And what I mean by knowledge is knowing the product that you sell—the parts and pieces of a home as well as the new-home sales process from soup to nuts. Would you buy a car from someone who doesn’t know what antilock brakes are? How much trust would you have in that salesperson, and could they truly call themselves a professional? Buyers need to first buy into you before they buy anything from you.
TW: What would you say to brokers and agents who consider new homes just a niche?
DS: It’s one incredible niche, and it’s a niche that continues to grow when you do it right. Here’s a perfect example: In 2005, we started working with a builder who had a small 10-lot subdivision. His next project was 30 townhomes. We then helped him market 40 condominiums, and his latest is an award-winning project with 92 properties. So, over an eight-year period that included the most difficult real estate market most of us have ever seen, a single builder brought sales of more than $160 million into our company.
I assure you, these opportunities are out there and new-home sales are coming back with a vengeance. I encourage brokers everywhere to prepare themselves to make the most of the wave that’s coming.
Teresa Walsh is a founder and owner of Dennis Walsh & Associates, Inc., based in Newport Beach, Calif., which is recognized as real estate’s No. 1 source for training and sales tools specific to new-home sales and residential construction.
For more information, visit www.sellnewhomes.com.