by To provide full buyer representation on new construction homes, Rich Noto keeps the process simple and structured. Here is what buyers need to get started:
1. Signed Representation Agreement (Required NAR Regulation as of August 2024)
Buyers must sign a representation agreement for 6 months minimum with Rich Noto and Dalton Wade. A agreement has been required since August 2024 and establishes the working relationship.
Builders, along with their title and mortgage companies, will also request this agreement to verify compensation terms. This helps ensure buyers are not being charged more than what the builder is paying the Realtor. In some cases, buyers working with other agents have been asked to pay additional fees beyond the builder’s commission, which can impact affordability, and even cause issues with mortgage approval. Many buyers are failing mortgage approvals due to being responsible for extra Realtor fees.
Note: The agreement is required before Rich can offer advice about locations, tour homes, recommend home inspectors, contact builders for buyers, or anything that falls under WORKING FOR THE BUYER.
2. Pre Approval or Proof of Funds
Resale Sellers, Builders and their sales representatives will ask for this usually within the first few questions. Without pre approval or proof of funds, there is no clear way to determine what a buyer can afford or which homes are a realistic fit. Having this ready keeps the process efficient and focused. Builders and many Realtors encounter fake buyers often. Fake buyers never want to get approved.
For buyers paying cash a bank statement or certified letter from your financial institution stating the cash amount to cover the homes price is required
If not approved Rich will help you with the process after the agreement is signed.
3. Initial Contact Before Visiting Builders
Buyers should connect with Rich Noto before visiting any builder or model home to avoid losing eligibility for representation.
4. Builder Registration With Realtor
When visiting or registering with a builder, buyers must list Rich Noto as their Realtor during the first interaction either online or in person.
5. Open Communication
Buyers should share their goals, budget, preferred areas, and timeline so the search can be focused on the right communities. Advanced scheduling to see homes is required. Please contract Rich for availability as he has other customers.
How Buyers Get Free Representation Paid by the Builder
One of the biggest advantages of working with Rich Noto is that buyers typically receive representation at no cost.
Builder Pays the Commission
Builders may include Realtor compensation in their sales and marketing budgets. Rich Noto accepts what the builder is paying for representation. A separate form is used to adjust the agreed commission so it matches the builder’s offered amount. The builders may set the agent’s commission based on a per house amount or per community or per build or completed house.
No Additional Fees to the Buyer
Rich Noto does not charge transaction fees, broker fees, Realtor fees, or any additional fees to help manage the build process.
No Increase in Purchase Price
The price of the home does not increase by using a Realtor. The commission is already built into the builder’s pricing structure.
Avoiding Extra Costs That Can Impact Approval
By aligning compensation with what the builder pays, buyers avoid unexpected charges that could affect loan qualification or delay approval.
Professional Guidance at No Cost
Buyers receive expert support, construction insight, and help navigating the process without paying out of pocket.
Support Throughout the Entire Build
From selecting the right community to walkthroughs and inspections, buyers have representation every step of the way.
Why This Matters
Many buyers visit builders without representation or do not fully understand how compensation works. By getting set up with Rich Noto early, buyers avoid unnecessary fees, stay within lender guidelines, and gain expert guidance at no cost to them.
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I’m Rich Noto, a Florida Realtor & Home Inspector with a focus on the best price house, and quality new construction oversight. I specialize in new house purchases which includes getting homes built to Florida Residential Building Codes and Manufactures Installation Instructions.
I help homebuyers beyond the “standard Real Estate sales agent” (who may disappear after purchase contract) by dealing with sales, construction managers, attending/monitoring inspections, and spotting defects. This helps buyers catch problems early.
Builders pay my commission so my service costs buyers nothing. Does not apply after buyer is in contract(all builders) or has contacted the builder alone(some builders). This top rated service is available at any town throughout Florida.
Any agent can “sell new homes” or be a “high volume seller” or have “builder relationships”. Sales marketing has nothing to do with understanding constructions defects. Home Defects are the main expense a homeowner will have and can cost home owners thousands of $$$. Depreciating future resale value.
I enjoy teaching my customers how new homes are built. How to identify water intrusion. And the steps to keep a house well maintained to prevent leaks over time. Out of state buyers get special walkthrough and inspection videos.
Whether its a completed move-in ready inventory house, or a to be built custom on the land, or a spec house. You deserve the best quality for your money.