Should You Use a REALTOR When It's A New Home in Kokomo?
Should you use a 'buyer's' agent when buying a new home?
You betcha'!
Why? Because the job of the builder's representative is to get the best possible price and terms for their boss ' the builder.
When you have a REALTOR in your corner, your agent's job is to get YOU the best possible price and terms. For instance, your agent will:
Help you get pre-approved even before you walk into the subdivision office so that your negotiating position is as strong as possible.
Know the builder's history and reputation particularly with regard to post sales service and warranties. This is important because even the best constructed home will have problems that only show up after you've lived there a while.
Will do a comparative market analysis of the local area, so you will have a good idea about a home's value before you walk into the model.
Know about any problems with the subdivision or the area that may not be known or may not be mentioned up front by the builder's representative.
Know about the resale of homes in nearby or even in the same subdivision that will affect your negotiating position.
Know about special incentives such as upgrades that may be available but won't be offered without negotiations.
Know if the builder stands to benefit by closing out a particular segment by the end of the current quarter or year or if there are other conditions that might strengthen your negotiating position.
Review the contract to make sure your interests are protected and that there are no misunderstood provisions.
Follow the transaction through closing, assuring that everything is being done according to the contract and in a timely manner.
Be with you when you select your upgrades.
(NOTE: It might be better for you to spend your upgrade allowances on landscaping, closing costs, etc. rather than often inflated builder upgrades. With the money saved you can shop for items such as carpet, drapes, etc. on the open market.)
Very Important...
Most builders will pay your buyer's agent real estate fees only if your agent is with you when you first register. That means that if you're "just looking around" on your own and don't take your agent with you, you may end up missing out on having your own representation in your purchase.
If your agent accompanies you to register you on your first visit, your exclusive representation costs you nothing. In fact it usually means that you get much more value in upgrades and possibly much better terms than if you left the details of your purchase to the person who is working for the builder.
Remember...
Resist the impulse to "stop in" to look over a subdivision unless you go with your own representative!