Yesterday, I attended an all-day session on the topic of new home construction and representing the buyer. Buyers typically enjoy the idea of newly or yet-to-be-built homes because, for the most part, they can have a say in the layout and design process. It was a very informative class that I wanted to attend, as in my experience, there are a few buyers that still purchase a new home and do not seek the help of a REALTOR®.
I believe a REALTOR® plays a crucial role in the buying process, as we have a deep understanding of the marketplace and an already cooperative relationship with existing builders in our local markets. Buying in general is extremely unique to most buyers because of the vast amount of emotion involved in the purchasing decision and the excitement.
Although the topics discussed varied—as I thought prior to attending—one recurring theme discussed among the attendees was that of a select number of buyers who are under the impression that they can buy on their own. Without the help of a REALTOR®, my stance is those buying new homes are missing out on the support a REALTOR® can offer; such as flexible builder-related financing and varying deposit options. Many qualified buyers can negotiate directly with developers, but lack the experience and expertise to do so. Clients who are represented look to REALTORS® for their negotiating powers as well as their extensive background in new home sales. As REALTORS® knowing the true value includes the current market value of a home, projected re-sale price and whether or not, over time, it will be an asset.
Here is what our client had to say on buying a newly built townhome:
“I originally felt that when buying new, the service of a REALTOR® provided little value. Ian disproved my original assumption by having me consider characteristics of a home that I would have never considered otherwise. After living in my new home for little over a month, not only has the additional criteria by which I chose my home has given it more value, it has added to my enjoyment in my home’s location. Ian has made me a believer in the added value of his services.”
– Dan Mongeon, Client Since 2010
Dan wanted to purchase a new home with only one particular model, on one particular street, facing a park. In our discussions I was able to walk him through the process and aid in overseeing the development as a completed project rather then just a dirt road. We went on to further discuss the true value and I was able to assist Dan in realizing the potential for more of an enjoyable living environment, and potentially a higher re-sale price by purchasing a home backing onto a park. We ended up buying a new home, with the model he wanted and on the same street although backing onto the park.
When searching for new home construction without the help of a REALTOR®, buyers may make the wrong purchase decision on where to live. REALTORS® have more expertise and knowledge and they are eager to share in ensuring clients are satisfied with their purchase; not just for today, but for years to come.