Any buyer who is the market to buy a home will be able to find new construction homes for sale in their price range. Both large national builders and small local builders create these homes in Northern Colorado. Buyers need to keep in mind the these homes may not be listed in the local Multiple Listing Service and can only be found via billboards, internet sites, and paper advertising.
New Homebuilders Have Unique Ways Of Selling Their Homes
- These new homes are not listed with a local Realtor, but instead the builder has their own sales staff at their show homes/offices.
- This sales staff is there to allow the builder to write the contracts on these homes, therefore having more control over the sales process and also create cost saving for them.
- Their sales staff members are advocates for the builder and not the buyer. Without buyers having their own realtor, who would act as their personal advocate, they could be placed in a disadvantage position.
Your Own Realtor Can Level the Playing Field With The Builder
An experienced Realtor can help you find a builder that is creating homes that are a match for you in terms of pricing, style and location.
- Where a development is in terms of its build out is important. Your agent can determine this for you and help you understand what your chances are of getting discounts and upgrades. Generally, the earlier you get into the development of a project, the greater your chances are of getting some great concessions from the builder. They need to sell homes early on to help them prove the continued viability of their project to their bankers.
- If a project is underway and the first 10 homes sell well, it is very likely that the price of new units will go up. I sold a new built condo a short time ago and the purchase price was $310,000. The next building, which was started within a month of this first building, had the same units priced a $320,000.
- Finally, if the project is nearing its end, there is also a good chance a buyer can negotiate on some significant upgrades, because the builder will desire to finish the build out and move on to another project.
Realtor’s Advocacy for the Buyer Continues as the Home is Built
The above items are all important, but once you are under contract on a new home, your Realtor’s continues to work as your advocate. A good agent will visit the construction site regularly and monitor the quality of the work on the home as it is being built. This is especially important if you are not living in the area where the home is being constructed. Also, the agent can keep the buyer aware of where they are as each significant section of the contract is completed. It is important that buyers always be aware of where they can escape the sales contract without losing their earnest money, if they grow dissatisfied with the home or the subdivision.
So, it should be apparent that having ones own Realtor as a personal advocate puts buyers in a stronger position as they move into and thru the process of buying a new built home. A sales representative for the builder will not be doing this kind of work for you.
One last point, if a buyer does visit and registers at builder’s show home on their own, they need to inform the sales staff that they have their own Realtor who they are working with them. If they do not do so, the builder may refuse them the right to have their Realtor represent them. For specifics about the different kinds of relationships between Realtors and Buyers and also Sellers check out our blog post: "Working Relationships with a Realtor and the Impact on Buyers and Sellers"
For more information on new build homes in the Northern Colorado area, please contact us so we can help you find that special new home for you.