5 Tips for Selling New Construction Homes to Modern Buyers
We love sharing guest blogs and this one focuses on something out of our realm – home builders. After reading it, I’m sure you’ll agree that all of these tips are transferable to commercial and industrial construction companies.
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It’s no longer 1980. You can’t just build a house with curb appeal, put up a “for sale” sign, and expect results.
Those days are long gone.
Modern homebuyers bring new quirks to the table. They want unique, tech-equipped homes with exciting, family-friendly floor plans — and they definitely don’t want to overpay for them.
This mindset requires home marketers to re-evaluate their sales tactics and product positioning. With the summer sales rush in full swing, here are some tips for marketing a new home based on current consumer tastes:
- Focus on Affordability
Our current economy has created a market of cautious and smart shoppers. There will always be a niche market for high-end homes, but some marketers are overvaluing their new constructions and losing countless potential customers as a result. When a house is priced too high, it can take years for someone to take the plunge and buy it.
New homes should cost about 2.5 times the median household income of the market they’re in. Offering a great new home at an incredibly affordable price will really resonate with buyers.
- Be Consistent in Messaging
Don’t call a house “affordable” or “move-in ready” if you’re offering a bare-bones home that requires thousands of dollars in upgrades.
Instead, modern marketers need to consistently and accurately market and price their homes with no strings attached. It’s so easy to shop around these days that the quickest way to lose a customer is by misleading him.
- Always Be Accessible
Today’s consumers have nonstop access to unlimited information, tools, and resources. They can shop online 24/7, and they expect their home-buying experience to follow suit. Showings can no longer happen within limited hours, confined to three days a week.
Timing is everything in this industry, and it’s much easier to sell when the buyer is interested right here, right now.
- Emphasize Tech
One of the biggest differences between modern and vintage floor plans is an emphasis on technology. Every person living in the home is going to want access to several electrical outlets for their multiple electronic devices. I call these tech-friendly, outlet-filled rooms “genius stations.”
Marketers really need to emphasize the tech-friendliness of their homes. Make sure the buyer is more than aware of all the plugs, bells, and whistles.
- Put Family First
Nowadays, new homes are most typically purchased by families seeking a great place to raise their kids. During the walkthrough, be sure to stress the idea that buying this home will complete their family dynamic.
The American Dream lives on, and a new construction home is definitely part of it.
We’re living in a world where people want a home that fulfills their family dream on a dime. If you can’t appeal to these modernized desires, you’ll certainly miss out on the sale.
Update your marketing techniques to show how well you understand what the modern buyer wants.
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A speaker for home builders and one of Crain’s Detroit Business’ “Top 20 in Their 20s,” CEO Mike Kalis has led Marketplace Homes to being named American Business Awards’ Real Estate Company of the Year, one of Michigan Governor Rick Snyder’s “50 Companies to Watch,” and Inc.’s 189th fastest-growing company in 2012.