Why Having Your Own Agent Matters When Buying a New Development

Feb 6th 2024

Finding the right home is one of the biggest challenges for potential buyers today. Right now, the supply of homes for sale is still low. But there is a bright spot. Newly built buildings make up a larger percent of the total homes available for sale than normal. That’s why, if you’re craving more options, it makes sense to see if a newly built home is right for you.

But it’s important to remember the process of working with a sponsor is different than buying from a individual homeowner. And, while sponsors typically have sales agents on-site, having your own agent helps make sure you have proper representation throughout your homebuying journey. As Realtor.com says:

“Keep in mind that the on-site agent you meet at a new-construction office works for the sponsor. So, as the homebuyer, it’s a smart idea to bring in your own agent, as well, to help you negotiate and stay protected in the transaction.”

Here’s how having your own agent is key when you build or buy a new development.

Agents Know the Local Area and Market

It’s important to consider how the neighborhood and surrounding area may evolve before making your home purchase. Your agent is well-versed in the upcoming communities and developments that could influence your decision. One way a real estate agent can help is by reviewing the builder's site plan. For example, you’ll want to know if there are any plans to construct a highway or add a drainage ditch behind your prospective backyard.

Knowledge of Construction Quality and Sponsor Reputation

An agent also has expertise in the construction quality and reputation of different sponsors. They can give you insights into each one's track record, customer satisfaction, and construction practices. Armed with this information, you can choose a builder known for consistently delivering top-notch homes.

Understanding Sponsor Negotiations and Contracts

When it comes to working with builders, having a skilled negotiator on your side can make all the difference. Sponsor contracts can be complex. Your agent can help you navigate these contracts to make sure you fully understand the terms and conditions. Plus, agents are skilled negotiators who can advocate for you, potentially securing better deals, upgrades, or incentives throughout the process.

Bottom Line

If you are interested in buying a new construction, having a trusted agent by your side can make a big difference. If you'd like to start that conversation, let’s connect.