New Construction Sales – How Existing Sellers Can Compete
Many sellers within Tidewater and other communities that they feel that new construction is hurting their chances of selling their home. It’s important to remember a couple of important factors involved in selling.
In my experience of selling hundreds of homes, typically when a home does not sell it’s related to 1 of 3 issues. 1. The property itself or the location. 2.The Marketing and Exposure created for the home. 3. The price of the property.
New construction is everywhere in our market right now and will likely continue as long as people find the Grand Strand an enjoyable place to move. Most builders have the same intention with their properties as re-sale owners do. They are wanting to sell in a reasonable amount of time for the best price possible.
In the past when builders had large amounts of standing inventory, they made deeper cuts in their prices to eliminate the expense of holding properties that were not selling. In the last few years, builders are keeping their new construction spec home inventory limited.
In many communities the new construction is actually helping to raise the average square footage price within the community. If your re-sale home is marketed correctly there’s good chance that you can take advantage of the increased activity that new construction brings to an area. Many of the Regional and National Builders pour tens of thousands of dollars into marketing efforts to bring buyers into the community. Of course some of those buyers will buy a new construction home, but many of them will choose to purchase a wonderful existing home. If your marketing plan is designed to attract those buyers you can actually benefit from the added exposure.
There is often a lot of “hidden” value within re-sale homes that is not pointed out to buyers when the homes are simply put in the MLS. These “extras” that you won’t find in most new construction, along with the fact that the home is already complete often with mature landscaping, can be the difference in helping the buyer choose your home versus the competition.