Doing business with builders and developers is a long-term investment.
Do you know how to get the attention and impress the builders and developers in your area?
Today I’ll tell you what you need to know to start bringing value and eventually start doing business with these potential clients. First, you need to know that nothing happens overnight so you will need to be play the long game. With them, it’s a marathon, not a sprint. Remember, they primarily care about “whats in in for me?” (WIIFM)
Builders and developers are all about playing the long game.
“If you do a good job for one, you can leverage that into other opportunities.“
Recently, we partnered with national builder Pulte Homes. According to them, until we helped them with the Loretto Club, they’d never hired an agent to represent a subdivision in the state of Illinois. They struggled to previously sell some of their properties, and it took us years to develop that relationship.
Fortunately, we’ve done really well and gotten a lot of properties under contract for them, but it didn’t happen overnight. It was four years in the making, staying in communication with them, checking on their various projects, inviting them to our events, and bringing value to them.
If you invite some builders and developers to your events and stay in communication with them, at some point the market might soften. Supply will increase, as will the days on market, and at that point, they might be open to having discussions with a broker. Which broker will they have a discussion with? Probably the one who’s stayed in touch with them and brought value to them throughout the years.
To reiterate: It’s all about the marathon, not the sprint. It’s no different than if you won the lottery—your financial advisor would talk to you about short-term and long-term investments. Developers and builders are long-term investments. If you do a good job for one, you can leverage that into other opportunities.
We “got in” by bringing value, whether that means providing market data, bringing buyers into a subdivision, developing relationships, adding online exposure, etc. We recently led with a giving hand to a developer in our area by sending them a bunch of drone shots of their various subdivisions. We noticed that they listed their own properties on the MLS but didn’t have any drone images. After the success we’ve had with other new construction builders in the area, we’ll follow up with them, and hopefully, they’ll remember us.
Everybody wants to do business with builders and developers, but it’s not easy. You have to be in it for the long haul.
As always, if you have questions about this or any real estate topic, don’t hesitate to reach out to me. In the meantime, keep raising the bar!