If you have decided that building a new home is the right path for you, finding land is an essential step. If you’re not yet sure where you want to live, make a list of the towns and neighborhoods that you are considering along with the pros and cons of each so you can rank them. With this information in hand, you can start your search.
Successful realtors rely on multiple revenue streams to generate income through all types of market cycles. Some of these include typical home sales, land sales, property management, and partnering with custom home builders. With the latter, you have an opportunity to boost revenue by referring land clients who want to build a new home on the land you have sold them. If they decide to go with the builder you have recommended, you get a commission on the home, just as you would if you were selling an existing home.
Nearly a quarter of all homes built in the U.S. are “custom,” a figure that speaks to how many homebuyers crave the chance to create a one-of-a-kind house that works for the way they live. From the realtor perspective, the growing popularity of custom homebuilding presents some exciting opportunities. After all, many customers who are building a custom home need additional guidance through the process—and a realtor can be the perfect partner at every stage.
Realtors work with all sorts of clients, including those who want to buy an existing home, people looking for land as a long-term investment, and customers who want to purchase land and build on it right away. In some cases, clients are looking for the home of their dreams, but it doesn’t exist in the region they are searching. Customers with unique needs like multigenerational floor plans or single-floor living might struggle to find a home that matches their requirements without investing in a major renovation. Whatever the reasons might be, custom homebuilding could be the answer.
In job satisfaction surveys, realtors regularly rank near the top. There’s no doubt that becoming a realtor can be a satisfying and lucrative career move. But the first few years in the new position can be a challenge.