flexiblefullpage - default
Currently Reading

When and Why Home Builders Should Help Sell Existing Homes

Advertisement
billboard - default
Sales

When and Why Home Builders Should Help Sell Existing Homes

John Rymer closes his two-part series on dealing with house-to-sell customers. His advice: Step outside production builder boundaries and get involved in selling your customer’s existing home


By John Rymer September 30, 2007
This article first appeared in the PB October 2007 issue of Pro Builder.

Last month I discussed how to deal with customers who have an existing home to sell and gave you reasons why it's a great time to sell.

That was Part I. Part II of our discussion focuses on how and why every new home sales professional needs to become an expert who can accelerate existing-home sales at a fair price.

If you think this should be outside the role of a new home sales professional, think again. Consider the following:

  • More than 2/3 of customers report never having to sell an existing home in a buyer's market.
  • 82 percent of homeowners select the listing agent for their existing home based on a personal relationship rather than their professional accomplishments.

That's right, four out of five customers found their real-estate agent likely because "his wife works with my husband and he's a really nice guy."

It's easy to see why most customers with a home to sell are scared and receive bad advice on how to sell their home.

So let's draw a road map on how to maximize the sales price and accelerate the sale of a customer's existing home in a buyer's market.

 

5 Steps to Maximize a Home's Sales Price and Accelerate the Sale

Step No. 1: Demonstrate homes are selling in their neighborhood. Use MLS information to get an analysis on the average number of days on the market and a listing of homes recently sold in the home buyer's neighborhood. If you don't have access to MLS, partner with a real-estate agent who will do the legwork in return for potential referrals.

It takes time and the data may be disappointing, but better to begin with the facts so you can plan.

Step No. 2: Help home buyers find the right real-estate agent. Try first to refer a trusted top performer. If home buyers are reluctant to use your referral, make sure the real-estate agent they select is a top performer and tell them why it's important: they will never take a listing unless they feel confident it will sell within a reasonable amount of time. That's not so true among part-time and newbie agents.

Step No. 3: Give them a checklist to complete prior to listing their home. Shrubs overgrown? Too much furniture? Need paint? It's an easy list to provide.

Step No. 4: Make sure you and the customer receive agent feedback on every showing of their home. Positive and negative comments prepare you for the next showing.

Step No. 5: Discuss three-day pricing versus six-month pricing. Don't be shy. Customers need to understand the correlations between price and number of days to sell. A good rule to follow is that for every 5 percent you reduce the home's price, you cut in half the number of days it will be on the market.

Providing these useful tools will allow you to gain the customer's trust to take action now and move forward on the home they really want.
 


Author Information
John Rymer is the founder of New Home Knowledge, which offers sales training for new home builders and real-estate professionals. He can be reached at john@newhomeknowledge.com.

 

 

Road Map to Accelerating Sales

  • Demonstrate homes are selling in the neighborhood.
  • Help home buyers find the right real-estate agent.
  • Give them a checklist to complete prior to listing their home.
  • Make sure you and the customer receive agent feedback on every showing of their home.
  • Discuss three-day pricing versus six-month pricing.

 

Advertisement
leaderboard2 - default

Related Stories

Sales + Marketing

7 Sales and Marketing Trends to Watch (and Learn From)

These award-winning campaigns from NAHB's 2024 National Sales and Marketing Awards showcase next-level strategies and stellar results

Sales + Marketing

New-Home Sales and Navigating the 3 D’s: Death, Divorce, and Downsizing

Here’s how home sales experts manage challenging lifestyle changes with and for their buyers

Sales + Marketing

Q+A With Jenny Laible: The Keys to a Community Lifestyle Program

The National Association of Home Builders' 2024 Lifestyle Director of the Year talks about authenticity, knowing your neighbors, and her chill approach to social media

Advertisement
boombox1 -
Advertisement
native1 - default
halfpage2 -

More in Category

Home builders can maximize efficiencies gained through simplification and standardization by automating both on-site and back-office operations 

Delaware-based Schell Brothers, our 2023 Builder of the Year, brings a refreshing approach to delivering homes and measuring success with an overriding mission of happiness

NAHB Chairman's Message: In a challenging business environment for home builders, and with higher housing costs for families, the National Association of Home Builders is working to help home builders better meet the nation's housing needs

Advertisement
native2 - default
Advertisement
halfpage1 -

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.