New Home Buyers: Why a “Buyer’s Agent” is still your best protection, even in a “buyer’s market”

In the course of my three decades in real estate, I’ve represented a lot of new home builders from the seller’s side. My job was to get the best possible deal for the builder and still keep the new home buyer happy and content. As a seller’s agent, it was not my job to help the buyer negotiate the best deal for themselves. It was my job to negotiate the best deal for the builder. I could never understand why so many home buyers visit a new home sales center without realtor representation. After all, most builders factor in the commission of the buyer’s agent right into the base price of each new home. Now that I’m serving as a buyer’s agent, I can bring all my knowledge of the new home buying process from the sales side to the buyer’s side and give my clients the wise counsel they need to make the best decisions for their unique circumstances, and to negotiate the best deal for them. This is especially critical when they are about to make quite possibly the biggest purchase of their lives. Here are six good reasons to use a buyer’s agent when purchasing a new home from a builder.

• Remember, the sales agent in the model may have an incredible smile, a winning personality, and a pocketful of free upgrades but one fact is more important than anything else: he or she is working for the builder, collecting a paycheck from him, and looking out for his best interests first when negotiating the deal with you. By the way, this doesn’t take away from her ability to bake up a great batch of chocolate chip cookies for the kids.
• When you select a real estate agent, it is their job to get to know you, your unique circumstances and lifestyle needs. Beautifully decorated models and option-rich incentive packages can get you emotionally involved before you make a checklist of the pros and cons of the deal. Your real estate agent will keep you grounded.
• In all candor, you need the market knowledge that a buyer’s agent brings to the table. They know current housing values, the best neighborhoods and schools, and most important the track record of the builder.
• It doesn’t cost you anything to bring your own real estate agent into the negotiations. Most home builders have this built into the cost of constructing each new home they build. However, you need to have an agent before you visit the model the first time. They don’t need to be with you. You just need to give the information to the builder’s sales agent to place your realtor’s name on the record.
• New home contracts can be complicated and full of confusing fees. A buyer’s agent will carefully read through these mountains of documents and recommend the changes that keep the final transaction fair to you. Meanwhile, you can spend your time reviewing home features and options. Deciding between granite and tile in the kitchen is a lot more fun than reading a 100 page community association document.
• Finally and most important of all, you go to the bargaining table with an advocate, someone who will look out for your interests and craft the best new home deal for you.