As a developer, many buyers are pinning their hopes on you to help them achieve their dream of homeownership. The market for resale homes has become so competitive that each listing often gets multiple offers. Bidding wars are also common as buyers duel over a record shortage in inventory. However, it will be interesting to see what happens in the housing market over the next few months. The Bank of Canada has announced several upcoming increases to the interest rates over the course of the year. 

Is the Market About to Shift?

Current conditions might indicate a slightly cooler market in the months ahead. All signs point to prices remaining high. However, we may see an end to record-breaking growth. While inventory is not likely to increase, the pool of potential buyers may become smaller as the cost of borrowing becomes more expensive. 

An experienced local agent can take a lot off your plate. They’re experts on the neighbourhood and can have buyers in love with your development before it’s even complete. Want to know more? Here are some of our articles about selling:

• How To Sell An Investment Property
• Can a Local Agent Sell Your House for More Money?
• How Sellers Can Make the Most of a Hot Market

Why Work With An Outside Real Estate Team? 

The market can change on a dime, and it’s always essential to have a database of qualified buyers for your upcoming units. Being able to sell quickly is especially critical when you’re depending on those sales to help fund your next project.

Every day, more developers are seeing the benefits of collaborating with an outside real estate team to work with potential buyers. Why?

To Save Time

Selling a house is complicated. Each transaction involves a mountain of paperwork, and buyers have so many questions, often asking the same thing repeatedly. It’s understandable, since they’re about to embark on the most significant investment of their lives. 

When dealing with multiple buyers for different properties, things can get even more complicated. 

As a developer, you’re busy overseeing your project, managing your workers, and ensuring everything stays on track. When you’re juggling so many things, it can be hard to maintain relationships with buyers who may start to get frustrated if your project gets delayed. 

Working with an outside team who is knowledgeable about construction saves you a lot of time. Whenever a buyer has a question about a contract or wants help understanding the spec sheet, they will call the agent, not you. 

With a real estate team available at all times as the point of contact, you are free to do what you do best: Manage your team and develop new housing units.

Double Your Selling Power

Selling a pre-existing home that a buyer can walk through and see is easy. Selling a house that doesn’t even exist yet outside of the blueprints is much more challenging. You may already have an in-house agent to handle potential buyers who call or visit the model home. However, it’s critical to market your properties to a wider audience. 

A real estate team brings a wealth of marketing and sales skills to the table, resulting in a larger pool of qualified buyers. It allows you to expand your outreach without adding anything to your marketing costs. 

Improve Marketing Outreach at No Cost

Not every client is the right fit for a developer. The extensive waiting period and uncertain move-in date often won’t work for a buyer with a family looking for a home right away. However, a real estate team active in the community has access to buyers who are perfect clients for new developments. 

By the time you’re involved, they’ll have most of their questions answered and realistic expectations about buying pre-construction. Often, they’ll be prequalified for financing and have a down payment ready.

 A real estate team that is knowledgeable in pre-construction can keep buyers engaged and excited right up until completion day. 

Want to know more about how we interact with buyers? You can read some of our buyer-focused posts about new construction here:

• Resale Home or Preconstruction: Which One is Right For You?
• Pre-Construction FAQs: What to Know About Buying Brand New

To Manage Buyer Expectations

Buyers have expectations, and the situation can get tense when things don’t go as planned. The process for pre-construction works a little differently than buying a resale home. The closing dates are not set, and there are more costs to be aware of. A real estate agent works hard to strike the right balance between keeping the buyer excited about the project and realistic about the move-in date.

To Reduce Risk

Having an experienced real estate team at your disposal costs you nothing in terms of risk. The steady stream of qualified and eager buyers makes any commission well worthwhile. In the worst-case scenario, if they don’t sell your units, you pay nothing for their services.

Woolcott is currently ranked as the number one eXp Realor® for the Waterdown, Hamilton and Burlington areas. We have also ranked consistently ranked number 1 all across Canada. You can discover all there is to know about the Woolcott Advantage here.