Why Home Buyers Need a Buyer’s Agent When Purchasing a New Construction Home
Selling new construction homes is a great way to expand your real estate business, but buying from a builder is quite different than helping clients buy a resale home.
Learn about the key differences in selling new construction, how to partner with builders, how to help buyers find their perfect property and more.
Spend time learning about the new construction market and selling process
Agents who want to sell new construction homes need to educate themselves on the various factors that make new construction unique. Some of the key things include:
- Residential construction methods
- Exterior and interior construction materials, such as siding types and flooring types
- Architectural design elements
- How to read blueprints
- Builder contracts, especially as they pertain to your buyer’s rights
If possible, find an experienced buyer’s agent who you can shadow. Getting this type of first-hand experience will fast-track your knowledge and expertise in the new construction niche.
Consider partnering with a builder to help them sell new homes
Many of the most effective new construction agents build mutually beneficial partnerships with builders. Some agents have even built their entire career working for builders, but note that certain construction companies may ask you to put your real estate license in inactive status to avoid potential conflicts of interest if you choose to work for them.
Expect to help your buyer negotiate
The builder’s sales team might give the impression that the final price of the home isn’t up for negotiation, but this isn’t always true.
Even if the builder refuses to budge on the price, you can still negotiate. It’s not uncommon for the builder to agree to upgrades in materials, landscaping or to pay the buyer’s closing costs.
Remember why new home buyers need your expertise
Some buyers think that purchasing a new construction home is as simple as walking into the sales office, choosing a lot and floor plan and signing the necessary paperwork. However, new construction transactions are more complicated than that.
Additionally, no one on the builder’s team is specifically tasked with representing the buyer and their needs. From sales representatives to employees of the construction company, these people have a responsibility to represent the builder.
It’s your job to educate buyers on the benefits of working with an expert whose primary objective is to protect their best interests. Point out the perks of partnering with someone who:
- Makes sure the builder contract outlines the buyer’s rights, including the deadline for termination of the contract without losing deposit monies.
- Knows how to secure more inclusions and other incentives from the builder.
- Is skilled at analyzing floor plans, blueprints, soil surveys and other important information.
It’s easy for buyers to have a false sense of security when buying a new construction home with brand new systems and appliances. But they aren’t immune to breakdowns – showcase your value by ensuring they’re protected after their manufacturer’s warranties expire with a systems and appliances home warranty from 2-10 HBW. Working with a real estate pro like you will save them time, money, headache and hassle when purchasing their dream home.
2-10 HBW offers comprehensive Systems and Appliances Home Warranties to help protect your clients from unexpected repair and replacement costs. Contact us to learn more.