Purchasing a new build home can be an exciting venture, filled with possibilities of customization and the allure of living in a space that's never been occupied before. However, navigating the complexities of buying a new construction home is not without its challenges. This is where the expertise of a real estate professional becomes invaluable. Here are several reasons why enlisting the help of a real estate agent is a wise decision when purchasing a new build:

1. Expert Guidance Through a Complex Process

• Understanding the Market: Real estate professionals have in-depth knowledge of the local market. They can provide insights into the pricing trends, future development plans in the area, and the reputation of various builders.
• Navigating Contracts and Negotiations: New construction contracts can be complex and builder-centric. An experienced agent can help navigate these contracts and advocate for terms that protect the buyer's interests.

2. Representation and Advocacy

• Your Interests First: The sales agents at the new build communities represent the builder’s interests, not yours. Having your own agent ensures that your interests are represented.
• Negotiation Skills: A seasoned real estate professional can negotiate on your behalf, potentially saving you thousands of dollars. This can include upgrades, modifications, and financial terms.

3. Insight into Construction and Quality

• Quality Assessment: Real estate agents who specialize in new constructions can assess the quality of the home, from materials used to the workmanship.
• Builder Reputation: They can provide information about the builder's reputation, past projects, and reliability, which is crucial in ensuring you get a quality home.

4. Assistance with Design and Customization

• Design Choices: An agent can help you make informed decisions about upgrades and customizations that will not only suit your lifestyle but also add value to your home.
• Budget Management: They can guide you on where to invest in upgrades and where to save, helping you stay within your budget without compromising on essentials.

5. Help with Financing and Closing

• Financing Options: Real estate professionals often have connections with mortgage brokers and lenders who have experience in financing new constructions.
• Closing Process: They can guide you through the closing process, ensuring that all necessary paperwork is completed accurately and on time.

6. Post-Purchase Support

• Warranty Issues: Agents can assist in understanding and managing warranty coverage for new builds.
• Resource for Future Needs: Whether it's for renting out the property, reselling it, or seeking property management services, your agent can be a valuable resource.

Conclusion

While it might seem tempting to go it alone when purchasing a new build, the value that a real estate professional brings to the table cannot be overstated. Their expertise, advocacy, and guidance through every step of the process can not only save you money and time but also provide peace of mind in your investment. In the complex world of real estate transactions, having a knowledgeable professional on your side is an invaluable asset.

asreb.com • Authors: Mark Hutchins & Jereme Kleven, Owners, My Home Group, LLC

Buying a house can be a lengthy process—from finding the right home within your budget to negotiating the price with a seller and signing the final papers. Even those who love the prospect of shopping for homes are bound to get overwhelmed at some point. But do you need a realtor to buy a house, or is it an unnecessary formality?

Here are a few good reasons why you might want to seriously consider finding a good realtor—and a tip or two in case you decide to embark on the journey yourself.

Increase your odds of finding the right home

If you’re on a citywide manhunt for the perfect home, a realtor can help. Sure, there are sites where you can find homes for sale, but these sites aren’t always up-to-date. Your realtor will have more current information, and they are more likely to have access to homes that have just been listed.

They might also help you set more realistic goals within your budget. Ideally, a realtor can help you compromise on what you need vs. what you want. That pool in the backyard or that extra guest bedroom? It might not be realistic within the neighborhood that you’re looking for.

Spot a dud

Realtors look at houses every day and have a deep understanding of the market. They can help you pick up on critical issues early on—like spotting whether a home might have structural damage before you’ve called out an inspector or asking how much a homeowner’s association keeps in arrears.

Make your best offer

Do you need a realtor to buy a house? In the current market, you probably do. With an increased demand for homes and an ongoing lack of inventory, you’re likely to find yourself in a bidding war. Having a realtor at that point might be the only way to get an offer accepted. Your agent can help you determine the value of a home and decide how much you’re willing to invest before it’s best just to walk away.

Sellers are also likely to work with a listing agent. This person will have a fiduciary responsibility to the seller, meaning they’ll only have the seller’s interest at hand. It could be difficult for a less experienced homebuyer to navigate that territory and come out on top. This is also the case with new home construction, even though the home buying process is more simplified.

If you’ve taken everything above into consideration and still feel convinced you don’t need a realtor to buy a house, then get prepared to do some research. Realtors charge fees that some homebuyers would like to avoid, and there is no law mandating that you need an agent to buy a home.

