Like any home purchase, buying new construction is a complex process (a serious affair), an expensive transaction with many financial implications. That’s why it’s a good idea to obtain representation from a Realtor® when considering a new home purchase. Here’s why:
1. Builder Sales Reps. represent the Builder: It’s important to remember that Builder Sales Reps. represent the Builder and will take care of Builder’s interest above than anyone else as they are contractually obligated to do so. When a Realtor® signs the Buyer Agency Agreement (BAA), he goes above and beyond to ensure that the buyer’s interest are taken care of, thus bringing fairness, equality and true representation on the buyer’s side of the transaction.
2. Fiduciary responsibility: The Buyer Agency Agreement (BAA) warrants that the Realtor® has 100% fiduciary responsibility to the buyer. He takes care of buyer’s financial interests and ensure that the buyer is well versed before signing any paperwork with the Builder.
3. Negotiating a Deal: Realtor® can work on behalf of Buyer to negotiate better terms and conditions from upgrade options to financing a deal with the Builder.
To put it simpler, not having a Realtor® on your side is similar to going to a court without an Attorney.