This article could also be known as ‘why isn’t my established home selling whilst brand new houses are being snapped up?’ Basically, the purpose of this piece is to look at the potential reasons of why this is occurring. Whether you are trying to sell an established house and are looking for some unique ideas or whether you are a home builder wondering why you’ve suddenly got so much work, this could be the article you have been looking for. So, what are builders doing that re-sale homes don’t?
- Floor Plans
It appears as if most home builders are marketing their projects in similar ways. They place advertisements in local newspapers, for example, announcing developments in that area and instructions on how clients can find their sales offices. They also place advertisements online through websites like Real Estate and Domain; clients are able to specifically search for new developments in this way.
Once a client has made the decision to visit a sales office, they are shown a presentation that outlines what the builder can offer them and some information on the construction process. It will often include an artist’s rendition of what the finished home will look like and will also show real photographs of some of their past work. The client will be able to ask any questions that they may have at the end.
Many builders are also choosing to include floor plans in their material, whether this is in the presentation or their advertisements. These plans are actually vital in a clients’ decision to go with a particular company, as they can ensure that the home will have plenty of room for their children or extensive DVD library. Clients are often turned off when they realise that a listing doesn’t have a floor plan.
When it comes to the re-sale market, however, it appears as if each of the above promotional tools have been completely abandoned. Often, you can click on an online listing or even collect a brochure for a home where you can learn every little detail about the property except for how it looks from above because it lacks a floor plan. When real estate agents are approached about the reasons behind this marketing abandonment, they are happy to share their opinion but aren’t willing to give them a go.
It also appears as if home builders are more willing to give new technologies a go. The idea of the ‘virtual tour’ is one that is taking the construction industry by storm with many builders commissioning digital artists to compose 3D images of what their finished buildings will look like. This allows the client to virtually walk through their home before construction has even started; they can show this imagining to others and they can begin planning what each of the rooms will look like upon finishing.
If you are currently trying to sell your established home but aren’t having much luck, you should try looking at what some of the home builders in your area are doing. Speak with your real estate agent and broach the topic of trying out one of the above ideas; hopefully they will be eager enough to please you (and sell your property) that they will agree.