(Where to find listings, part 4)
New construction can lead to listings in three ways. Granted, these are long-term marketing commitments and aren’t likely to bring you a new listing today, but you never know.
While agents across the country are facing a shortage of listings, homeowners are hesitating, and no one can blame them. After all, if they sell the home they’re in, where will they find a replacement? And if they are successful in finding a next home, what will it cost? That’s a valid question, and there are few answers.
One possibility for homeowners who want to move is new home construction.
If there are new developments coming in their area (or their target area) they might be able to get in on the ground floor to purchase a new home. Of course, homes aren’t built in a day, so their plans to sell could be postponed for several months.
Depending upon the area, they might also be able to purchase unimproved land that either has public utilities or has been (or could be) approved for both a well and a septic system. Then they could hopefully find a building contractor to construct a custom home. That’s common in my area, but I’m told that the contractors are backed up, so start of construction could be many months in the future.
The first way new construction can lead to listings…
The first and most obvious way new construction can lead to listings is to become a home builder’s exclusive agent.
Many home builders have employees who give tours of their model homes and work with buyers. However, that method leaves marketing up to them.
Why not approach them with examples of how you market your listings? If they sound interested, why not take the time to outline a marketing plan for their entire new subdivision? If you made the effort to become a true partner to them, you could save those builders both time and money.
And, at the same time, you’d be in direct contact with homeowners who will want to sell just as soon as their new home is ready for occupancy.
Or, why not become a marketing guru for a custom home builder?
New construction can lead to listings if you begin promoting a custom home builder who has the time and the work force to take on new projects.
Homeowners who are thinking of building a new home get recommendations from friends, pay attention to ads, and browse the Internet in search of the right builder. So align yourself with a builder and get in front of those potential new home buyers!
You could become the “listing agent” for the custom home builder, and you could promote him or her by:
- Gathering photos of homes they’ve built,
- Interviewing past clients to get testimonials
- Writing blog posts about the home-building process
- Letting prospective new home buyers know about the choices they’ll need to make along the way
Meanwhile, along with bringing your home builder new business, managing ad campaigns for a builder could put you in direct contact with homeowners who will be selling their present homes as soon as their new home is ready.
New construction can lead to listings if you market your patience and helpfulness.
Most agents want to spend their time on prospects who are ready to act now. In fact, some use timing as a qualifying question when they ask web visitors to fill out inquiry forms on their websites.
And of course, you also want listings now. But that doesn’t mean you can’t be working toward the listings that will be ready a few months from now.
- Advertise your willingness to advise homeowners on getting their current homes ready to bring top dollar.
- Advertise that you have a trusted list of service professionals who will help with everything from de-cluttering to power washing the house.
- Let homeowners know that you’ll update their market analysis before it’s time to sell.
- Talk to prospects about bridge loans that would allow them to buy their new home before they sell the current home. (First, get acquainted with a lender or two who does those!)
I know you don’t want to do all that work with no guarantee of the listing, so check your regulations to see how you can legally gain a commitment ahead of time. Every state has its own rules.
Opportunities do abound – as long as you keep your eyes open and are willing to work for them.
Meanwhile, don’t forget about the other ways to get new listings.
For instance: Read your newspaper every day and look for listing prospects. Here’s how.