Richmond Hill- Representing The New Construction Buyer

Richmond Hill GA Real Estate

Representing the New Construction Buyer

As a Realtor, our job can be complex or simple. We can represent the seller, a buyer, we can be a transaction agent only, and we can give advice. It’s understood there are certain times that a real estate agent’s knowledge and expertise comes in to play, such as representing a first time home buyer on their very first purchase. One valuable representation is representing a buyer through the purchase of a new construction home, whether you are buying a spec home on the ground, completed or near complete, or representing a buyer on a custom build from start to finish. Most of the time even a seasoned buyer may have purchased only one or two homes in their lifetime so the process of building a home probably will be foreign to them and your knowledge and expertise will be much needed.

Things that you should consider when representing a buyer for a new construction home –

· How financially strong is the builder?

· Does he or she pay their bills on time?

· How long have they been in business?

· What about their follow through? Do they come back and finish punch list items on a home?

· Who will we be dealing with during the construction of the home? The builder themselves or a superintendant?

· What are the builder’s walk-through policies?

· Is the builder open to independent home inspections prior to closing?

· Does the builder have references? Other homeowners that he’s built for that we can go see their homes and ask their opinion on their experience with the builder?

Let’s don’t forget a very important one –

· How much will the builder pay you, as a real estate agent, for representing a buyer? Does the builder have his own representation?

A couple things to think about to make the transaction go by smoother – A lot of times the builder and the buyer in what I call “the honeymoon phase” when they’re meeting, discussing and planning out the start of construction. The relationship could not be any better early on but one person’s vision might not be the other person’s expectations. So as a real estate agent, being present at all meetings and being that extra set of eyes and ears, taking good notes, is critical in buyer representation of a new construction home. Trust me, you’re going to get a question similar during the process “What kind of mailbox are we going to have?”, or “Is the builder going to plant any trees in the yard?”, I counsel my buyers who I represent during the build of a new construction home that most builders are ego driven (in a good way), if we kill them with kindness when that surprise pops up such as the wall is in the wrong place, or that’s not the hardwoods we picked out they are more apt to come in and help us to try to make us happy.

The process can be very rewarding and very challenging. It will make you a better real estate agent by being part of the process.

Representing The New Construction Buyer