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6 Ways to Construct the Perfect Builder/Realtor Relationship
Since 2012, home builders have had the opportunity to feed listings directly to the MLS system used by sales associates around the country. It was a significant step in the relationship between real estate pros and builders--and that partnership has been deepening ever since. A technology-enabled, collaborative workflow helps builders and sales associates grow together. In recent years, more than half of all buyers considered new construction. However, many real estate experts feel unsure about the best way to reach out to builders and sell new home builds. Even in today's COVID-rocked world, new home sales are up, and interest remains strong going into the fall. In July 2020, sales of new single-family homes were over 36% above July 2019's figures of 661,000. That makes July 2020 the single best month for sales of newly built homes since 2006. But how can you get involved with builders and lay the foundations for strong cooperation? Here are six ways to get started building a perfect relationship with home builders. 1. Start By Knowing What Kind of Builder You Want to Work With There's no "one size fits all" when it comes to real estate sales associates. It's just as true of builders! Although all builders provide certain services, they differ in geography, amenities, neighborhoods, and business strategy. That influences the best way you can partner with them. National Builders Larger builders operate in a regional or nationwide territory. Since they have their own sales staff, the land development manager is the main point of contact to get you up to speed on business opportunities. Some builders offer commissions to any sales associate who brings them a buyer, even if you don't have an ongoing relationship. This can be a foot in the door for competitive builders in the 12+ homes per year category. Midsized Builders Midsized area builders tend to have a small sales team or work with a single real estate firm. They are more open to outside advice: Find them lots in areas where they want to expand, and you could be brought on to sell. Small Local Builders Small local builders offer an open door to opportunity, but may have a modest sales volume. They often lack an in-house marketing budget, so a savvy sales associate who knows today's real estate technology can offer true win-win partnerships by handling promotions and sales. No matter what approach you take, remember builders get lots of pitches every month. Distinguish yourself with something striking and unique, so you get the chance to discuss your value. 2. Emphasize Branding and Reputation Building for Your Builders Many builders employ an on-site associate with deep insight into the company, developments, and home features. Before meeting that person, buyers have to hear from you why a builder is right for them. That positions you in a familiar place: A match-maker between two sides who meet each other's needs. Learn everything you can about your builder, what makes them special, and why their work is superior for different kinds of buyers. Each buyer you work with has many options, so take cues from them and see how interested they seem: If new construction excites your client, you can set up a meeting. Strengthening a builder's reputation means more sales and a longer, more fruitful collaboration for you. 3. Leverage Your Pool of Buyers to Focus Interest on New Homes One consistent thing you'll notice about new homes is that not everyone thinks of them! Sure, new construction isn't right for everyone. But as "starter homes" have fallen by the wayside, more people are entering the housing marketing as established professionals with disposable income. Amidst your first-time buyers, look for those whose finances are strong enough to make a new home a viable option. Then, get used to exploring the advantages with them and overcoming objections! What about affluent buyers with multiple properties? Many have already considered new construction but haven't yet found the right opportunity. Working with a builder is a longer commitment, and financing can be a challenge. But it gives buyers the chance to realize the home of their dreams from the ground up. That's an incredible selling point! 4. Become Familiar with the Intricacies of New Home Construction Building a new home is a complex process that requires more effort to get started. Just as you'd ease a first-time buyer's worries about financing, you'll need to do the same about new construction. But there's a catch: All-new construction often means multiple intersecting timelines for financing, construction, closing (which often happens twice!), and more. You'll not only need to understand the process but be able to explain it in a way that buyers can wrap their heads around. And should delays happen, they're sure to look to you for encouragement and input. This also means staying involved in the process once a buyer decides on new construction. As a sales associate, you have a special role in translating buyer expectations into outcomes builders can deliver. Always stick to a high-touch approach until the keys are in the buyer's hands. Then, follow up to check on that happy client! 5. Get to Know Your Builder's On-Site Associate With a builder, there's no need to do all the legwork yourself. Many of them have on-site sales associates trained in all the ins and outs of a development and its offerings. You are most likely to step into transactions as a buyer's agent. The on-site associate is licensed and follows all the guidelines and ethical standards of other real estate pros. He or she is a trained expert on the builder's processes––which leaves you to focus on facilitating the flow of communication between buyer and builder until closing day. As an advocate for the buyer's needs, you can accelerate the sale and continue to build your practice. 6. Make Marketing Automation a Cornerstone of Your Growth Strategy The builder you work with becomes a big part of your branding. Make sure you integrate information on new homes and desirable developments into your marketing! Strong customer relationship management gives you visibility into where your leads come from, their interests, and where they stand from the first meeting to closing day. That's especially crucial as you diversify lead sources, establish builder relationships, and cater to buyers with different goals. Real estate has weathered this year's tectonic economic changes better than most industries. The horizons of growth for new home construction are vast––now is the time to seize these promising opportunities, expand your skillset, and "build" profitable business relationships. DeltaNET™️ 6 CRM customers can already showcase builders, their communities, and model homes directly on their real estate website. Try DeltaNET™️ FREE for 30 days. To view the original article, visit the Delta Media Group blog.
