With interest rates near all-time lows, and home sales on the rise, one would think buyers would be snatching up lots and teardown properties left and right. But they are not. Why?
The realty is many buyers want to build new homes, but hesitate because they know nothing about the building process and it seems intimidating. Once they buy the lot or tear down where do they go from there? How do they find an architect, a builder, get permits, estimate costs, etc? The whole process can be overwhelming and it can discourage them from pulling the trigger.
In addition, the visualization a buyer has when looking at existing properties is not there to create an emotional attachment. In other words, buyers find it difficult to picture their new home complete on the lot. Logic says buy the lot, but the emotional appeal that actually brings them to action is missing and we all know that purchasing a home is a very emotional process for most buyers.
Whether you have a vacant lot listing or a teardown, the challenges can be great and the compensation low. NAIHBR can change that by providing two new marketing programs that get you more exposure and increase your commission amounts.
Whether you have a vacant lot listing or a teardown, the challenges can be great and the compensation low. NAIHBR can change that through its partnership with Proposed Properties by providing two new marketing programs that get you more exposure and increase your commission amounts.
Let’s face it, real estate is a numbers and timing game. We need to find the right person at the right time who is interested, motivated and financially capable to get a deal done. Naturally the more offers we have in the market, the more opportunity we have to find that person.
That is exactly what Proposed Properties does when partnering with real estate professionals. We provide a second or even multiple options to market lots, tear downs or renovation candidates.