There may very well be a licensed agent at the new construction site, sitting in the model home. But that’s not your agent…despite any disclosures or documents that they may go over with you.
You want your own agent. Someone third party, not affiliated with the builder. Someone affiliated with you and your interests.
Because this is about representation. Representation of you and your interests. Not just someone along for the ride and to sign a few papers and then swing back around and collect a commission check.
nd if you hire your own real estate agent, the agent has a fiduciary responsibility to you. They need to treat the relationship with care and trust. Look out for you and your interests.
But beyond that, they’ll help you understand the contract, and look for anything unusual. They might suggest some things to add to the offer and contract, like certain contingencies the builder may be trying to get away from including. They will negotiate on your behalf.
Your real estate agent will be able to help you decide between all of the options you have out there in the market. They will help assess the big picture. Maybe new construction isn’t the best choice for you. Maybe it is. Maybe this development is the best for you. Maybe it isn’t…
Do This First
Before you just stroll into check out a model home, find a real estate agent to represent you. (If you already have on, skip to the next section…)
Do not pass Go. Do not collect $200. Interview and choose an agent who will represent you.
If you find one that specializes in new construction, that’s a bonus, but don’t expect it or limit yourself to one that does. There’s more resale business than there is new construction in many areas. So a lot of agents aren’t going to be specialists in new construction. And that’s fine. You want someone sharp about the universal stuff, like negotiating, analyzing the deal, understanding the market, and you and your needs.
Then Do This
Now you can go check out model homes…
But don’t just wander into a development or model home on your own and have a look see.
For the first visit, go with your real estate agent. “Register” at the site, and reserve the right to representation by your real estate agent. (If you do not go with your agent on the first visit, it can be a mess trying to involve one afterwards.)
While you don’t technically need your own real estate agent, there’s certainly a lot of benefit to having one…and a lot of potential downside to not having one.