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The Answer is YES

If you consider buying a new construction home, there’s a good chance you’ll question whether or not you even need to use a real estate agent.

You might even wonder if there’s an advantage to not using a real estate agent…perhaps thinking you can get a lower price, or more upgrades thrown in, if the builder isn’t paying a real estate agent their commission.

Or, you just might not give it any thought whatsoever, and stumble into buying your new construction home, without having your own real estate agent to represent you.

So, do you need to use a real estate agent when buying new construction?

Technically? No.

Should you? Yes.

It’s About Representation

The purchase of a new construction home really isn’t any different in many ways than purchasing a resale home. The knowledge and skills of a good real estate agent go beyond the “finding” of your home, or doing some paperwork.

There may very well be a licensed agent at the new construction site, sitting in the model home. But that’s not your agent…despite any disclosures or documents that they may go over with you.

You want your own agent. Someone third party, not affiliated with the builder. Someone affiliated with you and your interests.

Because this is about representation. Representation of you and your interests. Not just someone along for the ride and to sign a few papers and then swing back around and collect a commission check.

And if you have your own real estate agent, the agent has a fiduciary responsibility to you. They need to treat the relationship with care and trust. Look out for you and your interests.

But beyond that, they’ll help you understand the contract, and look for anything unusual. They might suggest some things to add to the offer and contract, like certain contingencies the builder may be trying to get away from including. They will negotiate on your behalf.

Your real estate agent will be able to help you decide between all of the options you have out there in the market. They will help assess the big picture. Maybe new construction isn’t the best choice for you. Maybe it is. Maybe this development is the best for you. Maybe it isn’t…

The Onsite Agent Works For the Seller/Builder

They are usually very nice people who are personable and friendly. They put you at ease as they show you the home and the neighborhood. They are very knowledgeable about the home, floor plans, lots available, and types of  upgrades because they often sit onsite in that neighborhood until all the homes are sold.  But they work for the builder and have a duty to do what's in the builder's best interests.....Not yours.

If a builder or their representative pushes you to not use your own real estate agent, that’s a huge red flag. Some may even give you an “incentive” not to use your own real estate agent, and say that they will throw in some free upgrades, or lower the price of the home.

A truly reputable builder will not push you to not use your own real estate agent. And they certainly won’t try and lure you with the temptation of free upgrades. Because that’s shady.

Most reputable builders go out of their way to deal with local real estate agents. They expect to deal with a real estate agent.

They’ve factored  commission into the cost of the home and will be paying it whether you have your own representation or not. 

Do This First

Before you just stroll into check out a model home, find a real estate agent to represent you. (If you already have on, skip to the next section…)

Interview and choose an agent who will represent you.  You want someone sharp about the universal stuff, like negotiating, analyzing the deal, understanding the market, and you and your needs.  Hint Hint....Pick me! 

Then Do This

Now you can go check out model homes…

But don’t just wander into a development or model home on your own and have a look see.

For the first visit, go with your real estate agent. “Register” at the site, and reserve the right to representation by your real estate agent. (If you do not go with your agent on the first visit, it can be a mess trying to involve one afterwards.) If you do stop by without your agent, make sure you let the onsite agent know you are working with a buyer's agent. Don't discuss anything that can harm your negotiations. Let the on-site agent know you will return with your agent to negotiate if you decide to move forward. 

While you don’t technically need your own real estate agent, there’s certainly a lot of benefit to having one…and a lot of potential downside to not having one.

If you have any questions about the process, don't hesitate to contact me! 

Please note this guide is meant to provide a few helpful tips if you are beginning the process of selling your home during this difficult time. It is not intended as legal advice, and you should consult your attorney before making any legally binding decisions.

I genuinely hope this topic doesn't apply to many of my readers but it can help those who are dealing with divorce.

DECIDE IF ONE SPOUSE CAN AFFORD TO KEEP THE HOUSE

The first step is to decide who, if either of you, wants to keep the house and can afford to do so on their own income after the divorce is finalized. 

If one of you decides to keep the house, the next step is to work out the details of transferring ownership in your final divorce settlement. Consult your mediator or attorneys for this process. Ultimately, if payments are being made, you'll need to refinance so only the spouse keeping the house is on the mortgage.

