Many buyers, especially first-time buyers, drive through brand-new subdivisions and blindly buy from the agent helping them there. Why not, when the agents at the venue are so lovely and cordial? On-the-take agents are expected to be charming communicators. They are adorable regardless of how attractive they are. To put it simply, they’re pleasant to be around. That’s why I’m a fan of theirs. Find out the best info about buyers agent.
Charming as they may be, most buyers are unaware that the agents working at the property represent the seller exclusively. As a result, there is no one to advise the buyers during negotiations, no one to make sure the contract accurately reflects the on-site agent’s verbal assurances, and no one to defend the buyers’ interests in the event of a dispute if the buyers do not involve their agent in the transaction.
Many buyers mistakenly believe purchasing brand-new construction negates the need for their agent. The structure of a house involves numerous subcontractors, each of whom may or may not do a stellar job. Cabinets and light fixtures may be installed a little off-center or crooked. It’s possible to miss a clause in the contract and end up with a square window instead of the round one you requested. You were an hour away from settlement on your new home when you noticed the installers had used the wrong wood stain on the floors. All of these things, and more, have occurred to me in recently built structures.
A recent experience reinforced my warnings about avoiding using a buyer’s agent in favor of dealing directly with the on-site agent.
I took some clients to a brand-new housing development. While my companion and I were helping ourselves with complimentary beverages like coffee and hot chocolate in the sales center, a couple approached me and asked, “Are you a lawyer?” I firmly told them, “No.” When I said to my clients, “I’m a Realtor. Want one?” they laughed, but these poor souls did not. A wake of mirth followed them.
A piece of their backstory was shared with me. The builder’s in-house lender informed them that the house wouldn’t be ready by the agreed-upon December closing date, so the closing was pushed back to January. They redirected their efforts as a result. They rescheduled the movers, their apartment lease extension, etc. The builder then started pressuring them around the middle of December to return to the original closing date at the end of the month or risk losing their incentive package. First, they had no say in the date change; they were forced to adjust. Second, revising their original plans would have been time-consuming and costly. The worst part is that the house still wasn’t ready. The final product did not live up to their standards. They were worried that nothing would be done about the problems once they moved in.
My heart went out to them. I apologized for my actions. Unfortunately, I can’t help you now; you should have hired an agent.
‘We didn’t know,’ they muttered resentfully.
I told them to write everything about all the help I could give.
The young couple could not have known their rights without the assistance of an agent. They had no idea how to safeguard themselves from abuse. They weren’t familiar with the standard procedure for dealing with problems like poor craftsmanship. It was their first time buying a house, so how could they know such details?
That’s why you, too, should work with a buyer’s agent when purchasing brand-new construction. How often does the typical homeowner buy a home, regardless of whether or not it is their first? Three? Five? Contrast that with the experience of a seasoned agent who has closed dozens, if not hundreds, of deals. It’s not a moot point.