Before You Visit a New Home Community

Do Not Visit A New Home Community
Until you have consulted a REALTOR!
Are you finally ready to realize your dream of having a new home built? Have you been reading the weekend newspaper salivating at the builder ads? In your mind, do you already have the prefect Travertine tile selected to match the custom counter-tops in your fantasy kitchen? Have you spoken with a Realtor® to ensure YOU are going to have representation when you make your new home purchase?
If you answered yes to all of the above questions except the last one, you might want to reconsider making what will probably be the largest purchase of your life. The largest purchase of your life. I cannot say that enough. If you plan on strolling into the sales office at a new home development without a Realtor®, you are giving up your rights to representation. The agent working in a new home development represents the seller (in most cases the builder) not you. You are not saving any money by not using a Realtor®.
Let me clear up a common misperception. Many people believe the buyer pays the brokerage fee (commission) to a Realtor®. In almost all cases, including the purchase of a new home, the Brokerage fee is paid by the seller. The buyer does not pay anything to the Realtor® for the work done. I say in most cases because there are occasional times when the buyer might elect to purchase a “for sale by owner” home where there is no fee offered to the buyer’s agent. On these occasions, the buyer will typically pay a brokerage fee to their agent for representing them in the transaction.
Basically, what this boils down to is, as a buyer you have at your disposal a Realtor® who acts in your best interests, helps locate properties, drives you around to view those properties, consults with you on the best choices, writes the contract, arranges escrow and inspections, remains in constant contact with the seller’s agent, the loan office, the title company, and you, ensures all of the required documents are in order, and coordinates your closing. At no cost to you, the buyer. Yep, at no cost to the buyer.
In what other arena can you transact business using a trained professional who is acting in your best interests and pay nothing for that service? Realtors® do not get paid until the transaction closes. So if you purchase a new home, wisely having a Realtor® represent you, not only do you have someone looking out for your best interests, but the Realtor® is happy to do so knowing that until your transaction is complete (it can now take 9-12 months of more for a new home to be built) that Realtor® is not going to be paid a single cent. If you purchase a new home without a Realtor®, you are doing so without being represented in the transaction. There is no one looking out for only your best interests.
Please, keep this in mind when you are ready to make your next home purchase. There is really never a good reason not to represented by a licensed Realtor®. Copyright 2004-2006. Tracy Thompson is a member of the National Association of Realtors®, The Arizona Association of Realtors® and the Glendale Board of Realtors®. To find out more about home buying and selling, contact Tracy at 623-326-0597 or email Tracy@TalkToTracyHomes.com. Sign up for Tracy’s free weekly newsletter at http://www.TalkToTracyHomes.com/ or AZHomeBuyerHelp