Home Selling in Cypress>Question Details

Lbocktx, Home Seller in Cypress, TX

How do I compete with builders?

Asked by Lbocktx, Cypress, TX Tue May 24, 2011

Can realtors familiar with cypress tell me what builders are doing to get their homes sold over resales in same neighborhood. Resales only 2-3 years old with what new construction doesn't have (ie: landscaping, full gutters, window blinds, water softener not to mention many builder upgrades they have cut out like travertine floors.). My neighbor cant even get showings but new construction sold signs keep popping up. Ground up builds not even specs

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Jay Abeya’s answer
It is tough when you are competing against a builder as I live in a newer neighbor as well. You will need to get a good realtor that can go the extra mile to get your home sold. As a mortgage banker I work with some good realtors in the Cypress area so feel free to contact me so I can pass along there information. Have a great day.
Web Reference: http://www.kgcm.com
0 votes Thank Flag Link Mon Jun 20, 2011
Sounds like your neighbor is trying to sell the house themselves, and thinking they are saving money by 'do it yourself'. Selling a house in today's market is not easy for Realtors(R); we really have to work extra hard to find qualified buyers.

Competing with builders in your neighborhood may or may not be an issue. If your house is priced correctly & it's marketed in the real estate community, it will sell.

I would advise to de-clutter the house & stage it to sell!

If I can be of assistance, feel free to contact me.
Web Reference: http://www.amandahomes.com
0 votes Thank Flag Link Thu Jun 2, 2011
Price is the most critical factor these days. Everyone wants a bargain.
0 votes Thank Flag Link Thu May 26, 2011
First, you can compete with the price. New construction typically is much higher in price per square foot. Price your home at Fair Market Value for resale.

Second, if there is no spec homes available, your home is "available now". For some buyers who need to get into a home asap, that is a big incentive.

Stage your home well. Your competition is. You may have to fight for that sale harder and longer but you are ahead of the game with the extras like window treatment, landscaping, and any upgrades you may have done with the home.

There is a buyer for every home-maybe not on your timing but it will eventually sell. You just have to be motivated and do what needs to be done.
0 votes Thank Flag Link Tue May 24, 2011
As it has been mentioned the right marketing is very important to be able to compete with the builders, you have to make sure to highlite the most important features of the home, a good way to do this, other than prospects previewing your home is making a 'Single Property Website" for your home.

You can see an example of one at http://www.KatyTexas.info

By making a website for the home and advertising that website with a sign rider with the name of the website, neighbors who may have friends or family members wanting to move into the community will be able to see all about your home by viewing it in the internet, prospective new home buyers will also see the sign rider and check it out, the beauty of this 'Single property Website' is that it has all the information of the schools, tax information for your home, and it has a link to translate the website to 6 other languages.

If you like more information, feel free to contact me. Another example is http://www.Brookfield1.info
Web Reference: http://www.Casa4u.com
0 votes Thank Flag Link Tue May 24, 2011
A neighborhood pool is a big plus for home buyers in Houston. We have really hot summers and many homeowners do not want the maintenance of a pool in their backyard.
Web Reference: http://jessicaharless.com
0 votes Thank Flag Link Tue May 24, 2011
You all a big help thank u....can u tell me if a pool is the tipping scale. We have a great neighborhood pool and splash pad
0 votes Thank Flag Link Tue May 24, 2011
Great question!

Unfortunately, a lot of buyers just prefer a new house just like a lot of car buyers prefer a new car. A new home obviously comes with a new roof, new a/c, new hot water heater, etc. which in the mind of buyers means a maintenance free home for a long time to come.

As a seller of a resale in your neighborhood, you really need to focus on the value proposition your home has versus purchasing a new home as you touched on in your question. Your roof and A/C unit may not be new, but the buyer would get blinds, gutters, mature landscaping, better flooring, etc at a very competitive price. (The price part is key.)

Ideally, your realtor will do your home justice by highlighting these features in the listing write-up, including the maximum number of pictures (32) in MLS, creating a video tour of the property uploaded to YouTube, creating a dedicated web site for the property, and highlighting your listing on sites such as Trulia, Zillow, CraigsList, etc.

Please contact me directly if you have any other questions.

Best of luck!
Web Reference: http://cyfairrealestate.com
0 votes Thank Flag Link Tue May 24, 2011
Buying a new build home will in most cases cost you more than buying an existing home. Builders typically pay Realtors incentives to help move their properties. Some pay double or even more than the typical commissions paid on a typical home sale.

Builder homes have a number of issues to contend with. The home takes about 4-5 months to build and if you put in all of your upgrades the home can get expensive very fast. If your neighbor's home is not getting any showings it probably has less to do with the new build homes and more to do with the pricing of his home.

What they need to do is take a good hard look at the comparable homes and what has sold and see where there house fits into the market. There are plenty of people who need a home today and can't wait to build a home even if that was their preference. So to sell your home it needs to be priced right, show like a new build home and be turn-key ready to move into. Follow these steps and your home will sell for the highest dollar amount the market can support. Over price it and it will just sit without any showings.

Don Groff
REALTOR | Mortgage Broker | Consultant
Keller Williams Realty | 360 Lending Group
o.512.669.5599 m.512.633.4157
listings@dongroff.com
0 votes Thank Flag Link Tue May 24, 2011
Peters answer is so correct. Marketing is "key" and working with a full time Realtor is best as this is their profession beyond a "part time" hobby. Along with many many pictures, video virtual tours as well.
0 votes Thank Flag Link Tue May 24, 2011
Builders are cutting prices and giving large BTSA's (Bonus to Selling Agent). Make sure your neighbor has her house show ready and it looks perfect. If she has flyers or online adds make sure the upgrades are listed and maybe even a amount of what all her upgrades total to be. When she gets a showing she can type up a Welcome letter and have it in a frame on a counter/entry a place where a buyer will notice it. Have it to say something like we have made several improvements and upgrades recently including...... If you need any additional information about our property , please do not hesitate to call our agent. Good luck!
0 votes Thank Flag Link Tue May 24, 2011
Hi and thanks for the question. There are many aspects to marketing your home up against new homes. You are on the right type of thinking regarding upgraded or custom features your home may have that the builder's home doesn't have. The other big key is the marketing presentation online must be top notch (from pictures - the most important aspect, to descriptions that get a potential buyer interested in viewing the home, etc). Without seeing the home, it is tough to give specifics as to the best marketing plan for your home, since each home requires a unique marketing plan. Please feel free to contract me (via my contact page) if you would like more details.

Sincerely,

Peter Royster
RE/MAX Northwest
Web Reference: http://www.peterroyster.com
0 votes Thank Flag Link Tue May 24, 2011
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