Previous < Overview of the Fort Hood Area
Do You Need an Agent?
The very first step when considering buying a home is talking to a Realtor. Why? Because they can help you with every other step of buying a home:
- finding a lender
- learning the area
- understanding the process
- choosing a home
- setting expectations
If that weren’t enough, using a buyer’s agent is free to the buyer. The seller almost always pays both commissions: their agent’s commission and the buyer’s agent’s commission.
Realtors and Builders
Some buyers choose to work without a Realtor when buying from a builder. This is a mistake.
In addition to the benefits above, benefits of using an agent when buying new construction include:
- Look at comparable resale homes for sale. The same floor plan might be on the market for cheaper as a resale. Or perhaps an even better resale at a better price. Be sure not to neglect resale options!
- Consider other builders. There are over 40 builders in the Fort Hood area, and chances are a Realtor may know which of the 40 are worth exploring.
- Consider other lenders. The builder often has a preferred lender, but they are not always the best deal, especially if you are using a specialized type of financing like Tex Vet.
- Extract concessions. An agent’s knowledge of the builder’s situation or customary concessions may ensure you maximize what you’re getting from them.
Builders already offer commissions to agents, so buyers are not saving themselves anything when skipping out on representation. I highly recommend working with an agent whenever buying.
Who Represents Whom?
There are several different forms of agency in Texas. The bottom line is, you want your agent to represent you. For buyers, that means signing a buyer’s representation agreement.
The buyer’s representation agreement officially makes your agent your agent. Without a representation agreement, in Texas, the agent technically represents the seller. It is to your advantage to sign an agreement with your agent as soon as you are confident they are the right agent for you. Once signed, your agent has an ethical and fiduciary obligation to you.
Next > How to Choose an Agent