Recently, I met with a buyer in my office, as I normally do.  I generally like to have this first meeting with the buyers to answer any questions they may have on the homebuying process, the contract, the lending process and to get a better idea of just what they may be looking for in a home.  One of the questions they asked was:  should I use a buyer agent to help me if I decide that I want to build a home rather than buying a house that was already built! 

When asked a question like that, I don’t like to just say “Yes” without any reasons why I think they should use a Buyer Agent for new construction!  As a buyer, whether it is your first home or your tenth home, there are many good reasons to have your own representation when working with a builder.  Why?  Because the person you meet at the site is working for the seller!  And keep in mind that, at least in Richmond VA, many times the person at the site is an employee of the builder and is not necessarily a licensed agent!  In fact, several of the larger builders here actually make a licensed agent give up their licenses in order to be a site agent at their sites! 

So how did I answer this buyer’s question, which is a good question and one that every buyer out there should ask their agent?  Here is my top 10 reasons why every buyer should have their own Buyer Agent when building a new construction home!  Of course, this list is certainly not comprehensive, but I think it is the minimum duties that a good Buyer Agent should give their clients who are thinking of building a new construction home!

First ---   a good Buyer Agent will assist their buyer in evaluating all their alternatives to a particular new construction neighborhood.  A good Buyer Agent will know what their clients are looking for in a home – quick closing, a particular price point, certain location & schools, certain neighborhood amenities, etc. and will be able to offer advice to their clients that a site agent may not be able or willing to offer them, or the client may not be able to get on their own!  This helps the buyers make better & more informed decisions on their housing choices!

Second --- a good Buyer Agent will help the buyer with their selection of a lot!  If a buyer chooses a lot that appears to back up to a wooded area, will the site agent know or inform them of what may be going into that area in the future?  Will a particular lot have better resale impact?  These are some of the questions that may arise when a buyer is looking at a number of lots to choose from within the neighborhood!

Third --- a good Buyer Agent will help the buyer with their selection of options!  For instance, maybe it is better to have the home pre-wired for ceiling fans throughout but possibly not having all fans installed by the builder!  A good Buyer Agent will know the area and the market and also the financial comfort zone of their clients & can help assess which options are best left till after closing or should be completed prior to closing by the builder!

Fourth --- a good Buyer Agent can help with negotiations between the builder and the buyer!  For instance, some builders will hold firm on their pricing, but a good Buyer Agent may be able to negotiate some free upgrades & options!  Other builders may be more flexible on the home’s price & a good Buyer Agent may be able to negotiate a discounted price for their clients!

Fifth --- a good Buyer Agent can help to answer any questions their clients may have on the builder’s contracts and/or addendums.  In this area, most builders have their own contracts or at least addendums that need to be attached to the standard resale contracts we use.  However, these are generally skewed in favor of the builder.  If a buyer has not done this before, they may become overwhelmed by what these documents are saying.  A builder’s site agent may or may not be able to answer any questions that arise from these documents.

Sixth ---a good Buyer Agent can help their client with financing.  Many times a builder will offer special financing as long as they use the builder’s preferred lender and attorney!  But is this always the best things for your buyer?  That will depend – and a good Buyer Agent can help their client make that determination!

Seventh---a good Buyer Agent can check on the progress of the house as it is being built.  Sometimes a buyer will not be able to come out to visit the home while it is being built, or even if they do come out to see the home during construction, they may not know what they are looking at.  A good Buyer Agent should have knowledge about how the house is constructed & may be able to make sure that things are being done properly!

Eighth --- a good Buyer Agent can document & resolve any issues that may come up from the time the contract is written to the time the house is closed!  Keeping in mind that the site agent will be representing/working for the builder, it should be a nice comfort to the buyer that if a problem does arise they have someone to turn to who is on their side!

Ninth ---a good Buyer Agent will be able to attend the pre-settlement walk through & assist with preparing any punch list items that need to be taken care of prior to closing!  This could be anything from recommending home inspectors to being at the walk through and looking critically at the finished house & ensuring that all items which need to be fixed are taken care of prior to closing.

Finally --- a good Buyer Agent will be able to review the settlement statement to ensure that all the figures are correct!  And the Buyer Agent will attend the closing to make sure that the closing goes as smoothly as possible!

I’m Barbara A. Reagan

 Whether Buying, Selling or Downsizing – Service Above & Beyond!

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Barbara A. Reagan – ABR, GRI, ePro, CRS, SFR

Long & Foster Realtors

Serving – the City of Richmond, Henrico County, Hanover county & Chesterfield County!

Call or Text me at 804-869-1191