In his article, “Builder/Realtor Culture Is Changing. Billions Of Commission Dollars At Stake,” written by David Fletcher, NHCB in Realty Times, David highlights the positive changes in builder/agent relations. With demand for new construction on the rise, a shift in a formerly distant relationship between builder and agent has been strengthened by a decline in used home inventory and a demand for single family housing in the suburbs. This shift has encouraged agents and builders to work together more now than ever.
David notes the three major changes that have happened in the industry to pave the way for this giant leap forward.
1. Homebuilders needed a way to feature their new construction alongside resale homes.
This was achieved in August of 2012 when Realtor.com partnered with Builder’s Digital Experience (BDX) to syndicate new home inventory and plans from New Home Source to Realtor.com for a first ever side by side look at new homes and resale homes. BDX has also partnered with dozens of MLS’ around the country to ensure agents have access to the most comprehensive database of new home listings.
2. Homebuilders needed to change their thinking to include agents as a vital component in their business.
Tim Costello, CEO of BDX has long implored builders to take advantage of agents as a resource. Research has shown that the primary competition for new home sales was buyers shifting to choose resale. This smashed previous ideology that competition in the new home industry was between builders. The reality is that 84% of home buyers use an agent and 35% begin the shopper journey considering new – but many are lost to resale homes during the shopping process. With this new perspective, many production builders began adopting more agent friendly programs.
3. Agents needed to incorporate new homes into their business repertoire.
While many agents are becoming savvy on new homes, David sees this aspect as an opportunity for the real estate agent community and encourages brokers and agents to educate themselves on selling new construction.
With home sales booming, there has never been a better time for builders and agents to work together. If you are an agent interested in showing new construction, you can sign up for a free account on NewHomeSourceProfessional.com—giving you access to all of the new home inventory in your area. And if you are a builder interested in learning more about connecting with agents in your area – email us at firstname.lastname@example.org and we’ll help you come up with a plan!
About the AuthorMore Content by Alaina Latiolais