By Dennis Walsh
RISMEDIA, Oct. 15, 2008-Now and then I remember back to the days when I was a young boy enjoying sunny days at my grandfather’s lake. I can also remember standing by his side one day as he worked to get my fishing pole set for me to take a stab at reeling in the biggest fish in the lake. Just before we climbed into the boat together, he paused to share with me one of the greatest secrets of success-the “Golden Rule of Fishing.”
“It’s as simple as this,” my grandfather explained, “if you want to catch fish, you have to fish where the fish are.”
He was right – that is simple, but it’s also powerful advice. It’s important to have all the right gear and all the skills to catch a fish, but if you don’t fish where the fish are, you’re wasting your time and effort.
The same holds true in the business of real estate. We’re fishing all the time.
One type of fish we’re after are real buyers-ready, willing and able to actually buy a home. In some markets, these fish are first-time buyers, typically renters, who are not faced with concerns about selling an existing home. Another possibility is identifying move-up buyers who are willing and able to price their existing home for a quick sale – allowing them to take advantage of a tremendous deal on another home that better suits their tastes and needs. In more and more markets, we are also finding empty nesters and seniors who are looking for a smaller, more efficient home that better suits their needs now that the family is out of the house.
Another type of fish we’re looking for are those sellers who are seriously motivated-ready, willing and able to price it right and get it sold. Although there’s an abundance of “sellers” out there, finding those who will come to market at a truly competitive price is still a challenge.
So where else to fish? The great news for many of us is that we have some well-stocked ponds right around the corner in new home communities. In many markets from coast-to-coast there’s an inventory of brand new homes available from extremely motivated sellers. Whether large builders with hundreds of homes on the books, or small builders with only a few, these homes have to be moved. Even one unsold home on the books is too many for a small builder. Not only are these new homes priced to sell, they typically offer excellent designs, great locations, the latest features, materials, and equipment along with brand new product warranties. For most of those buyers seriously in the market, these brand new homes are the homes they want to buy.
What’s important to recognize is that developing your expertise in new home sales offers not only short term business, but long-term opportunities as well.
Ken Culbertson, CNHS, RCC of Coldwell Banker Elite in Mount Laurel, NJ agrees: “I began working as a new home buyer specialist,” Culbertson explains, “and soon had builders asking me to take over their sales and marketing. We’re successfully growing our new home division as we continue to take advantage of these opportunities.”
Keep in mind that as new home inventories continue to level off, builders are eager to get back to the business of building. This has already begun in many markets. Falling land prices and construction costs will allow them to come to market with brand new homes at extremely competitive price points. Will you be positioned to help them market and sell these homes?
While some stand on the shore waiting for fish to swim to them, you can get out on the water and make sure you’re fishing where the fish are. Armed with the right tools, skills and knowledge, you can join those who are well-positioned to enjoy these opportunities for sales success both today and tomorrow.
Based in Newport Beach, CA, Dennis Walsh & Associates, Inc. is recognized as a leading source for training and sales tools for success in both new home sales and resale real estate business. More than 70,000 real estate professionals have enjoyed Dennis’ presentations including his Certified New Home SpecialistTM and Residential Construction CertifiedTM designation courses.
For more information, visit www.sellnewhomes.com or call 800.428.1122.
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