive Buyers Agency serving the Metro Portland area.
www.EBAPortland.com
- Nancy Schmidt, "RENancy"
- Contributions:237
You DEFINITELY need a Realtor! Your agent will be sure the builder goes according to plan. Everything that you ask for in the contract will be monitored by your Realtor. That person will be on top of each step for you. A Realtor safeguards the contract to make everything simpler for you, the buyer. You can lose money without a Realtor. There are so many things that can go wrong you definitely need your negotiator in the loop at all times during such a purchase.
Nancy
Nancy
- Nancy Schmidt, "RENancy"
- Contributions:237
You definitely need a Realtor! It is especially important with a NEW home because you want everything done as you request it in your contract with the builder. If you have everything in writing with a Realtor, that person will keep on top of things to be sure all is going according to the contract. Your purchase will be safe-guarded by the Realtor throughout the process. A Realtor makes everything easier for you, the buyer. Money can be lost without one.
Nancy
Nancy
- Andy Van Bueren, "Andy 2007"
- Contributions:6
Absolutely get a Realtor. The agent at the S/D represents the builder. You want someone to look out for your interests. And get someone that has a great track record for negotiating. As a Realtor, clients have told me over and over again they would have left money on the table.
Andy
Andy
- mbarealtor
- Contributions:29
ALL SHINY & NEW...and Problem Free?? Not So Fast!!
As a former new home Sales Consultant, I can't count how many times I sold new homes to buyers without real estate agents. My advice, "Don't Do It!! WRONG MOVE!!"
Those New Home Contracts are designed to protect the Builder. They do not have your best interest at heart. It's a Sales & Numbers Game. Every Monday, we had Sales Meetings and would learn how many homes we needed to Sale for that week, month, quarter, etc. We didn't once talk about if the buyers would be represented.
Of course the builder used BIG Bonuses to entice Realtors to bring us Buyers, but the majority of the time, the buyers would come, unrepresented and uneducated, to purchase a Shiny, New Home.
That's how a lot of people in the past two years got in trouble with those $0 Down, $0 Move-In Promotions. Everything was "Rolled-In" and that of course rolled the price of the home "Way Up." But that wasn't the builder's concern. Their concern was hitting their numbers and making money.
Get a Realtor. It doesn't cost you anything. And heck, the builder will probably be offering Huge Bonuses to the Realtor in order to get you to buy. But at least you will be represented and have an educated professional to look out for the your best interest.
That's one of the Main Reasons I decided to become a Realtor.
- real estate mike
- Contributions:2001
Wrong answer Ernestoe, agents do cost. The question is will a buyers agent save you money and help protect you legally and on costs? It depends on which one you choose to represent you. Do they have experience in new homes(proof?). What is the average price paid by this agents buyers paid versus builder asking price? There are many things that the seller might negotiate that a Realtor can assist you with. Also the Realtor should assist you to make the contract in your favor as much as possible.
- Ernie Hernandez
- Contributions:46
yes you need a realtor it doesnt cost you anything. its in the builders interest to protect himsef and pocket the commision if you dont get a realtor.
yes get a realtor please.
yes get a realtor please.
- Michael Eiden, "Michael.Eiden"
- Contributions:9
From a lender's perspective... find yourself a great realtor. Ask around... a good one is invaulable! Good Luck!
Best,
Michael
Best,
Michael
- real estate mike
- Contributions:2001
Can you negotiate sales price, builder concessions, and repair work needed that is found by your home inspector. Will you actually read the builders contract before signing it? Does their contract protect you or mostly the builder? What is the builders reputation and do they come back without court order to address fixes that were not installed or done exactly right. You could go it alone, but why bother.
- JohnGibbons
- Contributions:71
Here's the most important key... which most Buyer's don't know.
If you are interested in a property that is on a MLS, and you have a "Broker or Realtor" represent you, the cost to you is NOTHING! Seller's pay this fee.
Why not gain from the knowledge of a Realtor, to guide you through one of your biggest decisions in your life.
Builder's have made an art of 'wooing' Buyer's to their advantage. Be careful and read everything before you sign it.
If you are interested in a property that is on a MLS, and you have a "Broker or Realtor" represent you, the cost to you is NOTHING! Seller's pay this fee.
Why not gain from the knowledge of a Realtor, to guide you through one of your biggest decisions in your life.
Builder's have made an art of 'wooing' Buyer's to their advantage. Be careful and read everything before you sign it.
- MiddleMan007
- Contributions:1
Realtors are VERY necessary. Dont believe me? Ask a realtor, or an angel according to Nancy Lee.
But seriously, get yourself a realtor. They are very good at spotting costly problems a house might have. No wait, that's the house inspector.
But seriously, get yourself a realtor. They are very good at spotting costly problems a house might have. No wait, that's the house inspector.
- Amy McAllister, "amymcallister"
- Contributions:593
Whether you are buying a used home or a new one, having an agent representing you is best in my opinion. The builder is only representing himself, not looking out for your best interests. Having a good agent can often prevent many problems which otherwise could arise.
- NTETS, "Mr Caveat"
- Contributions:6436
if you are willing to do the legwork of finding the home, a good real estate attorney is the cheapest and best possible route...
for the 3-4 hours of work, there is no way that they will earn their keep
for the 3-4 hours of work, there is no way that they will earn their keep
- Nancy Lee, "An OrderLee Home"
- Contributions:1195
My last purchase was new construction. Without our agent's involvement the whole event would have been a super-expensive nightmare. Things came up that went way beyond just purchasing the physical structure. And she was able to both give advice and perform what amounted to miracles.
A good, experienced realtor is your safety net when huge amounts of YOUR money are in play. Interview, talk to references, find a strong safety net. Just in case.
A good, experienced realtor is your safety net when huge amounts of YOUR money are in play. Interview, talk to references, find a strong safety net. Just in case.
- Amanda Wilson, "WilsonAmanda"
- Contributions:1610
Yes, yes, yes...find an experienced realtor, please!
- Kimberly Kinville, "Oregon Specialist"
- Contributions:186
Your question made me think of an incident that just recently happened in our office. We had a first time homebuyer purchasing a new construction home. They were hesitant on having a home inspection since it was so new. We insisted and the home inspector found out that the duct work underneath the house wasn't connected to one of the vents going into the home. Instead the duct was heating the crawl space of a 2000+ square ft home. We negotiated for a repair.
It's always important to have representation on your side when it comes to purchasing a home. There is no cost to you to have Buyers representation. It is paid by the seller.
It's always important to have representation on your side when it comes to purchasing a home. There is no cost to you to have Buyers representation. It is paid by the seller.
- Jesse Knight, "Realtor_Online"
- Contributions:56
Yes and no. Technically you never "need" a Realtor to buy a home. However, I would HIGHLY suggest using a buyer's agent. You want your own personal representation. This is ESPECIALLY true when buying a newly constructed home. Builders are in the business of making money, not of representing you. Also, there are some very specific things to know about buying new construction. Builders must include a specific type of warranty (for lack of a better word). Never waive your right to a home inspection.
The last new construction home I sold needed nearly $8000 dollars of repair work. We found that out during the inspection. The builder had suggested that the buyer waive the inspection, "since it's a new home." I guarantee my buyers were very happy that they had representation.
The last new construction home I sold needed nearly $8000 dollars of repair work. We found that out during the inspection. The builder had suggested that the buyer waive the inspection, "since it's a new home." I guarantee my buyers were very happy that they had representation.
Do you need a realtor if you are only wanting to buy a newly constructed home?
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