The Selection Process: Your REALTOR’s Fidiciary Duties
Posted January 5, 2008
Just when you think you’re through…you’re hit with the selection process (floor coverings, cabinet styles/colors/accessories, appliances, etc.) and, you’ve got your work cut out for you! There’s more than meets the eye when it comes to selections. I have been involved in this process with my clients several times in the last month, today being the most recent. So, I thought I would share my coaching ’style’ that I use with my new home Buyers. I am posting this on ActiveRain to ease the ’stress’ of this part of the transaction for you and so that my distinguished peers can make additional contributions to further assist you at this very excitinig time in the homebuying process.
1. Your first step after choosing the right home, condo or townhome, and AT Contract-signing, be certain that you know when the selection process will take place. Mark that date on your calendar!
2. About two weeks prior to the meeting, as a REALTOR, I email or hand deliver a note to my clients; this note includes the following points: 
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On __date & time , you are meeting with the builder’s decorator to select your flooring, cabinets, appliances, door knobs, cabinet handles, plumbing fixtures, light fixtures, shower doors, countertops, (and any other item which the builder allows you to select).
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It is my job to let you know that you will be allowed to select the ‘standard‘ items or ‘upgrade‘ your selections as you so desire. The following are standard: (I provide the list of standard items)
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The costs to upgrade each item is as follows (list the upgrade charge if the builder has shared that with me). If not, ’The cost to upgrade each item will be discussed at the selection meeting.’
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Below is a list of independent vendors who can provide the materials and the services to upgrade each of the items OR if you’re handy around the home, you may ‘do it yourself.’
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Attached is a copy of the floorplan with the room measurements which should assist you in getting accurate costs for each ‘project.’
3. YOUR homework assignment, as a Buyer, is to contact any of these vendors (or those vendors of your choosing) to determine the cost of upgrading–i.e. changing the carpet to hardwoods.
4. Some Buyers even bring their own decorator who already KNOWS their taste/style for an easier selection process. It has been my experience that the builder’s decorators do a fine job but, this is again, YOUR choice. 
5. Make certain that you allow plenty of time to make your selections as it can be a long process! I recommend at least 2 hours. And, be punctual!
6. Now, you’re armed and ready to compare the builder’s charges to upgrade and your cost if you chose to make the changes after Closing. OF COURSE, you can simply choose NOT to do the research and select the builder’s upgrades and your home will be complete AT Closing and you’ll have no more changes that need to be made.
So, when you’re ready to make the selections for your new home, please remember that your REALTOR is a REALTOR, not a financier, contractor or a decorator–at least not in MY case!! As a REALTOR, I don’t ever want a client to regret making a choice that I recommend a year down the road–just because they thought I had more experience in this process! My decorating tastes are not always the same as my client’s!
Additionally:
- You also don’t want to ask your REALTOR what the cost of an after-closing change is, get a ‘guestimate’ and have it turn out to be MORE expensive than the builder’s price when all is said and done!
- Factor in the resale value for your upgrades.
- Calculate the upgrades in relation to the amount of time you plan to OWN the home–can a standard feature be just as cost-effective
- STICK to your budget!
Enjoy this exciting time and remember that if you’re prepared, the transaction will go quite smoothly!
Reprinted with permission.
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