Recently, I was visiting with a friend who is in the process of selling her home and looking for a larger home to accommodate her family. Their current home went under contract quickly, but they could not manage to win any of the offers they had written, even though they didn’t submit low-ball or unreasonable offers. I asked if they had looked at any new homes — strangely enough, they had not.
That got me wondering why.
New construction is not something to be afraid of and may even be the answer to your buyer’s struggle. It could involve a multi-step process: selling their current home, moving into temporary housing and finally moving into the new home. This process is not impossible. They will be packing up belongings to declutter for a better presentation when showing their current home, anyway. Usually, this involves renting a storage unit; just plan on securing a larger unit to store items that won’t fit in their temporary housing.
Selling new construction is different than selling an existing home, even if the new home is “finished.” The inspections are different, so make sure to read the contract carefully. The good news? All the systems and appliances are brand-new, and there may be transferrable warranties on windows, doors, shingles and more.
Still a little unsure?
The on-site agents can be a big help. They are usually happy to explain what you should expect throughout. One word of caution: buyers are so excited that they tend to drop by the property often. As a buyer’s agent, you need to educate them about the hazards of a construction site, and ask them not to drop by 15 minutes before the subdivision closes.
Want to learn more? You have options:
- ReeceNichols’ CE class: Introduction to New Construction
- National Training Portal, provided by Leading Real Estate Companies of the World: “New Construction — Have You Considered New?”
- Residential Real Estate Council’s two-day course, earning you eight credits toward your Certified Sales Professional certification: “Turning New Homes Into Ongoing Revenue”
- Kansas City Home Builders Association’s Certified Sales Professional (CSP) designation
With a little planning, the possibility of helping your client find their new home could actually be a new home.