Unlike custom homes, where the buyer is typically involved in the design and construction process from the start, spec homes are built based on the builder’s speculation about what will appeal to potential buyers in the market. These builds are often constructed in new developments or established neighborhoods where there is demand for new housing, and a potential for a quick sale.
Once completed, these properties are often listed on the market through real estate agents or even directly by the homebuilder. The goal is to sell the property as quickly as possible to recoup construction costs and generate a profit. In some cases, builders may offer incentives or promotions to attract buyers, such as price discounts or upgrades.
Given the financial nature of selling spec homes, real estate agents must know how to effectively market these properties to attract qualified buyers. This involves a comprehensive marketing strategy that covers every aspect of the sales process, from initial lead generation to closing the deal. The following marketing tips are intended to help both seasoned agents and newcomers alike in strategizing effectively to convert interest into action on a spec property.
5 marking tips for selling spec homes
Every home sale requires strategic marketing efforts to succeed. However, when it comes to selling spec properties, the approach may differ due to the level of investment a builder may have in the new build. As a result, real estate agents may feel added pressure to effectively showcase the features and selling points of spec homes, as they often represent the builder’s investment and vision.
Here are five key tips to consider when marketing spec homes in the future:
Identify your target market
Is your ideal buyer a first-time family searching for a home to call their own, or perhaps retirees yearning for the perfect place to enjoy their golden years? As the agent listing the spec home, understanding your target market is imperative to potentially attracting the right buyers in a short time frame.
If the home is located in a new development that caters to young families, your marketing efforts may focus on highlighting nearby amenities such as parks, schools, and family-friendly activities. On the other hand, if the spec home is situated in an area popular among retirees, emphasizing features like single-story layouts and serene surroundings could be more effective.
It’s crucial to analyze the specific features and design elements of the spec home to determine your target market. Let these characteristics guide the initial stages of your marketing strategy, ensuring that your efforts resonate with potential buyers who will appreciate and value what the property has to offer.
Invest in high-quality visuals
Many spec homes come decked out with luxurious finishes, modern amenities, and unique architectural features that are specific to a builder’s portfolio. For example, these pre-built homes may feature custom cabinetry or state-of-the-art appliances in the kitchen, setting it apart from other properties on the market. But what truly makes these sought-after features stand out?.
By investing in professional photography, videography, and 3D virtual tours, you can highlight the beauty and uniqueness of the feature property, capture the attention of prospective buyers, and quickly, achieve a successful sale. These visual tools allow potential buyers to immerse themselves in the property, exploring its every detail and envisioning themselves living there.
When it comes to marketing new construction listings, like a spec home, HomeJab’s expert services can take your efforts to the next level. With our team of professionals, you can elevate your property’s presentation, ensuring it stands out in a competitive market and attracts discerning buyers who appreciate quality and craftsmanship.
Social media is your ally
Similar to pre-existing homes, spec home sales can greatly benefit from a strong presence on social media platforms. Social media has become a powerful tool for real estate marketing, allowing agents and sellers to reach a vast audience of potential buyers and engage with them in meaningful ways.
Platforms like Instagram, Facebook, and X offer the opportunity to showcase spec homes through visually appealing images, videos, and virtual experiences. By regularly posting updates, sharing high quality photography, and providing valuable insights about the property and its features, you can generate interest and excitement among your social media followers.
Moreover, social media provides an avenue for direct interaction with prospective buyers. You can answer questions, address concerns, and build rapport with them in real-time. This personal touch can go a long way in establishing trust and credibility, ultimately increasing the likelihood of converting social media followers into interested future homeowners.
Watch the video for extra marketing tips:
https://www.youtube.com/watch?v=0LiMjog1aXM
Highlight the time benefits of spec home sales
One of the primary advantages of a feature home entails saving time compared to building a custom or pre-sale house from scratch. Rather than prospective buyers spending months researching and planning, purchasing a spec home allows them to acquire a brand-new property with a much shorter timeline.
As the listing agent, leveraging this substantial time-saving benefit can serve as a pivotal selling point when promoting and selling spec homes to prospective buyers. For example, when crafting marketing materials, you can emphasize the quick process of purchasing a spec home. Buyers can easily move into their new home within just a few weeks compared to other custom builds.
This accelerated process is particularly advantageous for those who are in a hurry to move in. Whether due to job relocations, changing family circumstances, or other pressing reasons, the ability to secure a new home quickly can alleviate stress and provide much-needed peace of mind to buyers eager for a swift transition.
Flexible financing
According to Bankrate, in general, spec homes are more affordable than other types of houses, making them an attractive option for buyers with varying budgets. Given that financial considerations often play an important factor in home buying decisions, real estate agents can leverage this aspect to appeal to a broader range of buyers.
For buyers eyeing new construction listings, it’s easy to highlight the advantages of purchasing a spec home in terms of financing. Unlike custom-built properties that may require homeowners to obtain construction loans, financing for spec homes is typically more straightforward and accessible. This is especially beneficial for buyers who may not qualify for or prefer to avoid the complexities associated with construction loans.
Overall, whether it’s through conventional loans, FHA-insured loans, or special financing arrangements offered by the builder, spec homes provide buyers the opportunity to secure financing more efficiently and with a quicker turnaround.
Are you looking to showcase your spec home in its best light? Connect with HomeJab today
Do you have questions regarding these marketing tips? Are you a real estate agent who is new to selling spec homes? Reach out to us to learn more about our comprehensive range of services and discover how photography can advance your spec home marketing strategy for better success.
