A common misconception when purchasing a new build property is that you don’t need an estate agent. Here are 9 reasons why you do:
- This is a big financial transaction. An experienced estate agent can give you objective professional advice and insight during all phases of the process, such as contract, construction, walkthrough, and closing.
- The salesperson at the show house who is so nice and so friendly and speaks your language actually works for the builder. Their job is to sell on behalf of the builder. They are there to look out for the builder’s interests, not yours.
- While the builder’s salesperson will give the appearance that sales prices, timelines, and conditions are non-negotiable, an experienced agent knows that is not always the case. If an agent brings the builder a lot of business, they may be more disposed to negotiate with them.
- For some builders, an estate agent actually makes things easier. The builder wants to build and sell homes. Not handle every aspect of the buyer for months after the contract. The salesperson will find it much easier to deal with another agent as opposed to directly with a buyer. The estate agents often handle questions and potential issues long before the site agent is called.
- When choosing specific options, a good agent will advise buyers to get features that will be difficult or costly to add later like an underbuild rather than the top of the line kitchen which can easily be done later. They also can advise you on upgrades that will give you the best resell value.
- An agent is familiar with the different builders and how they work and can help you decide which builder to go with by comparing the different incentives, prices, construction quality, and local surroundings.
- An agent will spend hours during the process making sure that the builders are fulfilling agreed upon terms and conditions. They will keep you updated on progress. This can be invaluable if you are buying abroad.
- An agent can be your best advocate if there are problems with your build. You are buying one house from the builder but your agent might be involved in dozens of sales. Because many builders depend on agents to generate sales, they seek to maintain good relationships with them.
- Using an estate agent costs you nothing. Most builders have allocated a sales commission to be paid to a buyer’s agent. When a buyer does not use an agent, the builder either pays their sales representative a higher commission or pockets the savings. It is a use it or lose it situation. Builders are happy to pay commissions because a good agent will remove hours of management and work from them.