Landing New Construction Listings
For many real estate agents, picking up listings for a new development sounds like a dream opportunity - and it surely can be! The bad news is, if you’re thinking of chasing down that opportunity, you are likely facing competition from scores of other local agents. How can you improve your odds?
For starters, imagine that you are a builder with a $250 million stake in a new development. What are you looking for in a sales agent? Someone with a proven track record, right? Someone who knows the market and regularly sells high- value homes. Someone with extraordinary market skills. Are you that agent?
If you are, how can you differentiate yourself from competing agents who want this gig as much as you do? Here are some tips from experienced agents:
- Know your worth - Have a provable track record as a successful local agent and marketer.
- Know the market - Understand what buyers are currently seeking in terms of price, location, amenities.
- Know something about new construction - How does it differ from re-sale homes in terms of what it offers to buyers?
- Know the development - When will the first stage be move-in ready? What does it offer the buyer in terms of options, value, location? What are the financing options?
- Bring in buyers - Nothing will impress the builder more than bringing a buyer or two, or more, to check out the development in its earliest stages.
- Meet with the builder - Ask for a 15-minute meeting and be prepared to impress with your track record, your understanding of the new development, and a concise marketing plan. You have a short timetable in which to present yourself as memorable, confident, able, and easy to work with.
- Be flexible - Builders can be bombarded with appointment requests by agents. If you can’t get through to the builder, try to contact the marketing/sales managers for every new development in your area. Identify yourself, give your best two-minute elevator speech, and ask them how you can help.
In today’s short-inventory market, new construction is a welcome opportunity in more ways than one. Be attuned to all new or planned developments in your local area. The sooner you can get the conversation started, the better chance you have of landing those new construction listings.
Barbara Pronin is an award-winning writer based in Orange County, Calif. A former news editor with more than 30 years of experience in journalism and corporate communications, she has specialized in real estate topics for over a decade.
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