FAQ: Buying a Home in Central NJ

How do I work with you and your real estate team?

You can learn more about working with the Cadence Property Group to find a home by clicking here.

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Is an agency agreement required in order for you to show me homes?

Yes, in order for a real estate agent to show you homes, an agency agreement is required. This is a crucial step that establishes a formal working relationship between you (the client) and the real estate brokerage and agent. 

Here's a breakdown of what that means:

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What an Agency Agreement Does

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An agency agreement, often called a Buyer Agency Agreement or Exclusive Right to Represent Buyer Agreement, legally binds the agent to work on your behalf. This document outlines the agent's duties to you, which include:

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• Acting in your best interest.

• Protecting your confidential information.

• Negotiating on your behalf.

• Helping you navigate the home-buying process.
   

This agreement ensures that the agent is committed to you as a client and not just as a casual customer.

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Why It's Required
 

This agreement is a legal requirement in many places, and it protects both you and the agent. For you, it guarantees that the agent's loyalty is to you alone. For the agent, it ensures they will be compensated for their work, which is typically paid by the seller's side of the transaction. Without this agreement, an agent can't legally represent you or provide advice, as they would be considered a "transaction broker" with no fiduciary responsibility to you.

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Should I use an agent to buy a new home in New Jersey

Yes, it's highly recommended to use a real estate agent to buy a new home in New Jersey. While a builder has their own on-site agent, that person's primary role is to represent the builder's interests, not yours. Having your own agent ensures you have an expert advocating for you throughout the entire process.
 

Key Benefits of Using a Buyer's Agent
 

• Your interests are protected. A builder's agent has a fiduciary duty to the builder, so they cannot legally represent you. Your own agent will act as your advocate, providing an objective perspective and making sure your needs are a priority.
   

• Expert negotiation. A good agent can help you negotiate for valuable upgrades, closing cost credits, or other incentives that the builder might not offer upfront. They also understand the nuances of builder contracts, which can be complex and are often written to favor the builder.
   

• Process oversight. An experienced agent can help you navigate the entire construction process, from reviewing blueprints and contracts to scheduling and attending inspections. They can spot potential issues that you might miss and ensure the build stays on track.
   

• Protecting your rights. In South Carolina, some builders require that your agent be with you on your first visit to the model home or new construction site. If you visit alone and sign in without your agent, you may waive your right to have them represent you later on, which can leave you without professional guidance.