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Nov 05

Who is making sales in today's market and how are they doing it?

Sep 17

How did it become a buyer's market all of the sudden and what happened to the 80/20 loans?

Aug 07

Let's face it, it is time to differentiate ourselves, people...  Craftsman homes are "cute" and when painted well, they can look really nice.  The problem is that you can't throw a rock without hitting one that looks just like the one that you are standing in, or drive down the street without finding a subdivision that looks just like the one you just came from.  Yes, I said "Subdivision", you may be thinking, "IF this woman knew the first thing about new home sales,  she wouldn't have said "subdivision", she would have said "community" or "neighborhood", this is true and also advice that I have, myself, given.  The problem is that there are not many "communities" or "neighborhoods" offering new homes in the Treasure Valley, and therein lies the problem. 

There are still buyers out there, both home buyers and builders (Read: lot buyers).  These buyers have learned a lot over the last few "HOT" years, and they are now more than just buyers, they are Discriminating buyers, looking to get the most for their money.  AHHH, you are probably thinking "incentive", well maybe...if you are trying to peddle the same thing as everyone of your competitors...but more for their money can also mean something different, something that feels fresh, and new.  Something "personal" that makes them look and feel good, like they have made a good investment!

I will use the case of Louis Vuitton.  Ladies, you will fully get this, men: call the wife or girlfriend.  A Louis Vuitton bag was the "It" thing to have.  If you had it, you were made, and if you didn't, you wanted to.  They were expensive and prestigious, and could be hard to get for the same reasons.  Enter the knock off...it worked!  Everyone had them and some of them looked good, the problem is that the people with REAL ones, didn't enjoy the status, or elite position of having them or, worse yet, people thought they had the "Cheap, knockoff version".  On to newer, fresher, more elite things...Ferragamo anyone?

The moral of the story is, generic, run of the mill, and been there done that are out.  It is time to freshen up and offer something new and exciting!  Here's the plan:

1) Finalize your exit plan...We will call this Mission Get these houses off of my books.

         In this step,  you will deal with top notch industry experts to help you get rid of your old, stagnant inventory, using desperate measures.

2) Who do you want to be?  Decide what you are going build, where, and for who?

          You will need market research to determine this.  It is great to build stuff you like, greater to build stuff that will sell.

 

We'd love to help you.  info@O2marketinggroup.com.


Jul 10

Why is it that some people are selling homes while others are not?  What is it that they are doing?  These are questions that you need to have the answer to. 

To sell in todays market, it is imperative that you check your ego.  Thats right, there are ego builders out there and you might be one of them.  It is fine to build what you like, or build what you have always built, but you will get the same results that you are getting today. 

You need to know the market, from a macro level to the micro level.  Who is moving here? Whos moving that is already here? Why?  What types of family situations do they have?  What age ranges do they cover? What are the moving from?  What is their income and housing affordability?  What amenities are they willing to pay for?  Which ones do they expect as standard?  What types of communities appeal to them?  What types of house: size, floorplan, finish materials, etc. are they looking to buy? 

The key to being successful is to look for emerging and underserved markets.  We have represented many communities that, prior to our services being retained, were targeted to the empty nester only to find that they appealed to young singles, couples, and small families.  Finding this out, with a community under way, costs time and moneysomething many of us are short on today.  Different marketing approaches are needed: colors, logos, wording (Copy), and media buying may all need to be redone.  I have even seen a builder have to tear down the front of all of their models in a particular community and re-elevate them as they had missed the mark drastically on who their buyers were and therefore what they were looking for.  After the renovations, many sales were made, but how many were in essence free homes after the lengthy and expensive process of demolishing and rebuilding the models?

The truth is, market research is critical, and best if done earlyvery early.  In a perfect scenario, a developer would begin with market research before buying the dirt.  It is critical to get the facts, figures, and advice from market professionals as to the highest and best use of a piece of land, up front to make sure that the project pencils.  From here, a marketing plan needs to be developed and executed, that includes at least the following:

1)       Which groups represent our target demographics?

2)       Why are they going to buy here?

3)       How do we attract them?

4)       How do our community and product offerings meet their needs?

5)       What will the follow up process be?

6)       What will our absorption be on all product lines?  Is it realistic?

7)       Will we need to incentivize?  Why?  How much?

8)       What will our standard features be?

9)       What will our options program consist of?

The thing is, these ideas are only as good as the paper they are written on, and since this is a blog, there is no paper!  Worthless, absolutely worthless, unless there is follow up and follow through. As you have seen in our previous blogs, these are the critical elements.  How do you know that you are hitting the mark, without someone to see and talk to these people and report on feedback?  How do you know why they bought from your competitor without the same?  Small adjustments can, and should, be made to your product and marketing plans along the way, but they must be done strategically to increase traffic, sales, and customer satisfaction.  You cannot address any of these items without follow up.

For more information contact O2 Marketing Group.  info@o2marketinggroup.com


Jun 25

How to get the representation that you pay for.

Jun 21

Contrary to the justified belief of 2005 and 2006, new homes do not sell themselves.

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