Description of Services for Realtors

Marketing Services

(For real estate professionals who currently manage a new home development and are seeking assistance in market research and planning)

Market Share - A study to identify development's total share of the entire building market per town, market, product or per other pre-determined set of criteria.

Competitive Study - To evaluate development's overall performance as it relates to it's closest competition. Competitive advertising, pricing, brochures, signage, standard features, sales personnel, target markets, sales, styles of homes, models or sales centers and differential advantages are taken into consideration. Competition comes in different forms. It may be similar projects in the same town, similar projects outside the immediate area and even different product lines.

Demographic or Psychographic Data of Target

Markets - Through Census and/or survey data, demographic and/or psycho-graphic data is collected to identify primary market's needs, desires, buying patterns and lifestyles.

Feasibility Study - This study is completed before a project is approved to determine the most feasible usage of the property from a sales and marketing viewpoint taking into consideration the hard costs of doing business.

Feasibility Studies provide many benefits:

1. Expedite town approvals
2. Assist developer in obtaining financing
3. Provide a solid marketing foundation for building a successful development
4. Assist developer in selling raw land or developed lots to builders or buyers
5. Saves the developer/builder thousands and sometimes hundreds of thousands of dollars by exchanging educated strategies for uneducated guesswork.

Market Analysis - This study is completed on a project which has already been approved and is under construction but, for whatever reason, is not meeting sales projections, or if meeting projections, whereby the builder's team is looking to maximize sales and profitability.

Marketing Plan – The marketing plan is designed based on some degree of formal research and outlines the promotional and advertising methods to be used quarterly and annually to attract “qualified” buyers on site. Outlines strategies regarding lot pricing, design portfolio and pricing, specifications and standard features, brochure materials, signage, advertising, model, sales team, etc…which is critical to the overall success and completion of the development.

Marketing Maintenance Program - Weekly inventory and traffic reports and surveys are gathered from on-site sales representatives and monthly market reports are generated summarizing traffic, sales and promotional activity. The marketing plan may be modified, new strategies formulated and recommendations made for the following month based on the results of current month's report.

Sales Evaluation – A “mystery” shop is done on site by a trained professional to evaluate sales personnel and/or the competition.

Newsletter – “The Navigator” monthly newsletter is designed to give developers, builders, lenders, investors and on-site salespeople an update on the local homebuilding market as well as national and local trends, economic forecasts, legal, financial and product updates, sales techniques, architectural, building, landscaping, interior design and marketing tips or more.

24-Hour Hotline – Designed for Magellan clientele under contract as well as for those building and real estate professionals who have immediate concerns or questions regarding the new home sales and/or building process.

Participation in The New Home Explorer® – Annual inclusion of your development(s) in a database to be marketed proactively to the real estate and home-buying communities as well as corporate and relocation markets.

 

Sales Support Services

(For those professionals who specialize in existing sales and would like to hire Magellan® as a consultant to serve buyers interested in building a new home)

Consultation Regarding Building a New Home
This consultation is designed to determine whether building is really a viable option for the client or the only option. A Magellan® consultant will discuss the building process in depth so the client clearly understands what is going to happen each step of the way.

Profile Client's Housing Needs
This profile assists in initially directing the client as they begin the search for a new home. Important criteria, such as location, school district, builders and communities, architectural style, square footage, price, floor plan, specific features and/or building needs are discussed. In addition, we profile the demographic and psychographic characteristics of the clients' current lifestyle: income, marital status, age, occupation, household size, number and age of children, etc., to identify the most appropriate building options for the client.

Financially Qualify the Client
Before a buyer can actively pursue any type of real estate, it is important to know his or her affordability range. Based on current income and debt ratios, we can identify the most sound investment for the client.

Consultation on Plan Design and Budgetary Restrictions
Buyers are often unsure about how to translate their building needs in terms of square footage and amenities into a floor plan and price range. They may not understand the cost difference between styles of homes or product types or which style product best matches their desired lifestyle. In addition, they may not understand how design change can impact building cost.

