QUESTION: I know you recommend home buyers have their own buyer’s agents, but when buying a brand-new house in a new subdivision that has model homes and a sales staff, should the buyer still have a buyer’s agent?
ANSWER: You definitely need a buyer’s agent when buying a brand-new home. A savvy buyer’s agent can advise you the pros and cons of a subdivision and the specific homes, including the builder’s reputation. That’s something you won’t hear from the builder’s salespeople who represent the builder.
I can go either way on this. Certainly, one of the ways in which a buyer’s agent helps you is by seeking out properties you might like. If you’ve already found one, in a new development, you might not see the value of having an agent.
An agent does other things for you, though. An agent will know a lot about the neighborhood, about the developer, about the development. An agent will provide you with comparable sales in the area, so you can get an idea of whether the developer is listing properties close to the overall market. An agent will help negotiate a good deal for you. An agent will be your liaison between you and the developer, during the months between P&S and closing.
You can try to negotiate the sales price down by the amount your buyer’s agent would be paid by the developer, but most likely, you’re not going to save a lot of money.
Regardless of who is selling the property – FSBO, developer, or seller – you should use an agent to protect your own interests.
More: Does A New Homebuyer Need A Buyer’s Real Estate Agent? – By Robert J Bruss, Inman News, by way of The Boston Globe
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Updated: 1st Quarter 2018
