Are both you and your community’s builder trying to sell a home where you live? If yes, see how you can use the situation to your advantage!
New Home Construction - Are You Competing With The Builder?
If you are in a new community that has not been completely sold out or where the construction is complete but the builder is stuck with some spec’d out homes, you would be in a way competing with the builder if you try to sell your own home.
Since your home might already be used for a few years at the least, the builder’s homes are normally new. It becomes really difficult to sell a used home that you had bought when the prices were high when new homes are available for much less or the same price in your own community.
Secondly, a builder can have the open house days daily whereas you might have only one day or a few hours every week. Therefore more prospective buyers get to see the new homes than the ones like yours. Obviously that makes the chances of the new homes getting sold first than yours.
The good part is that is can be used in your favor! The sooner the new homes get sold out, the quicker the competition ends for you. Unless you have to have your home sold right away, it might be prudent to hold off till the builder has sold his homes and moved out of your community for good.
Many builders provide a commission to the people who refer new customers. If the builder’s home is sold out, the referrals have the potential to earn some money. In that case to get the builder done first, instead of trying to sell your own home, you can start referring customers to the builder and in turn make some money. When the builder is done for good, you would be in a better position to sell off your home at a higher price.
If the homes in a community get sold faster, even if they are the builder’s, the word of mouth spreads about the rush and there is a huge chance that a lot of customers would flock to your community looking for homes. With more demand, you may easily get a better value for your home!
Therefore, if you are competing with the builder, it might be a good thing for you! Take advantage of the situation and sell your home at a decent price!