 IF NEITHER OF YOU KEEPS THE HOUSE......

Then, it's time to start planning to sell the home as part of your divorce settlement. A real estate professional can help you determine how much your home will sell for under current market conditions. 

NO BS

This week I'm going to give some reasons why it's important to be upfront and honest, but also point out times it's important to keep things to  yourself. BS can refer to all manner of things and there are many different names for it: hogwash, crap, bunk, or as I'm calling it today, No Bullarky Stuff. 

We encounter different types of BS in our day to day lives but there is no room for it in the middle of something so important as your real estate transaction.  I am going to be brutally honest. Generally speaking, the BS can come from all directions and pretty much any party involved in the transaction. It can be limited and shut down, as long as it's addressed upfront, but it seldom is, because many find it awkward or uncomfortable to address at the appropriate time. 

A great many problems and  issues that arise during the home buying or selling process could be prevented by discussing expectations, time frame, and options in the beginning.  You don't have to talk to many buyers or sellers to hear some unfortunate and disturbing experiences. Many people will be quick to share their less than high opinion of real estate agents. Often, even in these situations, the agent has good or misinterpreted  intentions but doesn't communicate things their buyer or seller needs to hear because it may not be what that buyer or seller wants to hear.  The agent may not want to risk offending them. Experience has taught me that it's much better to give a buyer or seller realistic outcomes for their specific circumstances. That way I can spend my time doing what I tell my clients I am going to do rather than explaining why we aren't getting desired results. 

On the other hand, I don't know if you could find an agent who hasn't had avoidable and bad situations happen to them as well.  Maybe he or she spent an exorbitant amount of time with a buyer only to have that buyer use another agent to make a purchase. Or they  find out that the buyer they have  shown property to for months or even years (missing countless family dinners and important gatherings)  doesn't have cash on hand or a pre-approval for financing as they verbally indicated.  Maybe an agent has lost one too  many listings because he/she gives the seller a realistic market range and plan based on the seller's situation but the seller chooses to list with the agent who agrees to list at a higher, though unsupported and unrealistic price.  So, I understand why an agent may be tempted to initially list the property under circumstances that will prohibit it from selling in a timely manner (price, condition, etc.) and hope they can work on those throughout the listing period, but this is not a good plan for many reasons that range from giving a client unrealistic expectations /hope to damaging the chance to sell quickly and for the most money,  to causing diminished trust in future suggestions and advice.   

Many of these scenarios  can be avoided by being upfront and honest about realistic expectations, communication, and good ole  professionalism.  I allowed some of the previously mentioned  things happen when I was a new agent and I totally understand how awkward it can be to bring up pre-approvals and buyer agency, but it's absolutely necessary  to be able to commit and give the sort of professional assistance a buyer deserves. Also, more truth:  Every time I got 'burned', I could have avoided it.  That's why I don't subscribe to the 'Buyers are liars' mentality but am a firm believer in the 'Agents need to be better explainers and not complainers' mentality. 

This is a vicious cycle and trust can't be established in an instant. It will help for buyers and sellers to know what an agent is ethically bound to do according to who (and how) he or she represents.  It's ultimately the real estate agent's job to give potential buyers and sellers the information they need to make informed decisions. The transaction should never be about the agent and always be about the buyer/seller who is being represented.

Sometimes buyers and sellers are sharing things that harm their negotiations and don't even realize it. Other times they hold important information back from the one who truly needs to hear it in order to represent them the way they need and deserve. 

It's important to understand how Real Estate Brokerage Relationships work. You should get a copy, review and make sure you understand what it means before speaking with any real estate agent about anything other than general information and questions.  A listing agent works for the seller. A buyer's agent is bound to work for the buyer's best interests. A dual agent  can't give information to either party that would harm the other's negotiations or best interests but those relationships have to be established in writing. The duties and obligations of having a client/agent relationship are a two- way street. The agent has duties to a client that go way beyond what customers receive ( which are honesty and disclosing any known defects). The purpose of  listing and buyer agency contracts are not  to keep a buyer or seller from working with anyone else but to establish what each party agrees to do for the other and what terms are agreed upon. While it's true that some agents have  different ideas as to what excellent client service should consist of, there is certainly a standard that every client must get. 

