New construction listings are a specialized area of the industry that can take an agent’s career to the next level. Here are a few tried and true practices to help you tap into this market.
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Winning new construction listings can be a challenging feat for agents. However, we’ve found that these types of listings are a great way to network with established and emerging developers, as well as elevate your status as a top agent.
We have had the great fortune of representing many of the most prestigious new construction listings and developments in Los Angeles, in addition to setting records for achieving sales with the highest dollar per square foot, further demonstrating that new construction can sell at a premium.
Here are a few tips and tricks we’ve learned over the years for landing new construction listings.
Be a resource
Like all things in the luxury real estate industry, doing your research is key. When pitching yourself to developers, it’s important to demonstrate a keen interest and understanding of the market and design, especially if the developer is working with a renowned architect. Investing this time and effort will set yourself apart from other brokers vying for the listing.
There’s been countless times where we’ve shown up to a new construction site and asked to speak with the developer directly without prior appointment or interaction. This has proven successful for us as we are able to communicate face-to-face to a developer about the value we can bring to the property.
Positioning yourself as a resource and counseling developers on how to get the most return out of their investment is an effective strategy when establishing yourself as an expert in new construction.
Sell with vision
Developers have a vision for the home and want to ensure that you as the agent understand and can communicate that vision to potential buyers. Studying the floor plan, the proposed amenities and stand out features will further enrich your sales pitch and nurture trust with the developer.
Additionally, new construction can be a longer process for buyers than an existing home. Ensuring your sales strategy drives home the potential of the property is of paramount importance.
Push your portfolio
Spotlighting your achievements and sales numbers is key with winning new construction listings. Developing an elevator pitch that highlights why you’re the agent for the job is one of the most important steps in winning over developers.
Putting together a tailored presentation where you highlight market trends and sales success will show you have the knowledge and experience to take the listing to the next level.
Additionally, we have had a lot of success at winning new construction listings when we invite developers to special open houses or events we’re hosting at other new construction listings. Showcasing how we bring the right type of buyers in the appropriate setting enables the developer to envision how we would sell their project.
Furthermore, if you work with a renowned brokerage like we do at The Agency, emphasizing the tools and resources you have at your disposal is key. Marketing, public relations and technology can make all the difference when selling a new construction property.
Partner with an experienced agent
Partnering with an agent who has the experience can be incredibly beneficial. If you work within a brokerage, network with colleagues to find the right agent to take you under their wing and mentor you on the new construction business.
Having the backing of an experienced agent will cultivate the trust needed with the developer, and in turn, place you on their list of go-to agents when another project goes to market.
New construction listings are a unique and specialized area of the industry that can take an agent’s career to the next level. Nurturing the right relationships with developers, honing in on the qualities and resources that differentiate you from the competition, partnering with an experienced agent and being able to sell the vision for the property have all contributed to our success in the new construction business.