4 top tips to tailor your approach to the new build market

What would you consider to be the most important aspect when dealing with buyers in the new build market? We’d argue it’s communication, communication, communication.

Focus on the client experience

In general, a new build buyer tends to be at the younger end of the scale. It’s likely to be their first home so it will be a special time for them. No matter how long you’ve been in the mortgage business, try and share in their excitement and make them feel special too. Show them you’re doing your utmost to make everything go smoothly. Think about any concerns they may have and reassure them. A large part of this will be about being accessible and communicating regularly. It’s also a good idea to have a team in place who identify with this audience – someone who has gone through the same experience recently and will understand the issues.

Manage expectations

Your buyer will not have been through this process before so it’s absolutely crucial that you keep them up to date at all stages. Even if the message is just to say that ‘not much has happened this week but everything is still OK,‘ it shows you’re thinking of them. This makes the difference between a 3 star service and a 5 star one. Use different types of communication, such as WhatsApp, FaceTime and text rather than just email. Consider how you can use technology to provide buyers with regular notifications. Dashboards are great for enabling your clients to check in and see where everything is up to. Has their valuation been agreed? Has their application been approved? It will help you to manage their expectations and make them feel more in control of the whole process.

Find the right type of lender 

Search the market for a lender that understands the new build market; one that provides direct access to underwriters will help ensure a quick turnaround of applications and iron out any niggles at an early stage. Ask about flexibility in terms of extended offers as, inevitably, new build projects won’t always go to plan. A commonsense approach is also useful for first time buyers with regard to credit ratings etc.

It’s the little things…

And finally, providing a welcome pack in your buyer’s new home with a few essential items they might need on that first day will make a great impression and help you stand out.

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Video

Find out what brokers think of Accord’s new build offering in this subtitled video.

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