The market is ripe for custom home builders to identify their customers and give them the product they want. The housing market is in a period of historically low interest rates, creating even more buyers. Home sales unexpectedly rose in September 2016 and most of the year as a whole.
Home builders have significantly more tools to get the right information in front of the right audience. Advertisements fill Facebook and Twitter showcasing low interest rate opportunities, luxurious amenities within communities, and virtual home tours, but digital customization tools for buyers of new homes are few and far between – especially if you consider the growing demand.
In real estate, buyers are pretty predictable in their questions before building a home. They want to know how much they have to put down on a home and the estimated closing costs. They care about the community and shared amenities. And, they care about the fixtures and all of the little details. Whether a buyer chooses a home in your community or a different one, closing the deal is all in those details. As a home developer, you invest lots of resources into building the American dream, so first impressions are key, all the way down to the details.
Home buyers have different preferences. It always affects what they buy and how they view your community. Whether you’re a custom or semi-custom home builder, you can take advantage of digital tools to personalize the shopping experience for your buyers.
If you’re selling a community of new homes, buyers don’t want to make changes after they move in. It could drastically affect their overall budget. It’s important to match the right model with the right buyer. The dream home has personal finishes and is made to fit for the buyer. Since you can’t read buyers’ minds, you have to capture their preferences earlier in the process.
If you’re paying for digital advertising, spending money on your website, and capturing your potential buyer’s information, you’re just scratching the surface. Chances are that your successful competitors are already doing the same. Don’t just keep pace.
Consider how you can capture potential buyers’ preferences earlier in the process. Through platforms like Pinterest and Houzz, buyers document their style tastes and their favorite amenities. Users also enthusiastically connect these accounts with other accounts if it means a more personalized experience. Imagine how excited buyers would be to have their design tastes front and center when they start customizing their new home. Just like how seeing a customized car can help sway an auto buyer, seeing a custom home in a buyer’s preferred style can go a long way.
An investment in integrating, collecting, and analyzing the right data about your buyers gives you the competitive advantage. Depending on the demographic and the price point, there are several ways to get to know your customer and present the floor plan, fixtures, and community right for them. All it takes is the right technology to put the pieces together.
Luxury home builder Toll Brothers has created an online experience for anyone to review their floor plans, customize them, and start designing their dream home. They get the competitive advantage of seeing which potential clients are interested in what designs and features. And, they have a clear marketing effort that pushes clients to designyourownhome.com. Their URL isn’t so bad either.
Are you a home builder who wants to customize the home buying experience? Let us know.