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As we gear up for Season Two of Breaking Ground, we wanted to thank you for the massive influx of questions that we’ve received in our inbox over the course of our first ten episodes across Season One.

In this special episode of Breaking Ground, our host, Len Dugow, gathered the 6 most common and powerful questions that came in and shared his thoughts.

Check out the full Q+A video here:

Q: What core factors are fueling new development traction recently?

New development activity reflects a confluence of market forces. On the negative side, high material expenses, rising insurance costs, and shifting capital market dynamics have posed construction hurdles. But indicators now point to stabilization if not outright improvements on multiple fronts.

Mortgage rates appear to be moderating after hitting 20-year highs this fall. Meanwhile, housing demand is proving resilient as rates back off peak levels. In fact, mortgage applications just posted their largest single-week gain since February 2021. Raw construction materials like lumber have also eased cost pressures.

As the supply-demand imbalance shows early signs of improvement, developers are moving forward with stalled plans. The combination of stabilization, pent-up buyer demand, and lean existing inventory will likely spark significant new project momentum in 2023.

Q: Why are more agents and homebuyers pursuing new construction in this environment?

With resale listings at generational lows, new development presents rare and relatively turnkey inventory alternatives. These brand new builds are especially alluring given prevalent buyer fatigue around cutthroat bidding wars and extensive renovations.

New construction also promises modern design and energy efficiency absent from many existing homes. And developments here incorporate lifestyle perks like resort-caliber amenities you simply can’t retrofit. With private capital increasingly targeting the Sunshine State’s high growth potential, new projects will only proliferate.

Incorporating new development into buyer and agent focus expands options where pickings are slim. Established local agents emphasize educating out-of-state referrers on introducing these communities as they ramp up referral efforts as well.

Q: How are onsite brokerages evolving their sales strategies to engage outside agents?

The vast majority of new development sales involve an outside agent rather than direct builder transactions. This agent-driven model is well-understood by developers who bake significant commission budgets into their pro formas.

But with more competing projects than ever targeting finite agent mindshare, onsite brokerages must get creative capturing referral attention. Digital outreach via social media and email nurturing is now table stakes. Many also host in-person events offering networking, education, and deal incentives.

Relationship building remains central though, with sales directors embracing old school “dialing for dollars” phone prospecting. They highlight lifestyle synergies and value props customized to specific agent clientele. Creative financing assistance for qualified buyers also helps brokerages stand out.

This hand-to-hand engagement recognizes agents as the customer. Tailored messaging communicates how each community delivers an ideal fit for an agent’s buyer profile. Brokerages taking this bespoke consultation approach tend to attract steady deal flow regardless of market swings.

Q: What role is technology playing in facilitating new development sales?

While analog outreach still moves the needle, digital platforms streamline the sales process end-to-end. Centralized CRM databases help brokerages track outreach efforts and onboard new referrers faster.

Marketing automation also nurtures inbound leads with drip email campaigns and SMS re-marketing. And interactive floor-plan visualization helps buyers envision finished spaces more tangibly.

Consumer-facing tech is also paramount providing self-guided browsing and research. Our DASH platform, for example, serves as a hub for agents to easily explore hundreds of developments with latest pricing, layouts, and availability 24/7. They verify credentials once for instant unlimited access.

And by aggregating materials from multiple builders in one intuitive interface, DASH also helps agents identify well-matched options across portfolios. This saves hours of digging otherwise required to align buyers and communities effectively. It’s a true productivity game changer.

While analog selling endures, technology alleviates friction at every touchpoint. AI now even handles lead follow-ups at advanced brokerages, freeing teams for higher value conversations. Implementation requires balance, but human+machine approaches outperform either in isolation.

Q: What are best practices for new agents breaking into luxury development sales?

The world of multimillion dollar condos and custom estates operates differently than mainstream residential. Unlocking success here starts by understanding one guiding principle – luxury projects sell stories more than bricks and sticks.

Developers attach globally renowned hotel or restaurant brands lending pedigree and service quality assurances. Famous architects and interior designers inject visual allure and exclusivity. And amenities like private theaters, cigar lounges, and wine tasting rooms evoke aspirational lifestyle visions.

This narrative selling strategy also applies to individual listings, emphasizes elite case studies. Position luxury spaces as vessels for creating exclusive memories via one-of-a-kind features and finishes. Then help imaginations wander picturing the possible against a dramatic backdrop they can’t duplicate elsewhere locally.

While posh developments wow on aesthetics, new agents must articulate the emotional payoff too. Know which brands promise what experiential benefits then vividly connect those dots for buyers seeking to elevate daily joy and social status. Master messaging greater purpose over features and you’ll earn trust – and referrals – in the lucrative luxury sector.

Q: Do you have any advice on building lasting real estate relationships?

At its core, real estate is a people business fueled by relationships and reputation. Over long careers, the top performers build expansive yet close-knit networks they leverage to drive mutual deals.

But productive partnerships don’t materialize overnight. Like any trust-based bond, they require consistency, transparency, and shepherding shared interests.

Whether an in-demand superstar or rookie on the rise, apply first-things-first fundamentals: Say what you do and do what you say. When opportunities arise to support your partners’ priorities, seize them.

And while marquee “movie star” roles remain rare, excel at playing whatever position you’re in with passion and integrity. In time, a tribe of loyalists will cheer your success at each step as you cheer theirs along the way.

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