How to Market New Development and Construction?

How to Market New Development and Construction?

How to Market New Development and Construction?

When the market is hot, buyers are hungry, and properties move fast. When the market is less than ideal, some extra work may be necessary to attract potential buyers to available listings. New development and construction are no exception to this situation. Regardless, developing a system to reach potential buyers is crucial for your success. This article will review several strategies to help you market new development and construction properties to increase your reach and find your next buyer.

What challenges do new developments and construction properties face?

The U.S. Census Bureau recently released a report showing that over 1.5 million new homes completed construction in March of 2021. This represents huge potential, especially in markets with high home values. But new developments and construction may have additional barriers to selling compared to pre-owned housing. For example, while people constantly buy homes, there is a stigma attached to purchasing new construction developments because buyers can be afraid that new developments still need to have the kinks worked out. On top of that, while the market for homes is large, finding buyers interested in new development may take some extra digging.

Different ways to market new development and construction

If you want to reach potential buyers for new housing, having a strategic method will increase your odds of success. Below are several ideas of how to approach marketing to potential customers about new development and construction. 

Professional Photography

Every phone is capable of taking pictures good enough to send to your mom or best friend. But to attract real attention to your new development and construction, you should highly consider using a real estate photographer. A professional photographer has an eye for beautiful and aesthetically pleasing shots. And if their goal is to sell a property with a few photos, they will get you photos that are worth a thousand words or more. 

But don’t just be happy with some simple photographs. To really wow prospective buyers, consider going the extra step with drone photography which provides an incredible new perspective of the property.  

Virtual Tours and Staging

Things are ramping up again in the U.S. after the height of COVID-19, but virtual tours and staging have become a valuable tool in the realtor toolbelt. Virtual tours allow potential buyers to view homes without needing to physically step foot in the property. The tour can be viewed on phones, tablets, computers, or even in virtual reality. Virtual staging is a service to enhance the appearance of vacant properties by adding photo-realistic, virtual furniture throughout the property in photos or in virtual tours, similar to how you might purchase furniture to put in a property while doing showings. Virtual experiences for potential buyers will only become more popular, so buying into this practice now will help attract new customers.

Build your brand

You may work for a large agency or be a self-employed realtor. Regardless, building your brand is essential for reaching potential buyers. This may start with building a website, sharing success stories, and even blogging about different home buying experiences. Beyond that, take a deep dive into understanding your online presence. How are people finding your service and what might increase clicks on your business website? Consider location-based targeted advertising through Google or other platforms. This service will allow you to advertise content to targeted locations. More specifically, this will allow you the ability to market new construction and developments to potential local buyers.

Build your network 

Beyond branding yourself online, make your local presence known. Visit local cafes, stores, mom-and-pop shops, and leave a few business cards with them for customers to take. Talk to local construction crews working on-site, go to trade shows, and attend local or virtually local meetups. The more people see you and get to know you, the more likely they will be to remember you and recommend you to those in the market.

Social media can make a big impact on your brand. Do you only have a website? Why not utilize some free advertising by making a Facebook page of your business. Make a Twitter account and engage with other local accounts to increase your following. Post new construction and property notices on your Instagram account (with professional photographs, of course). 

Build empathy

The best way to help potential buyers is to connect with them on a personal level. Empathize with your client and it will make the buying and selling experience much better. Think about this from the buyer’s perspective. Maybe this is the first home they’ve ever purchased, or maybe their last home was destroyed in a fire. This is important information to know and consider when assisting someone with the buying process. It may also help you understand and relay important information and considerations of buying new developments and construction. Show that you have the buyer’s best interest at heart (and you should). Tell them, honestly, about the neighborhood they’ll be moving into. Be their advocate in the buying process.

Final thoughts

Now that you’ve considered several ways to market new developments and properties, hopefully, you can start developing a plan to improve your practice. Although housing markets may wax and wane, a successful strategy to connect to, network with, and empathize with potential buyers to help them purchase new construction and developments will make the process much easier.

How to Market New Development and Construction?
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How to Market New Development and Construction?

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How to Market New Development and Construction?
BDC 282. July 2021

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How to Market New Development and Construction?