Are you considering buying a new construction home anywhere in the Metro Atlanta area? And are you wondering if you need your own agent to represent you or if you can just use the agent on site?
This article might give you some perspective about the process.
The 'Agent on Site' represents the builder and while I do agree that they are very knowledgeable about the homes in the community, their primary goal is to maximize profits and look after the best interests for the builder...not you, the buyer
If you decide that you want to be represented, be careful when you go to the community for the first time. Just like an Open House, they have a registration process in place, which they monitor and follow up on very closely.
A lot of times if you don’t register your personal agent at your very first visit to the community and/or mention that your agent is the reason you visited the community, a lot of builders will refuse to pay your agent a commission.
You don’t need your agent to be there with you when visiting the sales office. You’ll still be okay as long as you specify on their registration card that you are represented by an agent. Or you can always politely decline to fill out their card. Nobody can force you to do it if you don’t want to fill it out.
Did you know that you are paying for agent representation regardless of whether you use one or not?
Your agent’s 3% commission is already built into the price. The idea that going there on your own will save you money is false. The builder will simply end up with more profit in their own pockets.
Most major builders in Metro Atlanta now operate on a “One-Price Policy”. What that means is that they do not negotiate different prices or offer additional incentives to buyers not represented by an agent.
Builders in the Atlanta area know that real estate agents are crucial to their long-term success and survival and are aware that the best-qualified buyers are already working with an agent.
The bottom line is that the price you pay a builder has your representation already built into it and it entitles you to bring representation with you, so it's foolish not to have a personal real estate agent that will be looking out for your best interests.
Here are some things to consider if you decide to visit a new construction office on your own:
- Builders are using their own contracts that are designed to protect their interests.
- Not knowing how and what to negotiate can be trickier than you think.
- Needing to sell your current home while purchasing a new construction home can be tricky if you don’t know what to do.
- Beware of the builder’s advertised "base price”.
- Issues with the quality and defects that arise during the construction process.
- Protecting your security deposit.
- Your Loan Interest Rate, is it locked and for how long? What if the construction is not completed on time and rates go up drastically?
To learn more about the advantages to have you own agent read this article here.
I hope this helps, let me know your thoughts in the comment section.
Also, if you are the savvy kind of buyer looking to buy NEW in Metro Atlanta or anywhere in Georgia and you don’t might doing some legwork by searching and visiting communities on your own, you can take advantage of our New Construction Homes Cash Back Rebate Program.