When it comes to buying a newly constructed Denver home, many people think they don't need the help of a Realtor®. What those people often don't know is that buyers pay nothing for real estate services in this situation since the Realtor's commission comes from the builder.
Many Denver homebuyers think that handling the negotiations themselves means they will receive the commission allotted for their agent. This is not the case as the funds come from the builder's marketing budget and are meant specifically for a real estate professional.
So what do you really get from using a professional real estate agent when buying a new
construction home in Denver?
To start, it's a Realtor’s job to know the market and what the homes in similar neighborhoods are worth. This means the agent will know the appropriate asking price for the new home so you don't end up overpaying.
As folks who buy and sell homes for a living, Realtors know what features the home should have in order to maintain the highest possible resale value. Many homebuyers see themselves settling in their new homes for at least ten years and may not think this issue is important. However, life can get in the way, and a Realtor can help buyers be prepared for the future with a house that others will want when it's time to sell their Denver home.
Negotiating with the builder’s representative can be tricky without enough preparation. Their representative is hired to watch out for the builder’s needs and they are trained to negotiate. A Realtor can provide the same expert representation, with no cost to the homebuyer. We have literally saved our clients tens of thousand of dollars on a single transaction, or negotiated upgrades at no cost.
Many things can change as a home is built. A Realtor has insider market knowledge that can help protect buyers from changing market conditions or even changes in the builder’s business status. Essentially, a real estate professional can provide services from the time you agree to purchase until the new home is ready.
A Realtor can be a big help when it comes to navigating the complicated purchase contract and other paperwork involved in buying a newly-built Denver home. Your agent can explain the contract, point out anything that may be unusual, and then help to negotiate the changes.
Buying a new home in Denver should be an exciting experience. Working without a Realtor means doing a lot of research on market conditions and handling a lot of pressure to negotiate. Maintaining sanity is probably the most important benefit for using a Realtor, and it gives buyers the mental space to actually think about life in their new home.
Let the professionals at the Bandy Team help you buy or sell a Denver home. Contact us for a no-obligation consultation. If you’re thinking about buying a home in Castle Rock, we can show you some terrific properties in Castle Pines, homes in The Meadows, town homes in Founders Village, and real estate in Castlewood Ranch.
Our thanks to Tom Miller of NewHomeSource.com for the great information shared in this week's blog.