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ShareAccording to a Trulia survey, 41% of American homebuyers prefer new construction homes, compared to just 21% who prefer resale homes. Considering this statistic, real estate agents have a real opportunity to establish a steady, lucrative stream of income by partnering with home builders.
However, representing a builder means you have to build a relationship with them. So how do you do that? Well, it’s not all that different from working with private home sellers. You have to know the product, understand what the builder wants, follow up regularly, and then be ready to deliver when the moment arrives.
This blog post discusses how real estate agents can build business partnerships with builders and start representing them in the market.
The Advantages of Becoming a Builder’s Real Estate Agent
As discussed above, partnering with a builder can provide a steady stream of business to real estate agents. More and more homebuyers are now gravitating toward new construction homes. By representing a builder and their new construction products, real estate agents get access to a large pool of potential customers in an entirely different market. Then, of course, they can start landing buyers for any other projects they’re representing as well.
Moreover, the builders and developers community is a tightly-knit one where everyone knows each other. Once a realtor gets their foot in the door and does a great job for a particular builder, they’re likely to get more and more business and the opportunity to work with other projects. It’s all about how good you are at networking and forging connections.
How to Land Builders & Developers
To get a builder or developer to work with you, you first need to understand the market and what the builder wants. To be honest, what most builders want is buyers and a return on investment. Now, it’s down to the realtor to convince the builder that they can deliver. The stronger a realtor’s reputation and portfolio, the likelier they are to succeed in getting a builder to appoint them.
Things that can help realtors make a positive impression include providing builders with market reports on what’s happening in new construction and in the areas they’re working in.
How Builder’s Update Can Help Agent/Builder Relationships
To work with builders, a realtor first needs to understand their new construction products. This is where Builder’s Update comes in. An online new home search platform, Builder's Update provides realtors with access to the inventories of all the builders operating in their vicinity. Each to-be-built and new construction home listing is accompanied by photo galleries, floor plans, virtual tours, and detailed information about the subdivision and community.
The nation’s most popular new home inventory listings platform, Builders Update provides effective construction data solutions to local builders. Sign up with us today to gain access to a large base of qualified buyers and their agents.
