To work with builders, your skill level must be: From communication to presentation to organization to marketing, it’s time to raise the stakes to develop these relationships.
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One of the topics that comes up again and again in our weekly coaching calls is “how to work with builders.” This is a good sign that the new construction side of an industry that has been hit hard during the pandemic is on the rise.
According to a recent Forbes article that shared the Redfin report, “A record 29% of single-family homes sold in the third quarter were new construction, up from 25% in the same period last year and 18% in 2020. This is the highest number of new homes entering the market after construction since 2007.”
We love it when agents want to carve out a new niche for their business, so we’ve rounded up six tips for connecting and partnering with builders.
do your research
Before you start looking for a property builder, it’s essential to understand the builder you are considering working with. You need to know the types of properties they specialize in, their reputation in the industry, and how long they’ve been in business.
This will give you an idea of which builders are best suited for partnerships, especially if you like treating a particular style of home or a particular group of people as a niche.
Start marketing yourself to builders you want to work with
A great place to start pitching to builders is to create a list of small to medium sized builders in your area. The reasons behind networking and marketing to them rather than to large builders The downside is that most small businesses have to work on site and manage all the projects and are too busy to start thinking about finding land for their next build. is.
One of the best ways to impress builders is to find land for them. Because of their hectic schedules, having an agent who can actively develop land is a plus and a great way to initiate a win-win collaboration.
request an audition
Offer to sell one of their models or one of the houses that has been on the market for a while but no one has taken. Explain that you want to use the property as an “audition” so they can see your skills.
Understand the construction, sales and negotiation process
Every property builder has their own process when it comes to negotiating and closing deals. Knowing the steps involved in the process will help you plan ahead and discuss a partnership agreement that will ensure everything goes smoothly.
It’s also important to know the key people you need to contact or know well during the process.
put on your marketing hat
Whether it’s open houses, direct mail, door knocking, social media, or works, all should be included in your marketing arsenal to effectively promote your property. Consider both old-school and high-tech when creating a plan to market your builder. They want to see not only knowledgeable salespeople, but also marketing efforts that help drive buyers into business.
Establish clear communication channels
80% of realtors have learned how to communicate using language. Use words and phrases to plant seeds, negotiate offers, present marketing plans and prospects, and all other pieces of the real estate puzzle.
Effective communication is critical to the success of any collaborative project or relationship between two parties. Make sure to establish clear communication channels from day one. Regular updates via email or phone will keep everyone on track and ensure everyone’s needs are met throughout the process.
When partnering with property builders, think about what drives them. How can you reach their goals, meet them, and ultimately grow their business and customer base?
To work with a builder, you must reach the following skill levels: From communication to presentation to organization to marketing, it’s time to raise the stakes to develop these relationships. let’s have fun.
