Currently Reading

Utah Builder Forgoes Bidding Wars, Plans to Sell at Listing Price

Advertisement
New-Home Sales

Utah Builder Forgoes Bidding Wars, Plans to Sell at Listing Price


May 4, 2021
Utah neighborhood
Photo: Jason | stock.adobe.com

When Utah-based Goldcrest Homes opened its England Ridge subdivision, the builder didn’t see a need for bidding wars. Instead, it opted to try something new and plans to sell all 87 of its England Ridge homes at listing price to the first pre-qualified buyers who want it. And the builder isn't giving preference to cash offers either. Goldcrest Homes’ reasoning was that the home prices were based on appraisals and the cost of materials, there was no additional need to continually bid the price up.

Ross Ford, executive officer at the Utah Home Builders Association, said this is an “interesting approach” as builders try to navigate this difficult market.

“Builders have found themselves in an environment we’ve never seen before,” Ford said, “and they’re scrambling to say, how can we provide the best product at the best possible price to the public?”

Ford said he was unaware of Goldcrest Homes’ decision but was intrigued by it.

Read More
 

Related Stories

Sales + Marketing

The Reality of Managing Leads in 2021

The past year has brought new challenges for home sales specialists. The solution: a nimble, thoughtful approach to customer service
 

Market Data + Trends

Remote Work and Low Rates Create 'Ideal Environment' for Vacation Home Boom

Rate locks during the past year for second homes have surpassed primary home rate locks by 100%, according to a new report by Redfin. When…

Market Data + Trends

Increasing Number of Buyers Desire Newly Built Homes

More homebuyers are specifically seeking new homes on their buying journey compared to 2020. A recent survey from the National Association of Home…

Advertisement
Advertisement

More in Category




Advertisement
Advertisement

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.