Purchasing a new construction home can be great fun as well as stressful. It’s easy to get caught up in the dreams for your family as you envision living in a gorgeous new home. As you consider making one of the more expensive purchases in your life, you probably aren’t thinking much about who is representing you in the transaction. Sure the builder’s sales agent or listing agent will be helpful, but as you walk in the door, realize they are representing the builder and not you.
Minnesota Law allows for agents to represent both parties in a transaction. It’s called Dual Agency and as long as it is disclosed and all parties agree to Dual Agency that is fine. But did you realize in Dual Agency that the builder’s real estate agent who acts as a Dual Agent cannot argue to the benefit of one party to the detriment of the other? Please be sure to read The New Agency Laws in Real Estate – Understanding Dual Agency as a Home Buyer or Home Seller. It is a lengthy post but worth increasing your knowledge and understanding of the transaction which may be the most expensive purchase of your life.
As new construction once again comes back to life across the Twin Cities as we are seeing it in places like Plymouth, Maple Grove, Medina, Minnetrista, Shakopee, Blaine and Woodbury, it’s important to have your own representation when making a decision about a new neighborhood, a particular builder or a specific floor plan.
Janet and I have represented many new home buyers as they have purchased new construction homes. Whether it’s a million dollar plus luxury estate, to upper bracket custom homes to major subdivisions by the national home builders, we’ve represented home buyers across every perspective.
We also respect that you may not always desire to look at home with an agent by your side. We get that. You may need time to think, process and chat just between the two of you. We can be flexible. For those who need their space, great. If you’d like to tour and have an agent by your side as you tour, we’re happy to accommodate you. Our recommendation is that we meet, talk and/or tour from time to time to share ideas and information as to what you’re looking for and perhaps what looks interesting to you. As you get more serious we can get together to help you finalize your decision.
Comments or questions are welcome.