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Vol. 4, Issue 18, You Tell Us, What Are The Most Difficult Aspects of Selling New Construction?

by Chicago Agent

Deborah Greenberg

Koenig & Strey GMAC
River North

Selling new construction can pose many challenges. From long delivery times to buying from a floor plan, buyers are being pulled in many different directions. With the large number of new developments and a high inventory of resale units, there is a lot to choose from. Nice finishes, functional floor plans and amenities, both neighborhood and building, provide sellers with the tools to overcome the challenges of selling new construction.

Ismael Perez
Exit Team Realty
Roscoe village

When it comes to new construction, there are three things that require meticulous management. First, it’s critical the builder/developer produces a product that is in high demand from home buyers. Second, a carefully thought out pricing matrix is paramount, especially in our present market. Finally, delivering the new construction product on time and in completed condition solidifies positive feelings toward the builder/developer and advocates strong brand position for the agent and brokerage.

Linda Landsell
Coldwell Banker Residential Brokerage
Lake Forest

New construction appeals to buyers who want to move immediately, without waiting for renovations to finish. However, marketing these houses can be tricky. Agents must make the home feels warm and inviting, and showcase the livability of each room. Depending on the seller’s budget, this can be done by staging the home with furniture and props, or by adding choice floral arrangements for color and depth. Another challenge is educating buyers to the costs of high-end finishes commonly found in new construction, such as moldings, appliances and plumbing fixtures. Buyers often have unrealistic expectations with what features will cost, and it is the agent’s job to anticipate this and forewarn them before they begin their search.

Matthew Kombrink
RE/MAX Excels
Geneva

Right now, in our area, there is just as much greater supply of existing inventory, and a substantial part of that inventory is still relatively new, already landscaped and improved and have gone through the builder punch list phase. When builders/developers purchased the land years ago, the market was different, and their pricing was based on the higher values in the market back then. When you compare that to the falling prices in the existing home market, you end up with less demand for the new construction.”

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