Course Code: 47105
Description:
Agents will learn to efficiently represent buyers during the building process. What to expect from the Tract and Spec Builders Reps and how to be a welcome asset. Agents will be able to effectively guide their client through building stages and selection process for lots, structure and features. Agents will be able to help their client navigate through 3rd Party Inspections and General Contractor appointments and be able to discuss new build financing, rate locks, closing dates, etc. related to the process.
Timed Outline for Effective Buyer Representation in New Construction
Tract, Spec or Custom (5 minutes)
Financing (10 minutes):
3 rd party vs. Builder’s lender
Qualifying through builder
Rate lock
Construction Loans
Tract/Spec Inventory (15 minutes)
Commission might be different.
Earnest money is due at Contract to secure the purchase
What is the estimated completion date?
Building Phases: (60 minutes)
Beginning/Permit Stud Completion On-site construction appointments with GC
3 rd Party Inspections
Completion dates are moving targets
New Home Orientation and blue tape party
Closing Day (Builder’s Preferred vs. Buyer’s Preferred Title Company)
Tract/Spec To-Be-Built: (60 minutes)
Neighborhood standard features
Look for what’s missing: Sod/elongated toilets/fans/walk-in showers/garage door openers/lights
What are the base price finishes (not necessarily what’s in the model)
Floorplan
Floor plans can be found online/at the model
Walk-throughs might be at a different subdivision
Elevation and lot
Get a list of lots for your client’s favorite floorplan/elevation
Lot premiums
Driveway placement
Proximity to others of the same
Structural choices:
Porch, fireplace, elevation
Exterior design finishes:
Masonry/trim/paint
Outside light fixtures
Interior design finishes:
Additional $$ down
Studio visit within 2 weeks of Contract, generally
Pre-selected packages