Selecting a representative for new construction is important for both the builder and the buyer. But, for our interest, we are going to highlight why buyer’s need to invest in a good representative.
First, a builder’s rep works for the builder on behalf of the builder. They likely work in the builder’s office, and they don’t have to be a licensed real estate professional or REALTOR. Their job is to sell the homes in the best interest of the builder.
So, if the buyer doesn’t have a representative of their own, who will be looking out for their best interests?
That is why buyer’s should hire a real estate professional of their own. Buyer’s agents will schedule and accompany buyers on visits to the new construction site. Viewings and contact talks are scheduled through them.
A lot of builders have strict policies about the compensation of a buyer’s rep. For your real estate professional to be compensated from the seller’s proceeds, they must accompany the buyer on the first initial visit. They need to come to the site with
the buyer on all other visits as well to take notes, ask questions, and make sure all your needs are met and questions are answered. One of their many jobs is to make sure the builder’s promises to the buyer are kept.
A buyer’s rep also helps with the contract. If the house is already completed there are not a lot of decisions that still need to be made therefore the contract is pretty straight forward. If the house is still in the building process or starting from
the dirt, the contract gets a little trickier. A buyer’s real estate professional should be reviewing the contract and contingencies with you and the builder’s representative, so everyone is aware and on the same page. They will be key dates and
deadlines that go along with the building process, and your real estate professional is best at knowing and reminding you of them. These include selection deadlines and earnest money deposits. Whether the contract is for a finished home or the start
of a building process, the buyer’s rep should always look it over before the buyer signs anything.
Take away – A buyer’s rep is working to protect the buyer. They will make sure the buyer is getting everything you asked for and agreed to. Through the entire process, the buyer’s best interests are the rep’s number one priority.