There are several gated golf course communities in Park City, each with their own development team. I partner with the best agents in each community because I think this strategy best serves my clients. They get an internal development expert and an external, objective voice. Club rules and development details change from time to time and it makes sense to involve the on-site team.
There are also many other types of communities in our market, from single family to condo-hotels, with development agents. Since many of my clients like the appeal of new construction, I have made it my business to develop great relationships with these agents as well.
But should you have one of these agents represent you as the buyer?
Here are some things to consider:
1. The agents always work for the developer. The developer hires their own
sales team and those agents have a fiduciary responsibility to the
developer/seller.
2. The developer agents can typically sell property in that one development.
They are experts in their development, but it’s harder for them to compare
their development against another because they don’t have the exposure.
3. The developer agents are used to working with developer contracts, which
are generally non-negotiable. They may not push the developer/seller to
offer concessions. They may not explain the entire contract to you. A buyer’s
agent will be able to explain if there is some term in the developer’s contract
that is more or less advantageous than those in similar developments.
4. A buyer’s agent can help you decide which club membership alternative is
best for you.
5. A buyer’s agent familiar with many communities can provide inside
information about the reputation of the developer’s build jobs.
6. A buyer’s agent will show you the developer properties as well as resales.
Developer agents may not be incentivized to show you resales.
7. A buyer’s agent can help you with upgrades, by advising which will be the
most advantageous for resale and which won’t matter.
8. A buyer’s agent will monitor all the contract deadlines, help with the final
walk through, and be your advocate for the completion of punch list items,
even after the closing.
If you interviewed the buyers I represented in the post-Covid era who purchased
new construction, I think all of them would tell you that they were glad they had an
advocate on their side. It makes sense to have someone on your team who has a
fiduciary responsibility to you, not the seller. I love familiarizing my clients with all
the beautiful new communities in our area and helping them choose the one that is
the best fit for them.