Generally I list my builders new construction before the footing is poured. I keep a house plan in my office and several times homes have been sold before construction. The problem is when a new construction is listed, takes six months or longer to build, and the days on the market are misleading. The home is not finished so the days on the market would be longer!
I'm talking about a stable market here, not one where the builder is trying to unload 75 homes and is on the edge of bankruptcy! Don't think the builder in a stable market is going to take a 25% reduction, just because you think it has been on the market a long time! Educate your buyers that the days are not accurate because the builder did not have the home finished.
Selling new construction is not the same as selling residential homes. Builders get upset when they are presented an offer that is $40,000 off the listed price! What agent would list a home and price it $40,000 higher? Give me a break! Builders generally have an appraisal on the home they are building, they know what it is worth.
Please, the next time your buyers ask, "How long has it been on the market?" educate them that the days are not accurate.
I am a Realtor with RE/MAX Advantage Realtors in Searcy, Arkansas. I love working with builders!
http://maryjpaul.com
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Good point, Mary. Some buyers also need to be educated that although the market may be slow, there is still not blood in the streets (thank goodness).