What I Learned Selling New Construction

Now that I’ve seen behind the curtain, I can tell you why it is important to register a good agent when buying new construction. I was first licensed in Florida, in 1999. In all that time, new construction sales seemed something of a mystery. That is until March of 2023. After years of selling general real estate in Sarasota, Florida, I was given the position of Sales Manager for a new construction community. It was necessary to hang my license with a general contractor.

For the Year 2024, I have returned to general sales as a Real Estate Advisor with Coldwell Banker Downtown Sarasota. I am here with you to share what I learned. Hopefully, you will find the right agent to guide you through your journey to building a new home. Remember to Call Forest First! (941) 549-4010

First, one must decide whether to ask their Realtor® to accompany them on their first visit to the community; otherwise, they take a chance that the Builder won’t pay a commission, which leads you to dependence on the Builder’s Agent for your wants and needs.

What are the odds the Builder is going to turn over as much control to you as possible. No. It’s the other way around. Call Forest First! (941) 549-4010 I know what buttons to push.

Note: If your agent does not accompany you on your first visit (or at least call ahead to announce your names to the sales office before your arrival), it means two things. One the Seller (Builder) saves on a commission. Two it means that there is no agent protecting you by regularly holding them accountable for their obligations and their part in the avoidance of a striking number of common pitfalls.

So when you come unrepresented it's a win-win for the Builder, but sadly, not for you. You’ll be the one shelling out deposit after deposit, waiting sometimes years for completion. The Builder’s Agent will get more commission, though.

There are a slew of transactional fundamentals that come into play when writing up new construction, and the Builder's Agent is not batting for your team. Think of the them as your insurance company. Even though you pay them, they aren't going to show you all of their cards, and you might accidently reveal-or not even know-your own cards when making a claim.

If you call me right now at (941) 549-4010, off the top of my head, I can think of several ways to get started. I can begin by researching the builder's reputation, investigating ongoing quality of construction, adherence to draws and timelines as well as any offers on luxury upgrades or other incentives.

An experienced, qualified Realtor® like myself can help you navigate the buying process, demand the most value for your money, and ensure accountability. A Realtor® can work with the Builder and the Builder’s Agent to alert you to the existence of any red flags.

Note: As your agent, I am able to address general contractual issues; however, it is advisable to consult with an attorney before signing a contract.

Here are a few things to consider prior to entering into a contract with new construction:

• Construction Timeframes? Does the contract outline specific dates of commencement and completion?
• Change Orders? Is there a written policy for making allowable changes, and what is the cost?
• Inspections? When, if at all, are you or your representative allowed to inspect the project?

Please be mindful of these common pitfalls when purchasing new construction, and Call Forest First! (941) 549-4010

Forest Balderson is a Realtor® with Coldwell Banker Downtown Sarasota. He currently serves as Vice Chair of the fundraising committee for the RASM Realtors® Charitable Foundation. He lives in Gulf Gate Estates. Check out ForestBalderson.com for listings and more.