Access to The New Home Explorer ® Database
The New Home Explorer® was created in 1989 by the owner of Magellan® and a systems engineer at Eastman Kodak to provide prospective home buyers with a quick and easy database of new home developments accessible in the comfort of their home or office. A qualified Magellan® consultant working with The New Home Explorer® can reduce the search for a new home from months to minutes. Contact a Magellan® consultant to see if The New Home Explorer® is available in your area.

Representation of Client at Various Building Communities
Real estate has a certain protocol when it comes to who's working for whom. A Magellan® consultant acts as a buyer's broker, and we represent our clients with due diligence. There is also protocol in new construction. Whose buyer are you when you enter a new home community or model home unescorted by your own agent? Who is looking out for you? Do you know the right questions to ask? At Magellan®, a professionally trained consultant will register you before you visit the community. We know the right questions to ask on your behalf, and there are many that are critical to the decision-making process. Bottom line, we look out for YOU!

Evaluation of Builder(s) and Community(s)
Each builder should have a set of building specifications as part of his or her presentation material. This information is critical. It tells you, the client, exactly what you are going to get in your new home. The next step is identifying what is standard and what might be considered an "upgrade," and how each item affects the price of the home. At Magellan®, we carefully review builder specs and interpret the information for the client. We make recommendations as to where the client might want to upgrade a building material, and add or even omit certain items based on how important they are to meeting the client's goal.

Evaluation of Builder Pricing Bids
After presenting a particular plan to several builders for review and pricing, it is important to do what we at Magellan® call a "Comparative Building Analysis." This allows us the opportunity to carefully dissect what each builder is offering and at what price. In addition, we take other variables into consideration in the final pricing, such as location, size of community, time of build out, builder's reputation, the lot, amenities, etc. At Magellan®, consultants know the cost of construction and will question a builder or builder's representative if a price seems inflated to protect the interest of the client. The final analysis will give the client the best possible product for the best dollar.

Assistance with the Architectural Process
Many buyers visit the architect's office far too early in the building process which in many cases can cost them hundreds or thousands of dollars which cannot be recouped. At Magellan®, we work with buyers to truly identify the most efficient design for the dollars spent. We may make design recommendations to accommodate furniture placement or to enhance the home. We assist in helping buyers visualize the house and understand the blueprints.

Negotiation of the Client's Contract
As a buyer's broker, Magellan® consultants work for the buyer client. We know best how to negotiate for our clients and we know how to support the negotiation process.

Assistance with Selections
There are buyers who know exactly what they want and where to get it. There are also buyers who may need assistance when it comes to selecting cabinetry, fixtures, carpeting, etc. At Magellan®, our consultants are available to assist the client with selections to both expedite the process and make it an enjoyable one.

On-site Visits During Construction
To ensure quality and the timely completion of the home, a Magellan® consultant is available to periodically visit the client's new home while under construction.  There are always questions and concerns that come up during the building of a new home. At Magellan®, we act as a buffer between the client and the builder's team and ensure a successful and rewarding building experience. Clients feel more confident because they have someone to bounce their ideas and occasional fears off of as well as to support them through the entire process.

Consultation on Final Walk-through
To ensure that the client gets the home that they contracted for and to ensure that the quality of the home is also what was expected, a trained Magellan® consultant will accompany the client on a final walkthrough prior to closing. The consultant will document any items not yet complete, on back order or needing repair. If the work is substantial, a recommendation to delay closing or escrow monies may be made. Time frames for completion of all items will be discussed and typewritten punch list of all items requiring attention will be sent to closing.

Access to Magellan®'s Advisors
As a specialty real estate firm, Magellan® also recognizes the need to affiliate with other trained professionals with specialty services that support new construction, Magellan®'s initiatives and Magellan®'s clients. A well respected team of advisors is available to assist Magellan®'s clients in legal matters, financing, architecture, interior design and construction.