While I can't go over every scenario, there are a few that come up over and over.

-Why Buyers Don't Want to Sign Exclusive Buyer Agency

Buyers may not want to sign to work exclusively with a buyer's agent because they may feel like it's just a way for that agent to keep them from working with anyone else. They think that they, the buyer, will end up doing all the work and the agent won't show them homes, give them requested information, negotiate fairly, or basically  anything  other than show up for a commission check when the deal is done. Or many buyers have the misconception that they can just call each and every listing agent and that listing agent automatically represents them for free where they, the buyer, would have to pay a buyer's agent. I don't recommend that a buyer sign with the very first agent they encounter. It's important for each party to understand the other's expectations and establish some level of trust. Until that happens, there is no need for a buyer to be spending hours on the phone, driving all over creation to preview homes, scheduling each appointment separately with various agents and possibly giving away information along the way that can adversely affect future negotiations.  Since real estate commission is determined in the seller's listing agreement and there is a pre-determined amount designated for the buyer's agent, a buyer can have representation at absolutely NO COST to themselves.  The seller pays the same amount whether the buyer has their own representation or not. 

I tell people who randomly call me about a property that I'm happy to give them general information or send them listings.  I understand why they wouldn't want to sign to work exclusively with me before they even meet me or understand my level of commitment.   In this case, if they want to see a house, I  offer to do a one  day buyer's agency that only covers the homes we view that day. By the end of the day, if we haven't found 'the one',  we either have a great comfort level and understand each other's expectations or at least feel comfortable enough signing another short term agreement. I honestly don't want to sign a six month exclusive agreement with a buyer I know nothing about. If I am confident I understand expectations and honestly think I can help achieve the buyer's goals, I enter into a longer term agreement. I go above and beyond for my clients and while I understand they don't know my level of commitment until they work with me awhile, I don't and will not provide client level services to customers who won't commit to at least one day. While I am happy to answer questions and send listings with no pressure or obligation, provide honesty and disclose known defects (every agent is ethically bound to those last 2), it wouldn't be fair to my clients if I gave client level service to everyone. Plus, in the current market I  have to be able to show homes right away to my buyer clients so they don't miss out. I would rather provide excellent client service to those who are willing to commit to me, than mediocre service to everyone.

The following topics  will be addressed in a future No BS Zone blog: 

-When and Why Agents Ask for Proof of Funds or Pre-approval

-Why Sellers May Not Trust a Listing Agent or Take Their Advice

-Seemingly Innocent Things a Buyer Should Always Refrain from Sharing 

-Seemingly Innocent Things a Seller Should Always Refrain from Sharing

While I completely understand why there may be some trust issues, I am determined to share some ways to overcome them to ensure that your real estate transaction is as smooth as possible! 

If I can help you with your real estate needs or you  just have answer a general question, don't hesitate to contact me! 

Mary Childress is Not Your Typical Realtor. This is Not Your Typical Realtor Bio. 

You may not be impressed with typical real estate bios. Don’t worry, I’m not either. They’re like cardboard—stiff, bland, and identical to every other bio out there. Instead of boasting ad naseum about awards and accomplishments you’re not interested in, I’m taking the novel approach of actually giving you want you want—real answers to questions you’re probably wondering right now.

Will Mary Childress return my calls and emails? 

Yes. Without question.

I realize this is one of the major frustrations the general public has with dealing with agents. I get dozens of calls and emails daily and I work hard to reply as quickly as possible.

Some past agents have gotten pushy with me when I didn’t want to list with them, not communicated after I signed on the bottom line, or gotten defensive when I want an update or question their methods. Is Mary Childress a jerk?

Depends on who you ask. Certain people who have stood between my clients and their real estate needs might not see my kindest and gentlest side. I can assure you that I am honest and candid. I take pride in being approachable and friendly. And if you need a quick real estate brain, or a strong dose of honesty, you’re in the right place. Loyalty to family, clients, and friends is one of my core values. People who mess with my people are the only ones who may think I’m a jerk.

Do you have experience doing exactly what I need?

These are ‘strong suits’ of mine:

-Listing and aggressively marketing homes to get desired results for my seller clients. (AKA getting their property SOLD!) I often help those who have listed previously without getting desired results.

