Episode 7: Breaking Ground: Insights into the New Construction Real Estate Market
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Episode 7: Breaking Ground: Insights into the New Construction Real Estate Market
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In this episode, Oregon REALTORS® 2024 President-Elect Brent Landels discusses his career in the new home construction market and provides insights into the advantages and challenges of working in this niche. He shares his experience in finding parcels and assessing their potential for development. Brent also highlights the lengthy approval process and the costs involved in new construction. For REALTORS®, he explains the benefits of specializing in new home construction and the potential for creating their own inventory. However, he also acknowledges the drawbacks, such as working weekends and the loss of flexibility compared to the traditional real estate market. He discusses different markets and lot sizes, the challenges of building on smaller lots, and the role of a REALTOR® in new construction. He emphasizes the importance of solving problems and understanding builder motivations. He also talks about finding builders to work with, getting involved with the local builder’s association, and the differences between working with custom builders and spec home builders. Brent shares tips on prospecting for parcels, building relationships, and the hard work and rewards of new construction.