a Common question we get asked after, “how’s the real estate market” is, “do we have need for a Realtor if we’re thinking of having a New Home built”?
And, by all means yes, just for the simple reason of having someone protecting your interests. However, there are multiple reasons for engaging a real estate professional working for you and your newly constructed home.
To start with, seek out someone well versed in construction details and principles, not necessarily an engineer but someone who knows the building process, the grades of construction and interior finishes. Knowing the language of “Builder Speak” is a significant plus as well as the capacity for reading and interpreting blueprints and site plans; there is much data to scour over and most times the purchase contract references these types of plans and schedules and we all want to eliminate unintended consequences.
A New Home professional worth his or her salt will be able to help prevent or resolve any misinterpretations you and the builder may have and one who is experienced with the building of new construction in the particulars will keep the builder’s team honest, this is not to say builders’ are dishonest. New Home construction has expectations and those expectations need to be reconciled for the transaction to succeed for both you and the builder.
The builder or builder’s representative does not work for you. They are there to make a profitable transaction for the builder, which is ok, however you need the expertise and professional representation to make your acquisition an equitable and successful experience for yourselves.
New Home Construction Contracts are quite different than standard real estate contracts and have many clauses that favor the builder with timelines for the exercise of certain actions on the part of the buyer including, but not just limited to exterior and interior finish selections. The word “change order” is often a sweet sound to the builder. It’s critical to get the proper pricing and credits. Sometimes this can be like finding “which cup is the peanut under”.
Builders seldom negotiate on price, not to say that it can’t be done (we’ve done it), but it is not the norm. This doesn’t mean we can’t secure substantial concessions or trade budget amounts for items more important to you. Perhaps it is the end of a fiscal quarter and the builder needs a sales push in order to reach sales goals or meet their own lender and investor expectations. Or, maybe we are approaching the end of the year or holiday seasons and builders know that sales are going to be slower. With our experience we can get creative with negotiations and look for discounts on premium lots and upgraded finishes and fixtures, or potentially get the builder to cover a significant portion of closing costs. We know when to buy and take advantage of builder-offered incentives
Purchasing new construction is usually more complicated, intimidating and a longer process, usually 7 to 8 months. And, requires planning, coordination and knowledge for the buyer to maximize the benefits and value found in New Home Construction.
The services of an experienced New Home Construction professional may cost you nothing and save you thousands of dollars, not to mention a headache or two. Registration of your New Home Construction Realtor on your first visit to a development is often required by the builder or on-site representative, and enlisting the services of a Realtor after you have registered can become complicated. Many New Home buyers believe they can receive a better deal from the builder if they don’t have representation because the builder will not have to pay a commission to a Realtor. The fact of the matter is that builders have already included sales commissions in their marketing and sales budgets and will not reduce the price because you are working without the services of a Realtor, it just means additional profit for their bottom line. With this practice in mind why would you not want an experienced New Home Construction professional protecting your interests and assisting the management and building of your New Home.
When it comes to steering through the New Home Construction buying process there a few real estate professionals who have the experience of Robert M. Tully Real Estate. With 20 years as a Design / Build General Contractor building Custom Homes, Professional Office Buildings and Churches, Robert has the knowledge, experience and perspective of how builders and the building process works and is uniquely qualified to serve you and your interests as your new home representative.
To learn more on New Home Construction or B-I-Y (Build It Yourself) please be at liberty to contact Robert at 404-319-9212 or firstname.lastname@example.org