Gus De Ribeaux is the co-founder of Palmcorp Development Group in Miami.
Every week, we ask a real estate professional for their Short List, a collection of tips and recommendations on an essential topic in real estate. This week, we spoke with Gus De Ribeaux, co-founder of Palmcorp Development Group, who his best methods for developing great relationships with homebuilders.
4. Develop a rapport with the homebuilder and their staff – Developers know that agents have access to buyers and have their “ear to the ground” on the latest demands of clients, which is exactly what developers are looking for. Having a good relationship with a homebuilder can provide agents with benefits beyond just having products to sell to their clients. They can obtain information about upcoming projects that are not yet listed, which will give them a head start against others who have to wait until the project is officially marketed; they will be the first to be considered when the homebuilder is looking for an agent to become the listing agents for their inventory; and they can provide homebuilders with land acquisition opportunities for future projects.
The advantages homebuilders and agents can provide for each other lends itself to a mutually beneficial relationship that many agents don’t take advantage of. Develop a rapport by stopping by the homebuilder’s office periodically and dropping off a little something, whether it’s an article you read that might be of interest to them, or some information you saw in a magazine or news program, or a recent purchase or sale that you think may affect him. The fact that you are there trying to help the homebuilder’s business will show him that you are interested in his business improving just as much your own, and that will open doors for you to be more involved in the homebuilder’s projects.
3. Go to the homebuilder’s office and familiarize yourself with their materials – Along with developing a good relationship with the homebuilder, agents should familiarize themselves with the homebuilder’s sales contracts, policies and materials (selections and upgrades). Having that knowledge will increase the chances that any transaction involving a home built by the homebuilder will be smooth and pleasant. This will give the buyer a level of comfort that someone is on their side (but has knowledge of how the builder’s operation works), it gives the agent credibility, and that can possibly lead to referrals of future clients.
2. Become a source of information for the developer – Developers are always looking for land opportunities. Agents who align themselves with homebuilders can get an idea of what areas the homebuilder is looking in, what kind of projects they are looking to do, what type of homes they’re looking to build (single family, townhouse, condo, apartment) and they can look for opportunities for the homebuilder to acquire these parcels, which will bring them a commission and put them at the top of the list for obtaining the end sale listings.
1. Stay involved with the transaction throughout the homebuilding process – The sale doesn’t end at the time the contract is signed. Even though the homebuilder may have staff to handle selections, upgrades, questions, etc., the agent should stay involved, not only to show the homebuilder that they are committed through the entire process, (which will undoubtedly impress the homebuilder) but also to show the client that they are committed to staying with them, which may lead to referrals in the future.
Gus De Ribeaux co-founded Palmcorp Development Group in 2009. As the son of a developer and contractor, he was exposed to the world of real estate at an early age and always had an interest in pursuing it as a career. Wanting to combine his two passions, law and real estate, he attended law school at the University of Miami with an emphasis on real estate. As a real estate attorney, he has represented developers, homeowners, buyers and sellers, handling transactions that range from single-family purchases to commercial developments.