Should I Use A Realtor When Buying A New Home From A Builder?

Using your own Realtor to purchase a new home from a builder can save you a lot of money...and grief.
Las Vegas Top Realtors - The Myers Team
Las Vegas Top Realtors - The Myers Team
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Myers Team

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Las Vegas - Nevada - US

LAS VEGAS - Jan. 13, 2014 - PRLog -- Have you ever walked into a new home track and been greeted right away by those smiling, friendly people who offer you bottled water and cookies? Please don't be fooled. The agents who work at the model homes don't represent you...they represent the builder. They are paid by the builder, loyal to the builder and their job is to get the best deal for the builder. Who is looking out for you?

Who is going to read the fine print and ensure you are getting the best possible representation? For example, did you know that you don't have to use the builder's lender? What if you can get a better interest rate using your own lender? New home tracks typically offer incentives, if you agree to use the builder's in-house lender, however is this really a good deal?  What's the catch?

Getting a cash incentive or contribution towards upgrades and/or closing costs sounds VERY GOOD; however, what is the builder's incentive for doing this? What interest rate and monthly payment are they offering?  Would you get a lower rate and monthly mortgage payment using your own lender?  Additionally, what is the builder's lender charging you in fees (origination fees?) I would recommend speaking to a trusted lender (or two) and see what rate and payment they quote you. If it's the same as the builder’s lender, then those incentive dollars make sense and you're set.  If the builder’s lender is charging you a higher interest rate and payment, then you’re likely paying for those incentives in other ways.  It could just be a marketing ploy.

Additionally, did you know that the home price and upgrade expenses are typically negotiable? In fact, everything is usually negotiable.  Many builders take advantage of people who walk into the model homes simply because the average person is unaware that the terms may be negotiable. They may even tell you that the price of the home and terms are fixed, however, this may or may not be the case.

If you bring a Realtor of your choosing with you to purchase a new home, you can usually get a better deal, because the builder knows you are being represented by a licensed professional.  Additionally, it is FREE to use your own Realtor, since the builder pays the Broker fees out of their pocket...not yours.

The days of lotteries and putting your name on waiting lists to buy new homes are long gone. Don't be fooled by free cookies. Free Buyer Representation from the Realtor of YOUR choosing beats free cookies any day!  Let us get you the best deal!

The Myers Team with Simply Vegas Real Estate is nationally recognized as top Realtors in the Las Vegas area. They know how to negotiate with new home builders to get you the best possible terms.

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The Myers Team
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Page Updated Last on: Jan 13, 2014

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