How Can I Market High-End Custom Homes?

In this difficult market, competition of new home construction is extreme. My husband builds new homes in urban infill locations and there is a lot of inventory out there. I’m planning 8-10 months out (when our latest project will be finished) and need advice on how to get the “right” realtors & buyers into our home. I work for an independent real estate company and find that I have a hard time getting the heavy hitter agents through our doors. Any suggestions for some proactive planning?

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Instead of waiting until the home is done and then waiting to sell it – presell them (or at least, pre-advertise them). For example, imagine a series of postcards (or magazine ad, or emails, or website photos, etc.) which shows the artist’s rendering of the house with the actual home (as completed) overlayed. Potential customers will be able to see what it will look like, and that’s it’s in progress (also a thermometer-like display at the jobsite itself for passer-bys).

Another suggestion: do surveys of potential realtors / buyers. Find out what’s selling, what’s being asked for, and market yourself as meeting the need (and then some).

Thanks for your quick response. I will definitely think about doing the pre-completion marketing campaign you suggested.

As for the survey, I’m not sure how well agents will respond to that? I held a broker open today where we sent out 1500 fliers and no other agents, other than who we knew, showed up. Any out of the box ideas to get the realtors in the door? I feel that our product is superior to the competition but I just need to get the #’s paying attention to it.

Realtors are the middle-men/women. You really want buyers. You might even consider selling homes FSBO, and saving the usual agent fees (instead hiring a lawyer or realtor — depending on the laws in your state — to do the paperwork).

If you want agents to come, you need to market to them. They see homes every day. They generally are content with the facts (sq footage, lot size, #beds, #baths, etc.) and a picture or two. What would make your husband’s house stand out for them? You could dangle a huge agent fee (say 7-8%) as incentive. Or, you could talk to the agents to find out what’s going on. Again, you need to survey your audience (in this case, agents) to find out what they need to make a quick/easy sale.

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