Do i sell off the plan, or go to auction? That is the question
Did you know The BuildHer8 project AKA Rathmines is almost at lock up stage. What an accomplishment, right?!!! Even with all the COVID lockdowns and availability of stock, Beirin Projects have kept on schedule and surpassed our expectations.
By now you know that we use the legendary Sam Rigopoulos from Jellis Craig, the leading agent on the North side. He knows the market well, has worked closely with many of our BuildHers, and has a real knack for what we like to call “real estate match making”.
Despite not even being close to a sale date, Sam has been spreading the word and has taken a handful of Rathmines potential purchasers through the homes already. What does this mean?
Potentially selling off the plan!!! Something we had not even considered.
OPTIONS, OPTIONS, OPTIONS!!!
Now, don’t get us wrong, we have worked so long and hard to get to this point so it would be super cool to see both properties finished, styled and auctioned in October. However, as DevelopHers we all know it is better to explore all the options to see which path is more feasible.
It’s a tough call, but one we think is worth investigating.
After digging deep with Sam and his super talented team, including our own BuildHer Paula Beavis, we learnt a few things about whether selling off the plan could be the best strategy for Rathmines.
What do we mean by “selling off the plan”? Well this means that we prepare a specification and the plans, and sell the home before we are finished.
We’ve listed our Top 5 Tips to successfully selling off the plan below.
1. Demonstrate Value
Potential buyers will be buying something sight unseen, so they need confidence in your ability to deliver what you are offering. This is where your brand will come into play.
There is an expectation if you are buying the home from a particular developer that you will be getting a product of a certain standard. If you have demonstrated that you build lovely beautiful high quality products, then it will be easier for the buyer to understand your offering.
Great homes are scarcely available and if the home you are producing is unique and of a great standard, then some purchasers would love to be able to purchase off the plan early and guarantee their end product without the stressful auction campaign.
2. Renders will help you sell off the plan
Although costly, investing in high quality renders and brochures of your home will certainly pay off. Potential buyers want to see the vision and direction you are headed and without these, you may find yourself with an empty property with no buyers in sight!
You can see with our Rathmines project we prepared renders for each of the projects so purchasers can see the difference and understand the spaces.
Not everyone can read plans and understand how finishes come together. This is why spending the time and energy preparing these and getting the details right will help you sell your home off the plan.
3. Get your Mood boards and Documentation in order
Building someone’s dream home is a privilege. The documents you will prepare to sell your home off the plan should tell the story of how much better life will be when you live in this home.
You will need to take the purchaser on a journey through the spaces, a journey to help them understand all of the wonderful spaces you have designed.
Presenting potential buyers with a tangible materials mood board that they can touch and feel helps people to understand how the finishes will come together, what the tones of the homes are and how stunning each space will be. When you present physical items, the home starts to feel real.
Well documented schedules are also important as they allow the client to go over all the selections and even potentially make some changes at this stage, if they would like. It allows for some flexibility and movement in the fixtures and fittings and colour schedule.