This week our team was out touring another new home site in Northern Virginia. While talking to the sales rep the question came up as to how many buyers came to the new home site with an agent? The answer was shocking. Only 15% of buyers in this development purchased with an agent helping them out.
Now you would think the new home sales rep would think this was great. More money for them…right? What they are paid has nothing to do with whether there is another agent working with the buyer and a buyer doesn’t get a discount because they don’t have their own representation. The sales team would rather have a buyer represented by their own agent than show up on their own.
When you are buying new construction you may not realize how the builder contract is geared 100% towards the builders rights and very few for you as the buyer. Do you know what those are? Builders usually tie incentives to the use of their mortgage company and title company. Is that really the best deal for you? What about upgrades? Are you sure you want to be paying for that super deluxe fridge in your mortgage for 30 years when it likely will need to be replaced in 10?
If you are thinking about buying new construction think seriously whether showing up at the model home without representation is working for or against you.You can check out the New Home Buying Guide I put together a few years ago to see a few things you might not know about buying a new home in Northern Virginia.
If you are looking for a team with experience working with and for builders give us a call at 703-346-2213. We tour new construction neighborhoods every week to keep on top of what Northern Virginia builders are up to.