There’s a lot of paperwork involved in buying a home; an attorney can help remove liability. And without an realtor, you’ll want to educate yourself on the area that interests you. Look up the price at which other homes of comparable value were sold, and make sure you hire a home inspector before you sign any final papers.

Do you need a realtor to buy a house? At the end of the day, this decision is primarily up to you. But there are advantages to having an expert on your side, even if that means having to pay them.

Published 03.03.2022 - https://www.centex.com/

In the world of real estate, the recent lawsuit against the National Association of REALTORS® (NAR) has sparked considerable debate and raised questions about the role of realtors in today's market. While the lawsuit brings certain practices into question, it also underscores the critical importance of having a knowledgeable and experienced realtor to represent buyers and sellers. Residential commissions have ALWAYS been negotiable and will continue to be negotiable but let’s delve into why it’s still important to have a realtor representation for buyer and seller.

Understanding the Lawsuit

The lawsuit against NAR, filed by the U.S. Department of Justice (DOJ) in 2020, alleges anticompetitive behavior related to commission structures and access to property listings. Among the key issues raised are concerns about the transparency of commission rates and the restrictions on information available to consumers.  There was never a set commission of 6% for Sellers. All commissions could and have been negotiated. 

The Value of Realtor Representation

Despite the ongoing legal proceedings, the role of realtors remains as crucial as ever. Here are several reasons why buyers and sellers still need realtors to represent them:

1. Expertise and Guidance: Realtors bring invaluable expertise and guidance to the table. They have in-depth knowledge of the local market trends, pricing strategies, and negotiation techniques. This expertise is particularly vital in navigating complex transactions and ensuring that clients make informed decisions.
2. Access to Resources: Realtors have access to a vast network of resources and tools that can streamline the buying and selling process. From professional connections to marketing platforms, realtors leverage these resources to maximize exposure for listings and identify suitable properties for buyers.
3. Navigating Legalities: Real estate transactions involve numerous legal intricacies and paperwork. Realtors are well-versed in the legal aspects of buying and selling property, ensuring that all contracts and agreements adhere to relevant regulations. This expertise minimizes the risk of costly errors and legal disputes down the line.
4. Negotiation Skills: Negotiation is a fundamental aspect of real estate transactions. Realtors act as skilled negotiators on behalf of their clients, advocating for their best interests and striving to secure favorable terms. Whether it's negotiating the sales price or navigating contingencies, relators are adept at achieving optimal outcomes.
5. Personalized Service: One of the most significant advantages of working with a realtor is the personalized service they provide. Realtors take the time to understand their clients' unique needs, preferences, and goals, tailoring their approach accordingly. This personalized attention fosters trust and ensures a smooth and satisfying experience for buyers and sellers alike.

Conclusion

While the lawsuit against the National Association of REALTORS® has brought attention to certain industry practices, it has also underscored the indispensable role of realtors in representing buyers and sellers. From their expertise and guidance to their access to resources and negotiation skills, realtors offer unparalleled value throughout the real estate transaction process. As buyers and sellers navigate the complexities of the market, partnering with a trusted and experienced realtor remains essential for achieving successful outcomes.

In essence, the NAR lawsuit serves as a reminder of the ongoing need for professional realtor representation, highlighting the pivotal role that realtors  play in safeguarding the interests of their clients and facilitating seamless transactions in an ever-evolving market landscape.

• New listings for homes for sale climbed 12.9% year-over-year in February, Redfin data shows.

• Total inventory also improved, as total homes for sale did not decline for the first time in nine months.

• Demand remains weak, with mortgage-purchase applications down for four weeks in a row.

The frozen US housing market is showing some signs of loosening this month.

In the four weeks to February 25, new listings of US homes for sale surged 12.9% compared to the same time a year ago, hitting 79,354, according to data from Redfin. That's the sharpest spike in nearly three years.

Total inventory, meanwhile, remained flat year-over-year, the first time in nine months the figure didn't move lower.

Redfin's Homebuyer Demand Index, which measures requests for tours and services from Redfin real estate agents, also climbed 10% compared to last month, and is at its highest level since last September.

"House hunters are out there, and competition picks up every time mortgage rates decline a bit," said Brynn Rea, a Redfin agent in Spokane, Washington. "I'm telling buyers who can afford it to look now while they have more breathing room and less competition. They have a good chance of negotiating the price down or getting some concessions from the seller.

The median sale price in February hit $365,888 in the four weeks up to February 25 — 5.4% higher than a year ago, and the largest increase since October 2022 except for the four weeks up to February 11.   Read the original article on Business Insider