Given the shortage of resale inventory in lower price brackets, new construction homes are luring consumers and inspiring a rise in building. This offers a great opportunity for helping buyers find the perfect home. However purchasing from a builder is a lot different than purchasing a resale home, and it’s essential for your clients to know the risks.
Real Estate Selling Tips for Avoiding New Construction Sales Pitfalls
– Make Sure Buyers Know Why They Need You
New construction sales teams represent the builder, with their interest at heart. With no agent representation, buyers are assuming a lot of risk. There’s no reduction in price/commission for purchasing without the aid of a buyer’s agent – builders don’t want home sales values to take a hit. Buyers won’t save any money, but lose access to a representative that will ensure key sales and build details don’t get overlooked or forgotten. Builders expect to pay buyer’s agent commissions, pocketing the difference when none exist.
– Expect to Negotiate
Builder’s reps will often give the idea sales prices are non-negotiable. While there’s not as much wiggle-room as resale homes, there is some leverage. For those that won’t budge, look to closing cost contributions or upgrades.
– Use Timing to Your Advantage
Knowing when to hold/fold can save your clients a ton: Builders aren’t emotionally attached. Big bargains can be leveraged if the builder has inventory that’s lingered on the market. Alternately, reserving a property before a second-phase addition begins can also mean big savings.
– Understand Upgrades
Get to know upgrades, ensuring buyers know which features of model homes are standard or an added cost.
– Educate Yourself . . .
. . . on architectural and site design, blueprint reading, construction methods, and materials so you can assist clients in making the best choice for their new home.
Do you have the real estate selling tips you need to navigate new home sales? Secure a brighter future with the help of PropertiesOnline today.