With lumber prices starting to drop, and more than likely getting back to normalized rates, we should see an increase in new home construction. Mortgage rates are still very low and a great
New Construction Buyers Say They Need Agents Too
Dated: July 28 2021
With lumber prices starting to drop, and more than likely getting back to normalized rates, we should see an increase in new home construction. Mortgage rates are still very low and a great opportunity to jump on new construction builds.
Majority of new home shoppers are willing to look into the option of building a home, but in the end due to costs and availability only 9% do.
But it doesn’t have to be that way, especially if agents can help smooth over some of the bumps in the customer journey and fill in knowledge gaps around what buying new construction entails. Most agents have strong connections to local builders and the types of inventories they are offering.
Buyers need help with new construction
The buying process for new construction has some rough spots for customers, especially first timers. On top of searching and financing a new home, you have additional worries like trying to visualize the surrounding area, evaluating a builder, and selecting floor plans and finishing's.
Knowing that, it is no surprise that 76% of new home construction buyers work with an agent. 86% of new home buyers that have agents also want their agent to communicate with the home builder. In some cases, some buyers want their agents to handle all the communication between the builder.
Gen Z and Millennial buyers especially like help from agents
Young buyers of new construction, who also are first time home buyers, really value the expertise and help from an agent. They like to bring them along to the building center and help with the communication between them and the builder. Some topics of discussion they seek help with are:
Booking a tour
Exploring upgrade options
Comparing new construction values with existing homes value
Nearly a third of home buyers in the past couple years say that it was difficult to determine if the price they paid for new home construction was fair.
Working with an agent can help you understand the new construction process and determine if it is right for you. They also will be there to help with any other questions when they arise, whether its pricing fairness or layout adjustments you can trust they are there for you.
Contact us today for more help with your home buying and selling process!
Nick is the Founder and CEO of Black Castle Properties. He is also a Licensed Real Estate Broker with over 9 years of experience and an extensive background in sales. He understands the complexities o....
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