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Three Tips for Winning New Construction Listings
One of the most appealing kind of homes for potential buyers is new construction. This is because buyers are able to take part in building a brand-new house—catered to their aesthetics—and never before lived in. This creates a connection with the property that other types of homes can’t match. For successful real estate agents, having new construction listings is often part of their business strategy. Here’s what you need know to win new-construction listings:
Take Note of Extra Steps
Most of the time, agents are dealing with resale transactions or selling homes that have already been lived in. With new construction, however, there are extra steps that must be followed for a successful transaction. One of the most important aspects is the builder contract. The buyer’s rights must be outlined in that contract, with a specific focus on the buyer’s ability to terminate without having to give up the deposit money. All the inclusions and financing options need to be detailed from the builder, and the home’s features need to be detailed, noting which features are basic and which are upgrades. By understanding these extra steps and discussing your knowledge up front with builders or potential buyers, you’ll be seen as an expert in this type of transaction and be sought after for future purchases, whether representing the builder or the buyers themselves.
Handle the Increased Risk for Buyers
A good real estate agent is arguably the most important tool a buyer of new construction can have. A builder’s agent will only work for the interest of the builder, so buyers need their own agent to make sure their interests are protected. Many of the important details in new construction can be easily overlooked by a lone buyer. A buyer’s agent will spot those details, and they can ensure that any agreed-upon upgrades and special features are installed as described in the contract.
Get Good at Analyzing Builders’ Contracts
When an agent has enough experience analyzing builders’ contracts, new-construction sales are almost easier than typical resale transactions. Showing off your knowledge and experience with these contracts is a good way to win new-construction listings. Put simply, the more new-construction listings you win and successfully close, the easier it is to keep winning more. The most important thing to remember when honing your skills is that these contracts are designed for the builder’s benefit, using explicit language to do so. Being able to point out this language will make you invaluable to buyers.
Analyzing and winning listings for new construction can certainly be a challenge, but that only makes success that much more satisfying. Don’t hesitate to embrace new-construction listings and enjoy the benefits they bring to you and buyers.
Make the Final Step in the New Construction Purchase Seamless for Your Clients
Your client has found the new home they love, the contract has been signed, and now comes the last steps in their transaction. This is when agents hand over the information to the title company to get everything ready for settlement. If the closing process goes bad, it reflects poorly on the agent. That’s something we understand at Velocity Title, which is why we strive to exceed your client’s expectations from start to finish. Utilizing the latest title technology, resources, and industry experts—we make sure your client’s unique needs are always met. See what Velocity Title can do you for and your clients here. Or contact us today.