How do you pre-sell a new construction project before people can even see it? Many developers sell out their projects well before they are complete. Continue reading this article to learn these sure-fire tips for getting the sale before you complete your project.
Selling New Construction
If you're wondering how other people are selling their projects before construction is finished, we're about to out their secrets. The good news is that these things they are doing aren't hard and you can do them too.
Debunk Real Estate Agent Myths
If you're an agent trying to sell these new properties, some clients may think that they can get a better deal if they don't use an agent. The truth is that builders won't take down the price of the home even if there is no agent assisting with the listing.
The reason builders don't want to sell the homes for lower is that it can hurt future sales prices. They may have other reasons as well so make sure to educate any buyers that think they are going to get a deal without having someone helping them go through the process.
Partner with Specialized Agents
There are some agents that are specialized in selling new construction. There is a certain skill they have that allows them to cast a vision that makes people want to buy.
They often have tools that help them close the sale as well. Before you work with agents, make sure to ask them if they have experience selling properties that aren't built yet.
If you want to learn how to specialize in this area, the best way to get there is to work with someone that already knows how to do it.
Become a True Consultant
When you talk to people that are thinking about working with you to find their new home, you need to become a true consultant. It is easy to get caught up in what we already know, but it important to pay close attention and listen to what the client needs.
As a true consultant, you'll ask questions like, "what are your must-haves?" and "what is a deal breaker for you?"
When you know things like this, you'll be able to help them find their new home much easier. If you fail to get the information you need, you won't be able to paint the picture so they will buy the new home you're showcasing.
Offer a Lower Price for Early Buyers
In some cases, builders will offer a lower price to early buyers. This lower price is different than offering a lower price from not using an agent.
The lower price is for acting early and buyers that come later in the game understand this and won't be as likely to resist paying the higher price. Since buyers won't have to wait as long for their construction to finish, they are often ready to pay higher prices than those that came in the very beginning.
Use 3D Renderings
Not everyone is able to use their imagination to the extent some people are, so keep this in mind as you're talking to people about the new construction.
Simply telling someone about how great a home is going to be isn't likely to work. Only true visionaries and risk takers are going to go for a word picture.
A tool that will change the game in selling new construction projects is 3D renderings.
These 3D renderings take the guesswork out of what the new home will look like. Instead of asking someone to use their imagination, you can almost show them exactly what it is going to look like.
3D renderings allow potential buyers to experience their new home even before it is built. They will fall in love with the idea of their home and be ready to buy if you learn to showcase it properly with this technology.
The upfront investment of having 3D renderings finished is worth it since it will put you ahead of the competition. If your competition is using 3D renderings and you aren't, you're going to fall behind very quickly. Make sure you don't get left behind by learning what you need to know about this technology to get it up and running.
If you still aren't a believer that 3D renderings will change the game, try looking at listings with and without 3D renderings with clients and see what their reactions. You're likely to notice they gravitate toward the listings with 3D renderings.
Win the Sale
The above tips will allow you to put your best foot forward when selling new construction. As you're selling these properties, you can develop a reputation for selling new construction.
Since not everyone is able to do this successfully, your services are likely to be in high demand.
Using a combination of the above tips along with the sale technique you already know will allow you to start making more sales and bringing your real estate career to the next level.