How to sell off-plan property

It comes as no surprise that as a real estate agent, you’re expected to do the impossible. More so when you’re dealing with off-plan properties.

Selling properties off the plan can be quite tricky. Where brokers handling ready properties can show clients what a home looks and feels like, you can only hope that a show unit will suffice for would-be buyers. In the absence of this, you’ll have to keep your fingers crossed and make do with artist impressions. Fun!

With an increasing number of buyers looking at and willing to go for yet-to-be-built properties at the moment, there’s never been a better time to be an off-plan agent. Sure, it has its unique challenges. But there are several steps you can take to be successful.

To get as many practical tips as we can, we sat down with Wassim Abdallah, Betterhomes’ off-plan manager. With over 15 years of experience in the field, Wassim is a treasure trove of handy tips and tricks which helped him establish himself in his career.

Here are Wassim’s top five pieces of advice for up-and-coming agents or even those who wish to brush up on their skills in the trade selling off-plan properties.

1. Know what you are selling inside and out

As with all things sales, how well you know your product is paramount in this profession. Your mastery of the advantages and disadvantages puts you in the best position to explain to potential customers why they should opt for what you’re offering versus the multitude of options out there.

Get your hands on as much information as you can. From the completion date down, fittings and finishes, contracts, payment options, structural details, and even the background of the developer. Don’t stop with just brochures and factsheets. Check for press releases as well as news content. While you’re at it, know more about the location and surrounding areas.

Getting in touch with the developer is a great step. If there’s anyone who has the need to know and nice to know information about the property, it’s them.

2. Be familiar with other new projects in the area

Now that you got your base covered, stretch it out further and broaden your search by checking the competition in the market, zooming into the area you specialize in.

Aside from narrowing down their options based on location, potential buyers consider other properties within a specific price range. For you to improve your ability to sell, you need to be able to position what you’re offering as more desirable compared to what else is out there.

Start by identifying other developments and projects within the area and branch out from there. Do this while jotting down aspects that make your specific property unique compared to others.

3. Learn more about the secondary market

As a broker, every little bit of information helps. Whether that’s related to off-plan properties or move-in-ready ones, taking a pulse of the market and current trends can get you far ahead.

With buyers vacillating between the off-plan and secondary market to score the best value for their investment, it pays to know what’s being offered on both sides.

Just as you would check for other new developments in the area, gather as much information as you can on the activities and numbers in the secondary market.

4. Partner up with a good closer sales representative

Hopefully, you already built a network with other key players, especially from the side of developers. If you haven’t, it’s never too late.

Establishing solid working relationships should not end with sellers and buyers. This is especially important in the off-plan market, where you derive most of your business from developers who you will represent and work closely with one way or another.

Knowing representatives from the developer’s side will help you in seeing a deal through. This ensures that the level of service you started lasts throughout the entire process. Why? Because it makes for easier and faster procedures and processes, especially during the final phase of the deal. You can and your client can even be prioritized if you’re extra nice.

5. Don’t forget the post-sale service

What distinguishes a great broker from the amateurs and the inexperienced? It’s the post-sale service. To deliver a truly remarkable experience that spans from start to finish, one-up the competition by ensuring you got a good aftersales service plan put in place.

Not only does a well-thought post-sale service make you a professional agent, it also makes you stand out as a genuine one who looks after your clients after the deal is done.

There are plenty of ways you can do this. One of them is to schedule a reminder to follow up and check-in with the client after some time. Tiny gestures like this can reap big rewards. It can lead to increased client retention as much as it opens doors for referrals.

Got a tip to add to this list? Let us know. Meanwhile, if you’re looking for an opportunity to join Betterhomes as a commercial or residential broker, get in touch today.