DOBI New Construction Panel | DOBI

DOBI New Construction Panel

Learn From the Best in the Business

Let’s Talk New Construction. With inventory remaining low over the last couple of years, new construction homes have increased 22%, the highest it’s been since 2006. In fact, one-third of houses for sale are new construction, an all-time high, according to Forbes. Building permits are also up 9.1%, just another sign new construction will continue to dominate our market and help fill the gap for continued inventory shortages.

Three of our agents, George Thomas, Vic Simjanoski and Saverio Montalto came together to talk about their niche in new construction home sales. They touch on and how to manage the land purchase, home build and, client expectations in our New Construction Panel video.

The easiest way to create inventory is to build houses. Even if the economy isn’t the best, you know you’ll always have the listings you’re building. Although many of those new construction opportunities have some HOA considerations that you need to keep in mind, with new construction you won’t need to be in as much of a competitive mode as you would with existing sales. That is a better experience for both the agent and client. Expectations need to be managed with clients when looking into new construction.

Building new can feel like you can get exactly what you want but, it is not without a price. We see that managing real expectations is key when working with clients on a new build. This goes for everything from square footage, materials and, fixtures. Finally, resale value when building should always be in consideration. For example, a carpenter is going to charge just as much in Birmingham as he will in Shelby Township but, the price that does change is your land value. So, if you’re looking for a bigger home at a smaller price point, considering where you’re going to build is going to be a big decision.

Watch the full panel here for more about new construction homes from three of our agents who have made a career on it.