By John Schleimer, Market Perspectives
As the new home market continues to show signs of reemergence, many entrepreneur builders who went to the sidelines when the housing recession started in earnest in 2007 are now attempting to re-establish their companies and re-enter their respective markets.
However, there are some daunting challenges facing these intrepid entrepreneurs – from finding the necessary financing to re-start their company to finding available and reasonably priced building sites or lots to staffing up with competent people. From my PCBC workshop called “Strategies for Getting Back in the Game” on June 5th, I want to share some key product and marketing strategies that will be covered and must not be overlooked as the builders come out of “hibernation.”
Know Your “Enemy” - Builders re-entering their markets need to have a comprehensive competitor evaluation checklist, as well as an understanding of the competition’s marketing strategy and buyer profile.
Is Your Product Design Quality Dated? - Before a builder opens the door again, there needs to be a serious assessment of the design quality of the product intended to be offered – especially as it compares to direct competitors. Even if a builder has a price advantage over the competition, the existence of average or outdated elevations and floor plans will not achieve the sales and profitability desired.
Effectively Generating More Qualified Traffic - If you do not know what a QR code is or how important Google recognition and posting is, you had better learn fast. Double trucks in newspapers and slick paper publications have been replaced by YouTube, Twitter and Facebook.
It’s Not Your Old Sales Team - The final piece of the puzzle for re-entering the market again involves your sales team. Just like what the internet and social media have done for new home marketing, having a well trained, professional and motivated sales team is vital. Whether you are in-house or out-of-house with your sales program, do not allow incompetent sales people to waste all the time and money you have spent doing the things necessary to ensure that you are correctly re-entering the new home arena.
PCBC is only a few short weeks away and I look forward to seeing you there. Please take a moment to learn a bit more about this presentation taking place on June 5 from 9:45 – Noon. Click HERE for registration details.