5 Reasons You Should Use a REALTOR When Purchasing a Regina Home Builders Spec Home

There are multiple new developments in Regina which offer a wide variety of Regina Home Builders to chose from and a wide range of different spec homes.


Unfortunately, it is a common misunderstanding that working with a REALTOR® to purchase a Regina home builder’s spec home will cost the buyer more money and be a hindrance in the process.

Let’s dive deeper, expose these myths and provide you with a high-level overview of what a REALTOR® actually does for a buyer that is purchasing an already built or to be built spec home:

  1. A REALTOR® is looking out for your best interest — A real estate agent represents YOU. The home builder’s salesperson represents the home builder. The home builder’s salesperson may be good natured and honest, but you would be well-advised to seek representation from a party who does not have dual interest. At the end of the day, the home builder is ultimately paying the salesperson’s salary.
     
  2. A real estate agent’s expertiseHiring a REALTOR® to represent you as a buyer in the purchasing process of your spec home who is adept in new home sales in your area can
  • Provide you with the knowledge to ensure you are paying fair market value; 
  • Make sure that you are aware of what is being built around you; 
  • Will have a good understanding of Regina home builders’ reputations and
  • An understanding of previous promotions/incentives that they have and can offer in the negotiation process. 
  1. A real estate agents’ commissions — An overwhelming amount of spec home buyers believe that their real estate agent’s commissions will be added onto the purchase price of the spec home—OR—the home buyer will lose money in the negotiation process. This is simply not true. The builder will pay those commissions to the salesperson working in the show home if the buyer does not bring in their own representation. In addition, the builder has money set aside for a REALTOR®’s commission (or the home builder’s salesperson if the new home buyer forgoes using their own representation) in the home builders marketing budget.
     
  2. The negotiation process — Regina Home Builders are well-known for not swaying on price the way that a resale property may during the negotiation process. This is because a home builder does not have an emotional attachment to the house AND most importantly has a bottom line. That being said, it is not uncommon for home builders to offer other incentives such as free or heavily reduced prices on a garage, landscaping, basement or high-end finishes. This is where a real estate agent’s expertise can greatly assist you in the home buying process. In addition, a REALTOR® understands these contracts and will make sure that everything you want as a home buyer is incorporated into the contract.
     
  3. Your advocate — A REALTOR® will walk through each stage of the spec home when it is being built (if it is not built already). A real estate agent will also provide an outside home inspector perspective (instead of relying solely on the Regina home builders) once the build has been completed to double check that everything has been completed to professional standards. A real estate agent will understand to a “T” what you expect in your spec home and ensure that everything is included as promised by the builder.

Local real estate agents that are experienced with Regina home builders will look out for your best interest, equip you with the expertise, do not cost you any money (and do not provide you with an unfair advantage of purchasing the house at a lower price), yield the best results during the negotiation process and are YOUR advocates.

 

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If you have any questions about how to form a down payment and the dos and don’ts around them, I would be happy to meet and go through my home buyers’ guide!

Give me a call at 306-552-7047 or fill out my online contact form!

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