Should I Use A Realtor To Purchase A New Construction Home?
Cypress, TX is booming with new neighborhoods and new home builders. Almost 30% of all homes sold in Cypress over the past 6 months are new homes and this does not include new construction homes built "from dirt". If we had statistics on those builds, the percentage of new homes sold would be well over 30%.
So, it is not uncommon for us to speak to potential home buyers who tell us that they are looking for new homes in the area. It is also fairly common that these people tell us that they are not using a Realtor because they feel that they do not need one with a new construction home and/or they can get a better deal by not using a Realtor. Jim Mulholland explains why this does not make sense in the video below.
Using a Realtor For New Construction Purchase
In summary, here are ways a good Realtor can help a home buyer house when purchasing a new construction home:
- Explain the pros and cons of all options (neighborhoods, builders, floor plans, lots, etc)
- Home valuations / Resale
- Consult lot selection, home positioning, structural upgrades, front elevation, etc
- Negotiate home price, lot premiums, upgrades, builder incentives, etc
- Contract assistance (TIP: Builder contracts favor the builder.)
CONSTRUCTION / PRE-CLOSING / CLOSING
- Design center assistance
- Financing options (The builder's lender is not always the best way to go)
- Coordinate home inspections
- Conflict resolution
- Assist with the final walkthrough
- Review closing docs / answer any questions at the closing
- The builder's salesperson works for the builder and has the builder's best interest in mind
- Costs nothing to the buyer (builder pays buyer's agent commission)
- Historically, the median "Sales Price / List Price" ratio is less on new homes when a Realtor is used compared to those sales without an agent involved