Why Use an Exclusive Buyer’s Agent for New Construction?
Because the builder’s agent’s job is to convince you to buy only their homes at the highest price. Your Buyer Agent’s job is to even the odds and negotiate for the lowest price and best terms for YOU!
It is foolish for a home buyer to enter into a new construction contract without an Exclusive Buyer Agent. The advantages are many; aside from the obvious ones. The fact that having buyer agent representation is often FREE cannot be repeated often enough. So too, should the misconception that not using a buyer’s agent will save money be constantly repeated – that simply doesn’t happen.
Remember that that site agent represents the builder/developer. Most real estate agents are sub-agents of the Seller or Transactional agent. In neither case do they have a fiduciary responsibility to the Buyer.
There is a listing contract in place that specifies the agent’s duties and the commission paid by the builder. When an unrepresented buyer contracts a home, the commission agreed upon does not change, it is simply reflects the listing broker (site agent) receiving both sides of the commission.
The site agent is legally bound to represent the best interests of the builder, not the homebuyer. They are expected to work to secure the builder the best deal; not do anything illegal of course but they will not – cannot – negotiate against their client. This is consistent throughout the course of the build; the builder is their client, the buyer is their customer.
Benefits of Using an Exclusive Buyer Agent for New Construction: