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New Home Communities love unrepresented buyers!
Don’t be one of them!
In
order to be legally represented by a
Buyer’s
Agent you MUST contact that agent BEFORE you contact the New
Home Community!
1)
New home salespersons are not necessarily licensed by
the State of Florida and are not legally required to
be. They may have no previous real estate
experience.
2)
New home salespersons are not necessarily licensed
Realtors and are not legally required to be.
3)
New home salespersons represent the builder/developer
and owe you no fiduciary duty.
4)
New home salespeople may be unfamiliar
with the local real estate market and its inventory
and only know of their product line. Some may know
little of their competitors.
5)
A new home salespersons job is to get you to buy their
product on your first visit by
spending as much time with you as possible. The longer
you are there, the more likely you will become
emotionally attached and purchase.
6)
If you contact a new home development or community by visiting,
calling, or email, and provide them with your name,
phone number, or address, you become "registered"
with that development and may forfeit your rights
to representation by a Realtor/Buyer Agent.
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In
the Naples area approximately 50%-65% of New Home Buyers
utilize the services of a Realtor/Buyer Agent!
Why use a Buyer Agent's to purchase New Construction?
1) A Realtor specializing in new communities can offer you a wider
selection of communities, homes, and locations to choose from than if you would try to attempt the process yourself. It is nearly impossible for an out-of-state purchaser to possibly be aware of all local happenings in
our new home market.
2) A Realtor specializing in new communities is aware of
upcoming new home lotteries and future communities requiring advance registration.
3) A Realtor specializing in new communities is aware of new home communities which are currently taking reservations for
future sales.
4) A Realtor specializing in new communities can advise
you on the good and bad aspects of a particular new community and advise on how strong or weak sales are at
that development.
5) A Realtor specializing in new communities can assist with lot locations,
inform you on other residential or commercial developments or
future construction surrounding the community,
help with your selection of upgrades and options,
provide information on rental prospects and
estimates, and follow and update you on the construction
progress of your new home.
6) A Realtor specializing in new communities will guide you through the builder's contract, deposit procedures, condo association documentation, miscellaneous contribution fees and assessments, closing costs, golf memberships, and inspections.
7) A Realtor specializing in new communities will review the closing documentation and check for accuracy.
8) A Realtor acting as a Buyer Agent owes you, the client, specific responsibilities and fiduciary duties which are
required by Florida law. These duties include loyalty, confidentiality, obedience, and full disclosure of information including all known facts that materially affect the value of a property. In a new home community, the salesperson is usually an employee of the builder or a large corporation. They owe you absolutely
no fiduciary duty.
9) A Realtor acting as a Buyer Agent has no allegiance to any new community or development and can provide you with
unbiased information.
10) A Realtor specializing in new communities must be
informed of the general real
estate market in the Naples area. He or she must be familiar with a large range and variety of property. The new home salesperson may not fully
be aware of the local real estate market as their responsibility is to their community.
11) A Realtor specializing in new communities can also show you
resale properties if you are
considering them or wish to compare existing homes to new construction.
12) A Realtor specializing in new communities is nearly always paid by the builder. There is
no cost to the client.
13) A Realtor specializing in new communities will save you a considerable amount of frustration, confusion, time, and perhaps money. The Naples real estate market is extremely active, competitive,
demanding, and fast-moving. Having an informed,
knowledgeable, unbiased, and objective professional Realtor working with you and for you is your
best
advantage.
Please
remember it is in your best interest NOT to contact a
new home community or development if you intend to use a
Realtor/Buyer Agent in your home search. In Florida, by
giving a new home community your name, address, email,
or phone number, you become "registered” with
that development thus becoming “their” buyer and you
may effectively forfeit the representation and services
of a Realtor/Buyer Agent. They do not have to disclose
this to you.
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