austinareanewhome.com

Specializing in new home inventory in the Austin Texas area.

Jun 2016

Why you need an agent when buying a new home.

I was recently hosting an open house in Manor, Texas when a perspective buyer asked me to explain the process of buying a new home to him.  He went on to say he assumed you just went to the sales office and talked to the on-site sales agent for the builder.  You can do this but you are selling yourself short, literally.  Here's why....

When purchasing a new construction home from a builder, the price of the buyers agents ( the agent representing you the buyer) commission is built into the price of the home.  In addition, the price of the home is "non-negotiable" or "haggle free".   This means to the buyer, the agents services are free.  There is a myth out there that a buyer can get the builder to come down on the price if they do not use an agent.  This would be unethical and is not the case.  A $250,000 new home sells for $250,000 period.  There may be builder concessions available during certain times of the year, but for the most part the price is what is listed.  This can be good in a competitive sellers market since the buyer will not have to compete with others to purchase the home and will not have to bid or offer higher than the price listed to get the home.

This means it is essential to the buyer to get representation by getting a buyers agent.  This ensures the buyer is getting the best deal, is not overpaying for the house and is getting the house in optimal condition.  A buyers agent will help you negotiate the price of the home.  Remember those builder concessions I mentioned earlier?  A good buyers agent knows about them and if they are available for the home that you are interested in at the time.  The Agent also knows all the inventory in the area.  There may be a bigger home of higher quality that is less expensive just a few miles away at another builders community!   Once you get under contract for the home you want, a good buyers agent will accompany you to the "walk through".  This is a scheduled time set aside to meet with the builders representative to walk through the house and make sure everything is completed to the buyers satisfaction.  This is where you make sure any scratches in the paint or any other imperfections are noted and scheduled to be taken care of. A good buyers agent that is trained in new construction knows what to look for that the buyer may not be aware of. 

Finally and most important, a buyers agent will accompany the buyer to their closing.  This is where you sit down with the title company and sign all that paper work.  There are many line items in many pieces of paper that you will need to sign.  Your agent will know what they are for and will know if a cost is too high or does not look right.  An educated buyer will know to take advantage of a good buyers agents services and will end up in the best new home in their price range.
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