New Construction is An Option!

"I'm frustrated by the lack of homes I'm seeing on the market. We've been searching for so long...what are our options?"

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​​This is a frustration I'm hearing a lot right now. Many people who are searching for a home are finding there's a major lack of choices (inventory) on the market. 

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One solution for home buyers: new construction. Some builders offer incentives like closing cost credits. Buying new construction could mean you have the ability to get a home under contract while it's still being built or even move-in ready. You may have the option to select finishes you like, or even the home site in the neighborhood. In addition, you'll have a new home warranty offered by the builder! That does bring peace of mind.

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Here's an important thing to know about new construction: Builders often have their own representatives that sell homes on-site. When the builder representative handles both the buyer and the seller (builder) sides of the deal, the situation is called dual agency. That means your interests and the builder interests are represented by the same agent.

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Dual Agency is completely legal in the State of Oregon. However, some people may have concerns about one agent representing both sides of the transaction. You can absolutely have your own real estate agent represent you and your interests alone in a new construction transaction (or, for that note, ANY real estate transaction).

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If you have a real estate agent you know, like, and trust, and you want to continue that relationship, your agent must pre-register you with the builder and attend the first visit to the site with you.

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That goes for every potential builder company and development you want to check out. 

It also happens that hey, it's a nice day so why not stop in to a new construction neighborhood while you're nearby? If you find yourself out and about and want to pop by, call your agent first, and have them call the attending on-site agent. At the VERY least, tell the attending on-site builder agent that you have a Realtor of your own that you are working with, their name, and that you were in the area and just wanted to stop in. 

If you have any questions about navigating the world of buying new construction, please feel welcome to simply reach out.

Jennifer Schurter is a real estate agent and expert marketer serving the Greater Portland, Oregon Metro Area and Willamette Valley of Oregon. If you're looking to start the journey to buying a home, selling a home, or investing in real estate assets, you may reach Jennifer at jen@jenschurter.com.