New construction homes are a thorn in some REALTORS® sides as they’re so hard to compete with, especially if you work in the resale market. New construction homes come with brand-new appliances, a one-year builder’s warranty, and they still have that fresh paint smell.
But fear not! There are some easy tips and tricks you can do to help your listing compete with new construction homes, regardless of how old your listing is.
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Highlight the No Wait Time
Although new construction homes come with the guarantee of being the first owner, that first owner will still have to wait for the house to finish being built. With the effects of COVID on the supply chain, this has been exaggerated even more!
This immediately gives your listing an edge since your listing is already done and ready to go! Take advantage of this by highlighting the fact that there is no wait time for an eager buyer to move in. Negotiate a quick close and soon move-in date!
On top of the immediate availability of the house, there’s also no wait time for the landscaping or pool. Even if your listing comes with a smaller yard, it’s still a complete yard that doesn’t have to wait for a landscape artist to sculpt it. Plus, pools take time and money to build, which COVID and supply chain issues are still affecting!
As one appraiser on Houzz puts it:
“Someone will prefer your home because they won’t have to wait, they won’t have to endure construction of the other homes, and because landscaping and other features will have been completed.”
Create a Monthly Mortgage Payment Sheet
The flashiness of a new construction banner may blind buyers to the actual cost of their soon-to-be new home. In fact, most new home constructions won’t be able to indicate the actual cost as the rates fluctuate so quickly, even before the house is done being built! So many buyers are facing surprise after surprise about the actual costs of the build.
If you have buyers flocking to the new construction sites, consider breaking down the actual cost of buying and living in one of your listings for their first year. By creating this monthly mortgage payment sheet, you can offer buyers a feeling of stability and trust.
Plus, they get the advantage of seeing exactly where and how their money can go to buy their dream home- one of your listings!
Offer a Home Warranty to Compete with New Construction Homes
Whether your home is three years old or older than your grandparents, give your listing an edge in competing with new constructions by providing a Home-Tech home service warranty!
The warranty offers peace of mind for you, your seller, and the buyer with no subcontractors, parts and labor coverage, and so much more.
So, don’t let those new construction homes steal your sales away! Give your listing an advantage with a Home-Tech home service warranty. Check out our website designed for REALTORS® and get the tools needed to compete!