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Tips for Tapping into New Home Builds

The Dallas-Fort Worth area is home to some of the hottest real estate in the country, and the race for securing new inventory is about to get even more fierce. Working in a high-demand market has obvious drawbacks such as low inventory and stiff competition, but there’s always a silver lining. Last year’s reports show new construction hit a milestone with its fourth consecutive annual gain and an 18.3 percent increase in residential housing over 2012. If you can cut out the other players by working directly with active builders, you can instantly turn a tight market into a big advantage.

So how do you establish the kind of builder-Realtor relationships that can get you exclusive access to new DFW stock as soon as it becomes available? Defining how a business partnership benefits both sides is always the best place to start. In high-demand markets, real estate practically sells itself, so it’s up to you to convince builders you can bring something unique to the table in exchange for the right to represent their newest listings. Builders are typically wary of aggressive Realtors who want to dominate the sales process, so you want to position yourself as someone they can trust.

Think about how you can be an asset before you even have a conversation about working together. Connections to clients who fit the builder’s target demographic, insider market knowledge on what buyers are looking for right now and a long track record of successful sales are all qualities that can convince busy builders you’re the all-star they need to move new inventory fast at market-rate prices. Be confident but realistic. While a little professional bragging can make you a frontrunner for the best builder-Realtor deals, you don’t want to make promises you can’t keep. Remember the top builders keep building year after year. The classic under-promise and over-deliver sales mantra can go a long way in helping you create lasting relationships that pay off big over time.

When feeling out potential partnerships, always keep in mind that you’re in a two-sided conversation. Some deals that look good on paper can turn into disasters in reality. While big projects with multiple listings sound attractive, you want to consider advertising costs and your schedule. Keeping up with requests from potential buyers and holding open houses for a long-term supply of new construction can be stressful and exhausting if you’re also working other listings. To avoid getting in over your head, do plenty of research and soul searching before committing to any agreements. The Dallas-Fort Worth real estate boom isn’t slowing down any time soon, so you shouldn’t be afraid to walk away from a deal that just doesn’t feel right.