-Willingness and ability to successfully help buyers and sellers who have unique circumstances. One example would be short sales: Sometimes homeowners need to sell when they don’t have enough equity to do so. I love it when things are smooth and easy, but I get a deep sense of satisfaction helping a client with the transaction that others didn’t want to or couldn’t help with.

-Helping buyers get the most home for the best price. I also make sure they understand the process and give them the information they need to make informed decisions in the search, negotiations, inspection process-all the way to closing and beyond.

Problem solving-It’s not that I look for difficult deals. I love it when things are smooth and easy. But if something unforeseen happens along the way, I will not panic. I will not give up. I will work diligently to provide viable options while keeping my client informed every step of the way.

If your goal or situation isn’t represented on that list, don’t worry.  Contact me anyway. If I can’t help, I can get you referred to another agent who can.

What kind of work are you really good at?

On a personal level, I’m pretty good at cooking. (I make a mean lasagna!) I’m working on my gardening skills though there have been some disasters on my quest to have a green thumb. (I can share a few funny stories about that when we know each other better).

On a professional level, here are the skill-sets that I’ve developed over the years:

-Listening. Unfortunately, it’s a lost art

-Problem Solving. See above. I always have a back-up plan plus a team of professionals I can consult for advice. My creative thinking is a huge plus in this industry.

-Handling Pressure. On a daily basis I deal with a myriad of tasks. Once I find the right house for my buyer or find the right buyer for my seller’s home, I have to help negotiate and deal with the many things that come up during the process until closing. I not only can handle my full schedule but absolutely thrive on it.

-Work ethic. So important. As an agent I not only know who I work for, but I make sure everyone else understands this as well. And I NEVER make a transaction about myself. It should always be about the client and his or her best interests. I make sure my clients have the information they need to make informed decisions. Once their decision is made, I work hard to get them the results they have instructed me to get for them.

What do clients think of you?

My clients are better suited to answer this for you. You can check out reviews on my website: MaryChildress.com or on my Facebook page Mary Childress, Realty ONE Group Dockside.

Here are a few testimonials:

“My wife and I absolutely loved working with Mary. We had our house on the market for 8 months with very few showings and no offers. We decided to go in a different direction and on a friends recommendation we chose to list with Mary. She had our friend’s house under contract within 8 days a year or so prior to us listing and we thought surely that won't happen for us, and we were right it didn't... She had us under contract in 6 DAYS! She guided us through the entire process, and was always easily reachable. Mary you were a blessing to me and my family and I can not thank you enough!”

“Mary Childress is incredible. I can’t say enough great things about her. She sold not one, not two, but three properties for us all in a year’s time. She made it extremely easy and seamless each time. I highly recommend Mary for all of your real estate needs. We are more than pleased with her. Thank you Mary for all you hard work.”

“If you are looking for the best real estate agent in the area, you've definitely found her!”

“Mary represented me throughout my home purchase. She was a veteran advocate on my behalf. Professional, polite, and tenacious when the need arose. I recommend her every time I am approached about real estate on the Grand Strand.”

“Mary Childress is a wonderful realtor!! She helped me in multiple ways in my efforts to find the home for me! I'm thankful she put up with my constant requests for her to find me different types of listings until I found THE ONE for me! Once I found it, Mary made a seemingly overwhelming process completely smooth and simple! I can't thank her or recommend her highly enough!”

 “I loved working with Mary for the sale of our home! She is very personable and professional. She did everything possible to get a quick sell! I highly recommend her to anyone selling or buying a home. I am sure to call on her again!”

 “Mary is very dedicated to her clients and GETS THE JOB DONE!”

If you would like to see a more conventional bio with my sales, my company bio, what awards I have won, what committees I serve, and what charities I actively support, I can make that happen! 

Don’t hesitate to contact me if you are looking for a full-time, dedicated, hard working, and no-nonsense real estate agent! 

Look, a squirrel! 