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How to Boost Your Business When You Partner with a Builder
You Can Grow Your Revenue Stream by Creating a Relationship with New Home Builders Many would-be buyers begin their house hunt from existing housing inventory while others turn their homeownership dreams into reality with a custom-built home in their local communities. When you partner with custom home builders, you open the door to a whole new revenue stream for your real estate business. Creating a working relationship with custom home builders is a win-win-win for you, the builder, and the home buyer. At the same time, you add more value for buyers who've purchased land—streamlining their journey to the new home they want. It also works in reverse: Your builder partner can refer their clients to you to help them acquire the land they need. Either way, you can earn a commission as clients go forward. On top of a boost in revenue, you'll raise visibility for your land listings among buyers who urgently need them. Selling sales associates can also acquire more leads since builders often work with clients who need to sell an existing home to finance new construction. What Can Sales Associates Offer That Builders Need? You might wonder – what motivates a builder to partner with one sales associate over another? Many builders minimize uncertainty by working with the same title company and lender for every transaction. That helps ensure closing takes place on schedule and prevents them from absorbing carrying costs for completed stock. The builder-sales associate relationship can be just as vital for sales associates willing to commit to one or more specific builders. In any partnership, there needs to be a mutual commitment to promoting and benefiting the other party. Luckily, there are lots of ways sales associates can be indispensable to a chosen builder. Sales associates are experts at "translating," so builders and buyers don't end up talking past each other. They ensure that buyers understand the terms of sale, then work with the builder to ensure everything is delivered as agreed. Buyers love the chance to participate in the design and select finishes, but the fun stops if they feel misled. A sales associate orchestrates the process so all expectations are met. The sales associate's role is even more visible in new home communities. Actively promoting a builder's community fosters rapport. That feeling of reciprocity can make it easier for your future clients to get special requests incorporated into their new builds. First Steps for Creating a Builder Partnership Buyers of custom construction homes are often on their second or third property. You can maximize the value you offer by providing sales support for their existing home. This streamlines the transaction and benefits everyone involved by getting buyers to closing faster. To make the biggest splash with a builder, get to know their offerings inside and out––literally. Ask to visit recently-constructed homes, and those homes still in progress to get a sense of the process. Find out what the builder considers their key selling points so you can communicate them in ways that are truly meaningful for buyers. Familiarize yourself with all the available floor plans and add-ons so you can match options to each buyer's needs. Last but not least, interview builder representatives and find out the kinds of questions buyers have asked them in the past. Builders often look for partnerships with sales associates when they have been burned by unqualified buyers. By putting in face-time and doing your research, you will demonstrate to a prospective partner you're in this for the long haul. New construction is a lucrative area where you can expect cycles of strong growth. Not only that, but it's also exciting and fun for sales associates and buyers alike. Get Started Promoting Your Partnerships Delta Media Group® has made it easy to feature home builders, their communities on your website. Spotlight the builders, their communities, and model homes you represent on your website using DeltaNET™️ 6 and its Builder Showcase feature. Add a detail page for each builder highlighting their company details, inventory listings, and open houses. Call special attention to model homes. Adding Google maps to these pages, your website visitors can find these communities and listings easily. You'll be able to add floorplans, plat maps, brochures, and videos for potential buyers to view. Promote upcoming open houses on your website too. Find the right builder in your area, and your partnership could be the platform that brings you both to the next level. Not getting your copy of Delta Media Group's magazine, Real Estate Marketing & Technology? Sign up today. Your subscription is free. To view the original article, visit the Delta Media Group blog.
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How to Sell Property 'Off the Plan' in 72 Hours... even if you've never done it before.
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Are You Marketing New Construction Homes Correctly?
Introduce Buyers to Builders and Their Communities on Your Website Many buyers opt for new construction homes over existing homes, especially in markets where a lack of housing inventory exists. No matter why a buyer is opting to build a house, marketing new construction homes is often a challenge for real estate businesses. The new construction market is strong, but you may still have to adopt new tactics to market newly built homes to your audience. Get started with these steps to market new construction homes to your clients.
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Top-Ranked Real Estate Agent Ben Caballero Issues New Podcast Episode
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Marketing New Construction Homes: What Real Estate Agents Need to Know
New construction homes are a popular choice for many buyers, especially in markets where a lack of housing inventory exists. No matter what the reason a buyer is opting to build a house, marketing new construction homes often presents unique challenges for real estate agents. The market for new construction is strong, but you may still have to adopt new tactics to market new construction homes to your audience. Get started with our guide on what real estate agents need to know about marketing new construction homes.
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How to Help Me as a First Time Home Builder
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Develop Online Applications with dataFloat
IDC Global is a software development company that focuses on database and data processing specialized to improve the performance of Internet and other networked applications. Their new product, dataFloat, offers significant improvements in performance and scalability for Internet and mobile applications and also allows clients to develop e-business and multilingual applications easier and more efficiently.
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