We recently met with a realtor to begin searching for a larger home for our family. In doing, so the realtor told us about the buyer service agreement. We understand that in order for them to show us a home we need to have this document signed. However, we have not 100% ruled out going the new build route & because of this we requested that the realtor exclude new construction from this agreement. They have pushed back and said that they won’t work with us if we exclude new construction.
Now my question is … Is this typical? What value does a realtor bring to the table for new construction homes?
Question for Texas Real Estate Agents!!
byu/Total-Amount4987 inRealEstate
Posted by Total-Amount4987
3 Comments
Plenty of value!! Both with negotiating the deal and holding the builder accountable for timelines, issues that pop up etc. Remember, the builder rep is not your friend. You need an advocate. I go by all my new construction homes weekly to provide an update and keep an eye on things. A good agent can certainly be an asset in that transaction.
Use a lawyer and save thousands
I’d say it depends on the development, which release phase/stage they’re in, what the market is like, and the type of home. I’ve saved a buyer nearly $75k off a new build and one of the better lots just because I pushed hard on looking at their previous sales in that same development, which had introductory pricing for those that went under contract before the model homes were even ready and they made the deal because it was becoming a tough market everywhere. Another builder wouldn’t budge as much but got a decent design center credit. Also, do you know all the questions you need to ask? Will you be allowed to have your own inspector come out during certain stages of construction, especially the predrywall stage, (if you have Instagram, check out CyFyHomeInspections so you can see what I’m talking about), Do certain lots have lot premiums for being in a better part of the neighborhood? Everyone loves looking at the model homes because they’re so bright and open BUT someone needs to call out that recessed lighting is an expensive upgrade that otherwise makes the house feel dark and depressing. Does the contract state that the builder can increase the price even after accepting your offer if building materials go up? Have they already bought everything? Will the lot you want in the area you want be part of the first phase or will it not be built for another year? Will it have an HOA? I guarantee that they haven’t even set what the HOA dues will be not what’ll be in the CC&R’s. The first owners will also (very likely) be paying much higher dues until the rest of the neighborhood is sold and the rest of the owners are in. Now, that what I do and I’ve always been a bit more proactive than most other agents, I have no idea if those agents do any of that or just collect the referral fee/commission and let the builder sell you the house, so you need to interview them a bit more.