With mortgage rates at extremely low rate and median prices moving closer to what middle-income buyers can afford, newly constructed homes are enjoying their best sales year in more than a decade.
The process of buying new construction has some tough spots for shoppers, especially first-timers. In addition to searching for and financing a home, they’re trying to visualize what that home and the surrounding community will look like, evaluate a builder and select a floor plan and finishes.
Since there are so many moving parts, most new construction buyers (76%) work with agents to find their home, and that 84% of new construction buyers who work with an agent and visit a building/sales center want their agent to help communicate with the builder.
Half of those buyers (50%) want their agent to handle some communication with the building/sales center, and 34% want their agent or broker to handle all communications with the builder. Only 16% don’t want their agents involved.
Some of the things they might need help with include:
- Negotiate price
- Book a tour
- Explore upgrade options
- Compare new construction values with existing home values
For more information or any questions regarding sales tips for real estate agents, contact Chang Legal today.