Hello All realtors, I need advice. We are building a 15 home gated community in Houston.
Prices of new construction in the area have dropped about $40k since we started. The market is tough with not as many leads and the few leads that do come aren’t able to qualify or cant afford the monthly payments. We are ready to list the homes. What route should I take?
1) list homes with a seasoned realtor/brokerage. We have spoken to 3 brokers so far.
-all 3 brokers regularly works with few builders for many years and currently each brokers has 25-30 listings of their builders in the same area and at similar price points. - it will be our first time working with any of these brokerages. -pay 3% commission. - they do instagram marketing. - they shot content and make website for the community. - market the houses with fellow agents/brokers - host some open houses. * I am concerned they might divert some leads to their other listings. We obviously wont be able to manage the sales funnel and rather rely on the agent updating us. We wont have much say on how they market the property. They wont work closely with our preferred lender as they already have their own preferred lender. They also have some nice programs. Largely the concern is we might be treated as “second class citizen”
OR
2) list it through a flat fee mls service - offer buyers agent 4% + btsa - 1-2% to buyer as concession. - spend money on google/insta ad via our website & social media pages - have our own sales person sit in the model house. - high quality pictures, video, rendering - we work closely with our preferred lender and we are able to offer down payment assistance programs between $7k-$18k depending on which program buyer qualifies for. - our aim is to help buyer achieve their monthly piti target. We offer the following options; no pmi, 2-1 buy down, permanent buy down, 15 year mortgage at 5.5%, closing cost assistance. -our preferred title company charges less - our preferred insurance company is very competitive - our preferred lender has low origination points/fees.
My concern is that despite all our efforts we wont do as good of a job as the seasoned realtor. Not be able to generate as many leads as them, since we dont have much connections with other agents (potential buyers agents) and our online marketing wont be as nice as theirs.
Any input is appreciated
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source https://www.reddit.com/r/RealEstate/comments/1d1lzwz/selling_new_construction_community_in_houston/
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