Are you taking on your first new construction listing and wondering how to market and, even better, pre-sell it? Is your new construction close to completion, or are the steel frames just going up? No matter the stage in your listing’s construction, you want to sell as many units as possible – ahead of move-in day. While there are a number of different ways to market listings, “new-con” listings can be tricky considering your most important asset – the new and shiny building itself, is not yet complete. Try abiding by these four tips to jump-start your marketing!
Creating a rendering is a must when trying to pre-sell a listing or multiple-unit listing. When a potential buyer can’t physically visit the space and visualize themselves living there, you have to improvise. Both interior and exterior renderings provide potential buyers with a visual and, paired with the buyer’s imagination, should help supplement your presentation of your listing and convince the buyer that they could live there.
Use a Sales Gallery or Model Showroom
For buildings that are still under construction, developers often create off-site sales offices that feature sample showrooms that give potential buyers a sense of the finishes, appliances, and fixtures that they’ll see in their unit. If your developer has opted into having a sales gallery or showroom, use it to your advantage! Hosting a temporary art gallery or party is an easy way to take a guest list and turn it into a potential buyers list. High-end art and real estate tend to overlap, so use this to your advantage!
Word of mouth is great, but when you have a new construction, potentially high-end listing, you need all the exposure you can get. Consider sharing renderings or photos of your model showroom through email newsletters, social media posts (both paid and organic), and local news coverage if applicable. For example, if your new construction might include retail space as well, it’s likely going to have a positive impact on the neighborhood’s property values and bring a few jobs into the area. This is a great way to position your listing to local media outlets that might be interested in a quick segment regarding your new listing.
Be Prepared to Explain Additional Costs
When marketing your new construction, you want to be able to present a price that will encourage potential buyers to check out your listing. Model units may also incorporate the best finishes and upgrades that other units might not include, so it is important that potential buyers know what they are actually paying for. Additionally, new constructions allot certain advantages an already existing home won’t. For example, if your buyers want certain upgrades – those upgrades may come with additional costs. Be prepared to explain this early on and be transparent, this will save you the headache later on.
Specializing in new construction and development projects means Boris Lehtman knows the best properties in Chicago. His attention to detail, knowledge of construction quality, and dedication to perfection coupled with his drive to obtain the best value for his clients make Boris the ideal broker to work with.
Having been both a home buyer and seller himself, and being on both sides of the transaction process, Boris understands the significance of each and every deal, big and small. The home buying/selling process can seem long and tedious, but he provides clients with insight into what milestones need to be achieved and when, and provides real expectations and guidance on what lies ahead.