Consumers are looking for security in their investments. Will it be efficient? Will it be convenient? Will it last? Will it be a good investment? Will it sell if they need it to? Will it satisfy the changing needs of a family? “Need” has become more important than “want” for many. If price is dictated by size then smaller may be better. If long term maintenance is more costly than efficiently built, then buying “energy conservative” construction may make more sense.
The high end buyer with their portfolios in chaos and information overload is also exercising more scrutiny in the home buying/building process. Bombarded by so many mixed signals, it is hard to hear or see that there is a pattern emerging.
To be on the cutting edge, your marketing team should:
1. Conduct consumer and buyer agent interviews, providing real time data regarding consumer needs and wants (not repeating what worked 5 years ago). Community and design trends will surface.
2. Have a contemporary understanding of the different cultures and generations whose homes your designs may suit. They will buy it if you will build it.
3. Introduce the consumer to you. When they buy your home, they buy you/your company. There is value in relationship.
4. Listen to and hear what will get a buyer to a closing table without compromising your signature design and style, projecting your image accurately and creating realistic expectations.
5. Premarket only those plans that have been evaluated to meet the needs of the targeted buyer based on the interviews and studies conducted. (Resurrecting or restructuring old plans will be scrutinized by the savvy consumer who will not pay for outdated designs.)
6. Establish a communication process (with its history easily referenced) for the
entire transaction and beyond.
7. Showcase your level of present and future service. Your marketing team often makes the first impression of service and quality for you. Make sure they are not just order takers but truly representative of your standards.
8. Promote your follow up programs. The wary consumer wants to know that you will be around in years to come; this speaks to your stability and solvency.
Whether you are a production/volume builder or a custom builder, the buyer has changed. They are informed. They are nervous about the economy. They want to drive their outcomes, which can affect your income if you are not paying
attention. Having less on the ground offers an opportunity for builders to recalculate and redesign. It is important to not lose your identity in this transition; the buyer may have needs and wants but they will seek the unique. Advertise what defines you; promote what makes you a secure purchase. Follow through with personal, attentive service from you and your team during and after the transaction.
Out of the potholes of yesterday will come the autobahn of tomorrow—limited access for only those willing to make critical changes in design and service, those willing to take new directions, an alternate route but not lose sight of their destination.
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www.PerfectionWholesale.com GREATER HOUSTON BUILDERS ASSOCIATION – BUILDING A BETTER FUTURE | HOUSTON BUILDER | AUGUST 2010 17
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