Know How to Sell New Construction?

The option of a new home gives buyers more to consider and agents more to sell. Start by visiting a builder’s open house and meet the staff.

NEW YORK – If selling new construction projects, agents should seek out open houses hosted by the project’s builder. They bring higher-ranking staff to one location, so Realtors can meet builders, contractors and internal sales staff with an eye toward networking and building relationships.

When there, agents should ask the kinds of questions buyers want to know – the kind that will help them eventually sell units. They should also exchange contact details.

However, the rules for new homes aren’t always the same as existing ones. Agents should always adhere to rules set by builders for how they collaborate with real estate agents. Those policies tend to straightforward, such as details about pre-notification.

Agents should be respectful of builders when they or their site sales team present one of their properties or host a walkthrough with a potential client. Agents should assume that the builder and their team are experts regarding the property and not interrupt as they show their work. If the builder’s representative doesn’t mention a feature or two that an agent thinks their buyer might like to know about, they should make notes during the walkthrough and point the additional details out later.

When walking through with a potential buyer, Realtors should ask pertinent questions that provide clarity, and allow the property developer to speak about a part of the project that places them in a positive light.

In general – just as with existing-home sales – agents should guide buyers into making a good decision. Buyers also need agents to advise them about the neighborhood and the builder’s track record to help them separate a good deal from marketing hype.

Finally, agents should familiarize themselves with optional upgrades, notably the difference between ones that can boost the value of the home upon resale and those that do not.

Source: Inman (11/04/22) Kennedy, Victoria

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