As the real estate market has rebounded, consumers have demanded new construction. In fact, about 30 percent of the home-buying public, at any given time, wants to purchase new construction if it’s available.
One the most common misconceptions about buying new construction is that you don’t need the services of a Realtor.
“If you ever need the representation of a Realtor, it is before, during and after the construction of a new home,” said Pat Riley, CEO and president, Allen Tate Companies, in the September-October edition of Carolinas Market Update, a bi-monthly real estate video series.
Many new construction buyers are surprised to learn that the cost of the home is the same, whether they use a Realtor or “go direct” with a builder. A builder’s marketing fee is built into the price of the home. And while a builder’s representative is often helpful and knowledgeable, they are loyal to the builder’s interests – not the buyer’s.
A Realtor will serve as a trusted advocate for the buyer, in matters from lot selection, plans and change orders, to financing options and coordinating a home’s completion with the sale of the buyer’s existing home.
“The representation of a Realtor when you are buying new construction costs you no more than if you go it alone and assume all the risk,” said Riley.
Carolinas Market Update is targeted to consumers in the Charlotte, Triad, Research Triangle and Upstate S.C. regions. It is produced every other month by the Allen Tate Companies and features information, statistics, trends and predictions about the real estate market in North and South Carolina.