Great Takeaways from the New Construction Mastermind | 3 Major Keys to Marketing New Construction Homes

Last week’s New Construction Mastermind went off to a great start with our passionate guest speaker, John Williams sharing his expert insights on the DFW New Construction Market. It was indeed a lovely session filled with well-received information about updates on the new construction market here in the DFW Metroplex.

Here are just some of the most important takeaways from the mastermind last week. 

 The importance of Having a Strong Value Proposition In Real Estate 

• Have you ever wondered why after all these years of working as an agent, you’re still getting nowhere? Have you ever thought to yourself what do I need to do in order to thrive as a Realtor and not just survive? The reason why most agents struggle so much for the first five years of their career as Real Estate Agents is that they didn't have any strong value proposition. This is a saturated industry that everyone wants to get into. Unless you have a solid value proposition to give to people other than “Hey, I'm a realtor pick me.” You’ll barely survive in Real Estate.  

• Change your tactics. 
  If your current strategy isn’t serving you, it’s time to change tactics. John was a struggling and broke agent for 5 years until he realized the strong need to change his strategies. Instead of doing the normal route of “Hey, I’m a realtor, pick me”, he started doing the Hunting Tactics. This is where you present a “bait”, otherwise known as value to your clients. If John stayed the same, he would still be the same old struggling agent for the next 5 years. So starting today, have a thought about what is your Value Proposition.  

• If you want to be the boss, you need to pay the cost. 
  You need to be ready to step up all the way and be accountable for your actions and efforts. You'd be surprised at how much time you can find to call your leads. You’ll be surprised to find out how many objections you can overcome and how good you can be when your back is against the wall.
  
  
•  You need to learn before you earn. 
   Whether it’s in Real Estate or in any area of our life, we all know that Knowledge is power. Learn all you can from coaches, master the scripts, learn the tricks and tips of the trade. Find out what you are really good at. If you’re not good at cold calling people, then don’t do it. If you’re not so big on Open Houses, then stop doing open houses. I’m not saying open houses don't work. However, if you find that there's a better way and you think you are better at something, then go for that particular thing that you are really good at. I literally cast a “bait” and the fish come to me and that's what truly changed my business. 

• Everything could fall apart
  You have to move with the flow and move quickly. When John experienced this, he didn’t have time to mope around, he set his goal of rebranding his entire business. Nothing is worse than climbing on the peak of your career only to go back to the beginning or just to never see it at all.  Knowing these things, be prepared to restructure your entire business from scratch and be consistent in putting in your effort, especially if you're a brand new agent. 
  
  
•  Real estate is hard 
  It really is, but it doesn't have to be completely taxing. There are days when it is going to be easy. Sometimes, you would see deals just fall out. There are people who ended up getting pre-approved when they shouldn't be pre-approved. This is why it's important to surround yourself with a solid team and squad that surrounded you. Another thing that I want to be very clear about is that everything works and everything don't work at the same time. The difference lies in what you're going to put into it and how hard you're going to put your strategy to make it work. The bottom line is, there are so many ways to succeed in this business. 

Let’s talk about the current state of New Construction in 2022.

New Construction Sales People know that their homes are well overpriced. If a consumer goes without representation, and they're not educated, they're going to be paying well above what this particular brand of housing is worth because they don't know any better. Hence, it’s important to make yourself known to these sales reps so that they know when you bring in a customer or client,  they can't fool you because you have established a great working relationship with them. 

 The New Construction Market needs us more than ever. Some builders have changed their process of getting under contract or on getting on the waitlist. That is why it is so important to build your relationship with those builders right from the start because at this rate if you don't buy what we do know is that you just won't have a place to stay and the rent is going to surpass you. As professionals in the Real Estate industry, we need to be more vocal about stopping our 

clients from purchasing what certain builders are purchasing in certain areas where we feel that they are price gouging or even targeting. 

 As realtors, it is our duty to deliver that information to our clients and give out our opinions to them. You have to let the client decide what they want to do, Definitely recognize the thin line between discouraging your client from buying a home and presenting them with your opinions based on facts from the appraisals and CMAs. 

3 Major Keys to Sell In the New Construction Market

•  Marketing is so important in a new construction home arena.
  You need to ask yourself this question: “How do I make myself different in this market? How do I become that expert that people run to for new construction? It goes back to knowing your value. What are you providing differently? Whether you’re marketing on Social media or not, you have to be very specific on who you're calling out in your ads. Know your target audience and  You just can't be a generalist.  
  
  
• Know who to attract and which platforms to use. 
  When it comes to advertising especially on social media you need to be able to speak through and relate to your target audience. Pick out a platform where your target market is going to be and stick with it. Some people want to be on Facebook, while others want to be on Instagram or TikTok. So drill in on one platform and go very hard on that. 
  
  
•  You need to come up with a marketing budget
  Everybody talks about posting on your social media for free. However, now with algorithms, you need to pay to play. This is a business so you need to have a budget set aside for marketing. Everything cannot be free because that's not really a marketing plan to rely on everything being free or just for referrals because you can't really gauge. I  don't think I  have yet to have somebody give me their referral breakdown of how many past clients they have to call before they actually get the actual referral or if they can set that on auto-repeat without doing anything. In order to run a business, I don't think that's even a business to just rely on just referrals. It's like what are you pouring back into your business. Have a marketing plan and set a marketing budget so when you do receive those referrals we do get these nice commission checks you can pour it back and sell them back and pour them back into your business so that you can get brand recognition. 

When working with leads for the New Construction Market, always come to your builders with a strong value proposition. Tell your partners, this is the kind of audience that you can bring to them and present how you can be a strategic partner, how can you stand out and what value can you add to them if you have a following. You need to ensure that your marketing capture or offers something of value that can close more business. 

Click the video below to see the full replay of the Mastermind last week!