The Person in the Model Home Works for the Builder, Not You
Key Takeaway
The person greeting you in a new construction model home usually works for the builder and represents the builder's interests. A fiduciary is legally obligated to put your interests first. Before you visit a builder, have your own independent realtor in your corner for contracts, pricing, upgrades, inspections and timelines.
Hello there. I'm C.W. Ross, and today I want to explain an important word in real estate: fiduciary. It matters more than most buyers realize, especially if you're shopping for new construction.
What is a fiduciary in real estate?
A fiduciary is someone who is legally obligated to put your interests ahead of their own. That means:
- Loyalty
- Honesty
- Full disclosure
- Confidentiality
- Negotiating in your best interest
Who does the person in the model home work for?
If you walk into a new construction model home, the friendly person there usually works for the builder. They represent the builder's interests, not yours. They can be helpful, but their job is to sell homes for the builder.
What does your own realtor do for you?
Having your own independent realtor means you have someone in your corner through the whole process:
- Reviewing contracts
- Helping with pricing
- Advising on upgrades
- Coordinating inspections
- Keeping an eye on timelines
- Protecting your side of the transaction
Having someone in your corner through all of it isn't a luxury. It's protection.
Call before you visit a builder
When buying a home, especially new construction, you deserve your own advocate. Before you walk into a model home, make sure you have someone walking in with you. Learn more about the home-buying process, and if you'd like guidance, contact HomeCoach before visiting a builder. I'm C.W. Ross, your multigenerational HomeCoach and real estate planner.
Frequently Asked Questions
What is a fiduciary in real estate?
A fiduciary is someone who is legally obligated to put your interests ahead of their own, which means loyalty, honesty, full disclosure, confidentiality, and negotiating in your best interest.
Does the salesperson in a model home represent me?
Usually not. The friendly person in a new construction model home typically works for the builder and represents the builder's interests. They can be helpful, but their job is to sell homes for the builder.
Why should I have my own realtor for new construction?
Your own independent realtor reviews contracts and helps with pricing, upgrades, inspections and timelines, protecting your side of the transaction.
When should I contact a realtor if I'm considering new construction?
Before you visit a builder. C.W. Ross recommends calling him first so you have your own advocate from the start.