When it comes to buying new construction, many homebuyers wonder whether they should hire a realtor or go it alone. While some people may feel comfortable navigating the process on their own, there are many advantages to using a realtor for new construction. In this article, we will explore the pros and cons of using a realtor for new construction.
Realtors have access to information that the average homebuyer does not. They can provide information about new construction communities, builders, floor plans, and pricing. Realtors can also help homebuyers understand the real estate market and how it may affect their purchase.
Realtors are experts in contracts and negotiations. They can help homebuyers understand the terms of the contract and negotiate terms that are in their best interest. For example, a realtor may be able to negotiate upgrades or discounts on the purchase price.
Realtors can provide expert advice on new construction. They can help homebuyers understand the pros and cons of different builders, floor plans, and communities. They can also provide advice on financing and the homebuilding process.
One of the main cons of using a realtor for new construction is the additional cost. Typically, realtors charge a commission of 3% to 6% of the purchase price. While this cost can be a significant expense, it is important to weigh the cost against the benefits of using a realtor.
Some builders may have restrictions on working with realtors. For example, some builders may require that the realtor accompany the homebuyer on the initial visit in order to be involved in the transaction. It is important to check with the builder to see if there are any restrictions before working with a realtor.
While there are some cons to using a realtor for new construction, the pros far outweigh the cons. Realtors provide access to information, knowledge of contracts and negotiations, and expert advice. While there may be an additional cost associated with using a realtor, this cost is often outweighed by the benefits of having an expert by your side. If you are considering buying new construction, it is a smart idea to work with a realtor.
