How do some developers sell their new construction homes before they’re even complete, while others seem just to sit there?
There is an art to selling new construction homes faster that some developers get, while others hope that buyers will eventually come along and see the value in their homes. By learning what successful developers do, you can see your houses sell faster too.
Read on to learn how to make selling new construction homes faster and easier.
7 Ways to Sell New Construction Homes Faster
A fast turnaround is critical for maximizing the revenue on new construction homes. Without the right techniques, though, sales will stall, and profits will plummet. There are seven crucial ways that you can get customers lining up to buy your homes:
1- Use 3D renderings
Most people don’t choose a particular home because it is the logical choice. They need to feel excited about it and be able to visualize themselves there. As much as we would all like to think we are purely rational when it comes to such a large purchase, emotions play a key role in selling new construction homes.
Both interior and exterior renderings can help evoke this excitement for buyers. They will be able to visualize the finished project and see what the home will look like and how they would look in it. This excitement will help you close more deals.
2- Work with experienced agents
If you are a builder, the real estate agents you use will significantly impact how well your homes will sell. Experienced agents that know how to sell new construction homes will have the right tools and techniques to close more sales.
Ask realtors about their experience with selling new construction homes. Inquire about their process. For example, what channels do they use to get information out to potential customers? Do they use tech to sell new construction homes?
The right agents will know how to sell your houses fast and find the right buyers for you.
3- Set the right price
The right price is critical to whether a new construction home will sell. While you want to make sure you’re making a profit, too high of a price will mean it sits vacant for too long.
It is critical that you understand your market to price the home correctly. New homes should cost approximately 2.5 times the median household income of the market your house is located in. You can find out the median incomes of your area through the National Association of Realtors.
The right price to sell your new construction home depends both on the market and any competition that might be nearby. Take time to look at the building happening around you to ensure you’re not facing stiff competition.
4- Market on social media
Getting your new construction sold quickly means getting the word out to as many people as possible. One of the best ways to reach potential buyers is by marketing on social media. Considering that 99% of millennials and 90% of baby boomers begin searching for their future homes online, it can be an effective way to market to customers.
When promoting your home on social media, concentrate on the area where you are selling as well as the house itself. Also, consider putting up a video so that buyers can imagine themselves in the home and are intrigued enough to reach out to you.
5- Offer lower prices to early buyers
Offering early home buyers a lower price will help entice them to commit earlier in the process, which will lead to faster sales. Later buyers will also be more likely to agree to a higher price because they understand the concept of a discount for acting early. They will also be fine with a higher price because they do not have to wait as long to move into their new home.
6- Highlight technology
Buyers today are not just interested in the curb appeal of a house. They expect new construction homes to be better tech-equipped, and it can be a major selling point over an older build.
When marketing your home, ensure that they know all of the tech-friendly features that it offers. It will make them more excited to buy a new construction home if they have access, for example, to several electrical outlets that they can use for multiple electronic devices.
7- Explain the perks of a new construction
One of the primary aspects of how to sell a new home construction is messaging. While there is demand for new houses, it does require different marketing techniques and highlighting distinctive features than an older build.
Highlight how buyers can customize their homes to fit their needs and won’t require renovation to make it feel like theirs. They also won’t have to fix the DIY repairs and renovations of previous owners.
Help Clients Visualize Their Dream Home
Selling new construction homes before they are built can help you maximize profit and lower the risk of empty houses. However, it takes different technology and marketing techniques than selling a home that is already built. By reaching out on social media, showing 3D renderings, offering early discounts, and highlighting the advantages of your home, buyers will be anxious to jump in while it is still early.
The right visuals are critical to capturing buyer interest. If you are interested in harnessing photorealistic rendering and other visuals to start selling your new construction homes, we encourage you to give Cedreo a try. Your first design is free, and you can create up to 20 beautiful 3D renderings.