I am meeting with a realtor tomorrow.
Should I expect to receive paperwork to sign on the first meeting - indicating i'm entering into some type of exclusive relationship with her to purchase in the state of AZ?
I like a few new communities built by builders like DR Horton, K Homes, Lennar, etc.
Is there a benefit to using to using a realtor for this new consutruction transaction?
versus walking into the sales office on my own?
I understand that the realtor is going to gain a commission?
Does that incentivize her to negotiate the selling price down with the builder? More so than I would be able to do on my own? More so that would offset the commission in the first place?
Thank you for any advice!
You should read reviews about DR Horton before buying, as for a realtor in AZ it's definitely a plus for you as the realtor represents you and not the builder and doesn't cost you a dime and a matter of fact I contacted a realtor and asked them to contribute 2% of his 3% commission that I'm using towards the mortgage as the builder is giving 2% towards closing costs and 8k in upgrades in AZ.
I too am buying new construction and debated whether or not to use a realtor or not. As someone else already mentioned, the seller's agent is working for the builder and not on your behalf, so it would be a good idea to have someone in your corner, especially if this is your first home purchase. That being said, I was not required to sign any agreement with the realtor at the time we went viewing properties and haven't signed any paperwork now that I'm under contract. I'm not certain if the requirements for that vary by state (I live in GA).
I will also say that most new home construction builders will not negotiate on the price of the home. They may, however, throw in some extra incentives or upgrades which can be negotiated on your behalf by your realtor. In my case, the builder of my home was already offering $12K worth of incentives ($6K towards closing costs and $6K towards upgrades) so there really wasn't much for my realtor to negotiate. She is, however, very knowlegeable in new construction and asked a lot of the right questions and made sure to call out important things to the seller's agent that I wouldn't have, so I am happy I chose to work with her.
It costs you nothing to hire a realtor and yes they will get a commission, but with new construction they may not have much leverage when trying to negotiate the price of the home. As I mentioned above though, they may be able to get you a few extras in other areas, all depending upon what the builder is already offering. Hope that helps!