Questions to ask a REALTOR for your new Chicago Home Search
Just because a Chicago real estate agent is a REALTOR does not automatically mean they are experienced in new home sales. We've worked with two of the largest and most recognized franchises in the world and unless a REALTOR took it upon themselves to learn about new construction, there is no mandatory company training concerning new home sales.
Here are some questions you should ask a REALTOR before making a commitment to work with one knowledgable professional that has your best interest in mind when purchasing a new Chicago home or condominium.
Can the REALTOR easily send you New Chicago Homes or New Chicago Condominiums online for you to view?
This is the first sign that a REALTOR has made a commitment in their business to help their clients search for new Chicago homes. Pulling out new home builder brochures from the drawer and loading everybody up in a car to go look at every new home community in a given suburb went out with low gas prices.
The MLS is also a very ineffective way to search for new Chicago homes or condominiums. It was designed for resale homes, not for new homes and is not even remotely complete on your potential choices for new construction.
A REALTOR knowledgeable in new Chicago home sales should have an extensive and current database of new homes available that includes current prices and floor plans for you to easily view online.
Is the REALTOR a Certified New Home Specialist (CNHS)?
While this is not a make or break question like the one above, it is a good sign that a REALTOR who is a CNHS is leaps and bounds more knowledgeable about new construction then a regular real estate agent. A Realtor that can use the CNHS designation after their name is one that has taken the time to take an extensive educational class on new home construction and more then likely knows more about construction then a "sales" agent.
Using an Illinois Real Estate Broker who is also a Realtor can be much more beneficial then just using a regular real estate agent since the requirements to obtain a Real Estate Brokers license is much more extensive.
The Realtors Experience in New Home Sales
Purchasing a new Chicago home is a differant process then your standard real estate purchase and they should be able to explain to you the differance in the deposit amounts, when the deposit is non-refundable and the down payment percentages required. They should also have an understanding of construction lending and be able to understand the ramifications of spending too much money upgrading a new Chicago home.
Most new home builders also have two prices. The base price that is advertised and the final purchase price that includes all of your upgrades. Some new Chicago home builders include a lot of amenities in their base price while others do not and have extensive mark ups. A REALTOR knowledgable in new home sales should be able to easily explain this to you. Just because one new Chicago Home builder has cheaper prices for a similar style of home in a similar location, does not mean it is a better value.
Also, more often then not, most Chicago new home builders use their own purchase contracts written by their Attorneys primarily designed to protect all of the liability that comes along with building new homes or condominiums. Some have even used clauses in their contracts that allows them to back out of the purchase agreement using a clever clause concerning the increase in construction costs.
Our Client for Life program is a strong commitment to always be there for our clients who have bought or sold a home through us. We obviously want to be the ones that are there for you down the road when you want to sell your Chicago home and we want to make sure that when the time to sell does come around, that your Chicago home will be the one that is desirable on the resale market... not the one difficult to sell!
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