I was walking my dog, Samson, yesterday and a squirrel ran across the sidewalk about a block in front of us, but Samson didn't miss it. He momentarily forgot about his obedience training, his manners, his dignified pace at my left side... all of that.  He just wanted to go check out that squirrel. I couldn't really get upset with him, because first of all, that's pretty normal behavior for a giant Mastiff overgrown pup and also because I, too, suffer from the "Look, a squirrel" syndrome. 

It's not that I can't focus.. I just very much practice the art of multi-tasking. If I am with a client, I do give them my undivided attention, but if I am working in the office, I am all over the place.  I don't leave until I get everything on my work list done, but sometimes (often) my personal to-do list grows instead of getting any smaller. 

This blog is a perfect example. I enjoy writing. I have lots of ideas in my head that I'm convinced could fill several best selling novels. I just don't make time to write. I seldom even read these days-unless you want to count contracts, real estate related articles and continuing education information. I intended to write a weekly, personal, interesting yet informational post that covered things that buyers and sellers want and need to know but aren't typically emphasized.  Though I have posted some useful information and topics that may be helpful to some, it hasn't been very personal and has definitely been all over the place. 

In fact, I am going to spend time today making a list of possible blog topics. I will stay focused on that very task no matter what. Unless Samson needs a walk. Or someone calls me to find our how much their home is worth. Or somebody needs information on a house that just went on the market. Or maybe somebody needs a recommendation for a thorough home inspector, or closing attorney, or insurance company, or roofer, or.....Look a squirrel!  

10 Things To Do After You Are Under Contract

MUST DO A.S.A.P. STUFF!

1. Earnest Money - (Good Faith/Deposit) - Money that says you're real and serious about buying the house. Make sure it's delivered to my office, your closing attorney, or me (whatever is most convenient for you) in the time and format as stated in the sales contract.

2. Property Inspection - Choose your inspector(s) and get them scheduled ASAP to determine if any repairs are needed. A general inspector is able to give you an overall report on the house and if he feels something should have a second opinion. This is your time to have foundation checked, pest control, plumber,electrician, etc. come check it out and give the OK.

3. Lender Docs - Once you're under contract your lender needs to know ASAP. I will send him/her the contract. (as well as to your chosen closing attorney) Make sure to get them all the requested documentation on time. This means as soon as they are requested!

WHAT'S NEXT?

4. Title Work – Your attorney will initiate the title search and exam (This makes sure this house actually becomes YOUR HOUSE ) They will be checking to make sure your new home doesn't have any previous tax liens, federal liens, or judgments. Be sure to review the title commitment once you receive it from them. I highly recommend asking them about title insurance.

5. Appraisal - The appraisal should be ordered as soon as you have performed your inspections and resolved any issues. This is something you'll have to pre pay to your lender. (Some lenders will allow you to give them a credit card to hold in case you’d prefer the appraisal to be paid at closing.) Are you keeping track? That’s *inspections, earnest and appraisal you'll have to pay out of pocket before you close on your home. I can help estimate these fees.

6. Insurance - Choose your home owner’s insurance provider and provide the relevant information to attorney and your lender. Don't know who to use? Drive for like 2 minutes and I'm sure you can find one on a nearby billboard. Or just ask me and I’ll be happy to make recommendations.

FINAL STEPS!!!

7. Turn On Utilities - Schedule all your utilities to be transferred or turned on before closing or you'll be spending your first night in your new home in the dark and with no TV.

8. Schedule Closing - Schedule your closing early to make sure the closing attorney has a convenient time slot open. It takes about 45 minutes to an hour and most are open Monday-Friday. Some close early on Friday. Also, please note that in Horry County, keys are not given when you sign but when the deed actually records. So if it’s important for you to take occupancy of the home on closing day, let me know so I can help get you scheduled accordingly.

9. Final Walkthrough - Before closing, do one final walkthrough to make sure that everything is ready for closing...and that the previous owners didn't leave you any surprises.

10. Close The Deal!!! - Bring your photo ID and make sure you have gotten wire instructions from attorney’s office. You should get these in person or over the phone, NOT via email for risk of attempted wire fraud. Your lender WILL NOT ever change the wiring instructions via email. Some attorneys allow you to bring a cashier’s check but suitcases full of money are not allowed.   Be sure to be on time!

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If you have any questions about the home buying process, don't hesitate to contact me. I make sure my clients are informed every step of the way.