You might believe you don't need your own REALTOR® when buying pre-construction or new construction homes, but then who's there to protect your best interests? Most builders and developers have an on-site representative, usually a REALTOR®, who can take care of all the paperwork and who will say they can do everything for you themselves, but this representative also has the builder's goals in mind - to make the sale! Buyers should have their own agent involved to increase their advantage, protect their interests, and for guidance and support.
How does a REALTOR® simplify buying new construction?
A REALTOR® simplifies a new construction purchase, which is more complicated than buying resale, by bringing knowledge of the development, neighbourhood, construction materials, and sales and market data. They streamline your search with full access to a portal and notification system from REALTOR.ca and other sources, know builders' reputations for meeting deadlines and following up on issues, and can advise on the best time to buy, whether pre-construction, mid-construction, or after completion.
Buying a new construction home can be a lot more complicated and involved than purchasing a resale home. An experienced agent who understands the development, neighbourhood, construction materials, and sales and market data will be of great benefit to a buyer. An agent will also greatly enhance your search process, saving you time and effort while also providing full access to a search portal and notification system from REALTOR.ca and other sources. Agents also know the reputation of builders, how they meet deadlines, and how they follow-up on issues. Agents can also offer advice on a good time to buy, whether during pre-construction, mid-construction, or after the building is completed and may also have information on upcoming promotions or other development areas.
Can you negotiate with a home builder?
Yes, and a REALTOR® working for you will negotiate with the builder for the best terms, features, and upgrades while helping you understand all the fine print in the purchase agreement. A skilled agent can also spot the upgrades and extras that may not be worth what the builder would charge, and help you decide which are worth including or excluding.
A REALTOR® working for you will help you to understand all the fine print in a purchase agreement and they will negotiate for the best terms, features, and upgrades. A skilled agent can also spot the upgrades and extras that may not be worth the cost the builders would charge and they can help with the decision on which might be worth including or excluding.
Can a REALTOR® help you get a better price?
Not usually on price alone: builders price new homes very carefully and the purchase price is not typically negotiable, because other buyers can see the history of previously sold similar homes and would expect the same price. Skipping your own agent won't earn a discount either, since builders avoid subtracting the commission and setting a price precedent, and because the seller usually pays the buyer's agent commission, working with your own trusted agent makes the most sense.
Consider this: builders and developers price their products very carefully and the purchase price for new homes is not typically negotiable because other buyers will be able to see the history of previously sold similar homes and then expect to also be able to purchase the home at that price. Buyers are sometimes led to believe that by not using their own agent to buy a new construction home that the builder will subtract the potential commission from the purchase price, but this risks setting a price precedent on that model of home and builders generally prefer to avoid this. Since the seller usually pays the commission for a buyer's agent, it makes the most sense for you to work with your own trusted agent.
What guidance does a REALTOR® provide during the build?
During the build, a REALTOR® guides you through the multiple steps and stages before closing, including decisions on the design, electrical, and construction of the home, plus dealings with financing, home inspectors, contractors, appraisers, and alterations. Having that support through the entire process makes buying a pre-construction or new construction home less overwhelming, a lot easier, and helps ensure all your needs are met.
There are multiple steps and multiple stages to navigate with pre-construction and new construction homes as well as interacting with many people involved in the process before closing. Decisions may be needed on the design, electrical, construction of the home as well as dealings with financing, home inspectors, contractors, appraisers, alterations, etc. Working with a trusted REALTOR®, who can help guide and support you through the entire process, will make the process less overwhelming, a lot easier, and ensure that all your needs are met. Read a few great tips here.
A Trusted Agent
When buying pre-construction or new construction homes in Winnipeg or the surrounding areas, you can count on me to be your trusted REALTOR® - Andrew St. Hilaire Winnipeg REALTOR®.
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