Part 1- Realtor/Builder Relationship- How The Right Custom Builder Can Put Money In Your Pocket.
If you get Out of bed and ask, how can I put money in my pocket today, you’re not going to be successful in any business. I know it’s difficult to see past the financial demands of running a business and providing for your family but it’s not all about you, it’s about the customer. In fact, you might have a few different customers in your real estate business. Home Buyers, Sellers as well as Custom Home Builders. Try and think about your Builder Team Member as your customer. If you meet the customers needs the money will follow.
The right Builder can put hundreds of thousands of commission dollars in your pocket over the decades. Actually, not only will you make money from your Builder customer but he’s going to tell all his Builder friends about you too! Let me provide an example of a Realtor/Builder, win-win.
Builder Open House- is a perfect example how the right Custom Builder can put money in your pocket. Let’s say, your Builder Customer is constructing a pre-sale for a client that called him directly. You were not involved in the transaction at all and no commission is coming to you on this deal. Not to worry, all is not lost! Money is coming your way but you have to prime the pump first.
The Builder is expecting to finish the home next month and wants to drum up additional customers that also want to build a home. The Realtor offers to host an open house for him and help put deals together. Pre-sale buyers are going to need a building lot and they also have an existing home to sell. The Realtor has an opportunity to meet neighbor's and others that are just curious to see what the new home looks like. Are you starting to get the picture?
Additionally, the Realtor can negotiate a commission on any deal the Team puts together during and after the open house. As long as individual members don’t get greedy this open house is going to be fabulous for the Team!
Parade OF Homes- Ok, now let’s take this to the next level. Suppose your Custom Builder Customer is busy building lots of new pre-sale homes and you are not involved with any of those transactions. Hang in there, payday is coming! The smart Custom Builder has already created a win-win with his pre-sale customer. They have agreed to enter their completed home in the yearly “Parade of Homes”in exchange for attractive pricing and additional home features.
The Builder paid a fee to enter the home in the event. The Parade of Homes generates hundreds of potential prospects. The Builder needs someone to staff the home with him and provide the same services as a normal open house but with lots more potential for Builder/Realtor business.
I’ve seen Parade and Show home events with more than 1,000 visitors over 2 weekends. Sure, not all of the traffic is ready to buy or build but there is lots of potential.
The key here is the right Builder/Realtor combination along with trust and big picture thinking! A relationship with a Custom Builder is something that has to be cultivated. If your walking around with “dollar signs ($$$$)” blocking your vision then you are going to miss out on a valuable business relationship.
Call up a Custom Home Builder today and tell him your ready to help him make money!
Read More- Developing a Builder/Realtor Relationship
Read More- Are You Paying Your Realtor Too Much Commission?
Read More- Should I Ask My Realtors Advice Before Building A Custom Home?
Have an awesome day!
Mike
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