Maryland buyers agents
New home builders have slowed down substantially over the last few years following the housing bubble. Still, new home sales have been on the rise as of late and there will always be a market for new homes. Modern amenities, sparkling counter tops, and shiny hardwoods continue to draw buyers into their sales office. However, is it best to stroll into a new home sales office without a Realtor to assist you in your process?
Many buyers feel they can get a better deal without a buyers agent. This idea is similar to buyers attempt to avoid an agent altogether on re-sales, but is much more prevalent because it appears to be more “cut and dry” when buying a new home. True, they have a friendly and knowledgeable sales agent there to walk the buyer through every step, but you should never forget who they represent and what their motives are. To sell you the home at the highest price possible! Buyers may feel that there is no haggling and that everything they choose during the upgrade process is a flat rate, but that is often times untrue. New builders can negotiate and without your own representation they will feel less inclined and try to to the job given to them. Again, to sell the home at the highest price.
Adversely, when you use a buyers agent, you have someone reviewing all the recent accessible sales, talking to other builders, having a background of other new homes, and they may have previously worked with the particular builder. Most importantly, professionally negotiating the purchase. I suppose the argument made is that the builder saves money because they do not have to pay a buyers agent commission. Valid point, but it will surely offset in other areas where your agent would have benefited you. Not to mention all the work that is needed to be done. If your buying pre-construction than you have to pick everything out and all the terms are changing as you go. This can be very time consuming and stressful when you are already trying to juggle your everyday life.
New home builders will also try to entice you to work with their financing company in order to obtain the loan. They will offer incentives and closing cost help, but this is completely attainable without using their affiliated business relationship with a certain bank. You should always shop your rates with multiple loan officers and should always have a buyers agent to represent you when buying a new home. In the end, you will save more money and have someone who actually has YOUR BEST INTEREST in mind rather than theirs.
Ben White – Montgomery County Realtor® – 240-848-3322
Category : Blog
As an agent who uses the internet to interact and meet clients I consistently receive phone calls or e-mails from a potential buyer who is interested in a particular property. As always, I eagerly pull up the information and offer my assistance.
However, I often times run into the same question: “So, you’re not the list agent?” I explain the nature of the marketing and that I can help them even more than the list agent. Still, there seems to be a misconception about buyer agency and agency in general. People seem to feel as if they can possibly get a better deal or save themselves money if they contact and/or work the list agent directly. The misunderstanding extends further because buyers may not know that they do not need to pay a buyer agent for their assistance. Buyer agents are paid out of the seller’s proceeds and only if the agent can find you a home and successfully reach settlement.
It is imperative for an active buyer to obtain a sole Buyer’s Agent (like me) and have the agent committed to working for them. Especially in this very competitive buyers market, which is still the case even with the change of seasons.
Without that full level of service the buyer will lose out on opportunities and have nobody representing them or their best interest. When the list agent is contacted they may try to work both sides of the deal (leaving the buyer with no representation) or they may refer you to a buyer’s agent who already works with the list agent.
This can leave the potential buyer in a situation where they do not have full representation because that particular buyer’s agent and the list agent whom made the referral will have extra incentive to sell the initial property. Furthermore, the idea that a better deal can be had is entirely untrue. The list agent will be the only one getting a “deal”, for they will get both sides of the commission (buyer & seller agents). If you’re a serious and active buyer, obtain a buyers agent ASAP!
Maryland Buyer’s Agent, Ben White
240-848-3322 — Get pre-approved
Category : Blog