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Old 12-15-2007, 05:35 PM
 
Location: Austin
153 posts, read 618,062 times
Reputation: 31

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I am a new home sales rep in a closing out community. I am having very little traffic compared to some of my surrounding communities. I think, maybe because they have so many more lots to choose from. My builder is one of the upper end builders in my neighborhood.

I am looking for suggestions on how to generate more, qualified traffic from prospects. I am also interested in how to network with more agents in my area (without spending a lot of money and time feeding them...my boss has not been the happiest with our results of luncheons).

Any suggestions are greatly appreciated!
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Old 12-15-2007, 05:44 PM
 
Location: Wouldn't you like to know?
9,116 posts, read 17,642,348 times
Reputation: 3722
Honestly, no gimmicks will work (and that's all they are are gimmicks).

Its extremely simple. You have to lower the price if you want traffic

Take a look around the country at the Lennar's and Toll's of the world and see what happened when they advertised their "sale of the century"...they dropped the price dramatically.

Its not rocket science in today's market. good luck
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Old 12-15-2007, 07:05 PM
 
Location: Palm Coast, Fl
2,249 posts, read 8,870,207 times
Reputation: 1009
I've been to those luncheons. I have a broker who holds 'office meetings' at the builders expense at those luncheons. They do NO good unless you are telling us about a discount and/or a bonus. The bonus works because then I know I can use that to lower your price and can advertise it on my own at a discounted price or buyer's rebate. The lowering of the price works because it will attract more buyers. Forget the luncheons and just email the specials to all of the agents in the associations surrounding you.
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Old 12-15-2007, 07:21 PM
 
Location: Houston, Texas
10,447 posts, read 49,508,076 times
Reputation: 10614
Nothing works. The market is stone dead !

You can not pull home buyers out of a hat. There just are no buyers. Hold on tight because this is going to be a hell of a ride.
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Old 12-15-2007, 11:43 PM
 
Location: Columbia, SC
10,886 posts, read 21,841,699 times
Reputation: 10475
You still need to get word out. The best marketing is on the 'net, but for new construction local papers and billboards/signs have been effective. Once you get the buyer there, it's price/ if they feel they are getting a good buy.
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Old 12-16-2007, 11:46 AM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,218,225 times
Reputation: 6467
Quote:
Originally Posted by desertsun41 View Post
Nothing works. The market is stone dead !

You can not pull home buyers out of a hat. There just are no buyers. Hold on tight because this is going to be a hell of a ride.
Another one-trick-pony. The agents that are on this forum from LV seem to be doing OK, perhaps some facts instead of some glib doom and gloom would enlighten us and you.
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Old 12-16-2007, 01:28 PM
 
Location: Albany, OR
540 posts, read 2,166,089 times
Reputation: 359
Assuming that there are indeed buyers out there (based on your comments about traffic to surrounding neighborhoods); you would have to start with the question of why are they going THERE vice to yours?

You obviously can't compete on "price" from your comments, but can you compete on VALUE? In marketing homes you are not marketing a commodity, you are marketing a lifestyle choice. If you want to drive traffic to your neighborhood you need to find out what your target buyers value and use that as the focus of your advertising. Sorry that I can't give you specifics here, I don't know your market or your product.

I'm speaking only from a marketing background, not specifically real estate. The builder that I work with has a competitive advantage in 2 areas: lot size and customer service reputation that other local builders don't quite equal. Secondarily, one of our neighborhoods is in an area with the lowest taxes in the county. The marketing pieces are focused on "more room for your toys...and with low taxes, you can afford more home for the money, or have more money left over for more toys!"

Our buyers tend to be empty nesters who are downsizing. They value the room for their RV, and the quiet neighborhood. Many are also on fixed (or near fixed) incomes so the low taxes has appeal.

Ultimately, if your target buyers value choices (you mentioned the other builder has "more to choose from"), you should probably find a way to give them choices.

As far as building relationships with the other agents, if you are offering a fair cooperative commission and not inadvertently dis-incentivizing them to come to your neighborhood...(one builder in our area won't pay a commission to a buyer's agent if they don't come with their client to every visit...if they stop out initially without you, the fight is on...why would I ever recommend them to a client?)

Try having a luncheon...but frame it with an orientation about your product. Help the local agents know and understand what makes your builder unique, and how they can more effectively demonstrate your homes for their clients. We ALL want to be able to show a house well so that the clients will want to make the purchase decision...give them a hand so that they aren't just saying "and here is the living room..."

Check out the National Association of Home Builders Certified New Home Sales Professional Course...it was worth the money for me!

Good luck.
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Old 12-16-2007, 02:34 PM
 
Location: Austin
153 posts, read 618,062 times
Reputation: 31
Thank you for the help so far...keep `em coming

DavePautsch-some great points! I have been hearing a lot of focusing on the value...which I am still working on learning more about what exactly that means and what values the customers will care about. I'm going to check out that course you recommended as well...thanks!

One thing I can't do is lower the base price. I do have more flexibility with incentives and how they are used though, but if I'm focussing on value, I'm not sure if I should be putting that out there up front.

Also, I'm in Austin, TX, so the market is not as dead here as the rest of the nation, just a little slower than it has been.
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Old 12-16-2007, 02:55 PM
 
Location: Charlotte, NC
422 posts, read 1,360,152 times
Reputation: 242
I am a New Home Sales Rep too... and we are all in the same boat.

First of all (and no offense to you Realtors out there), but I wouldn't waste my time doing Broker outreach... even though its part of my job, and Management requires, I dont waste too much energy. Every person I have sold to this year who happened to have a Realtor, came to see me, on their own, and when they decided to buy, they called their Realtor to come in for the contract process. Realtors never bring customers to me.

Follow up, follow up, follow up. They need to remember you. Im not saying harrass anyone, but I always follow up with a thank you card, post cards etc... and I will call and follow up to.

I also do a crazy amount of CMA's. I know my competition better then they know themselves.

Stay positive! Negative energy sucks the life out of people.

Ask for the sale. So many agents are afraid to ask. I always ask for the sale, even if I know that its not going to happen, I ask. I ask because it gives me so much insight as to what is going on with buyers etc... and then usually the truth comes out to why they are saying no.

Price is the biggest factor, no matter what. If you are the highest price homes in your subdivision, then there is your problem...
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Old 12-17-2007, 01:44 PM
 
Location: Maryland - Howard County
195 posts, read 741,957 times
Reputation: 60
I am a Realtor and an on-site sales associate for a New 55+ community; one of the many popping up in our area. Our biggest hurdle has been overcoming our competition's pricing, as we too are a higher end product. Unlike our competition, we are not lowering our base pricing, but we can offer incentives on our options. This is where VALUE OVER PRICING comes into play. This is what we emphasize. Our community has the better product, better lots, the better LOCATION LOCATION LOCATION - THE BETTER VALUE. We protect the investment by NOT lowering our base pricing. If Mr. and Mrs. Smith purchase for 500K, they can be assured that in a month, no one will buy the same product for much lower in our community - a practice that has become quite common. Tell your Buyers that in your community their investment is protected. Better value comes better RESALE. One day this buyer is going to have to sell. Try your best to get this point across to them, if they listen now they'll buy, if they don't....they'll remember in 5, 10 years when they're going to sell and no one is buying. HIGHLIGHT all of the benefits of your community.

Someone mentioned about finding out why you are losing to competition (most likely will be pricing)...but try and find that out BEFORE hand so that you can still be in the running. If they've already decided on something else, then it's too late. Follow up is very important. With follow up, you will know what these buyers are looking for BEFORE they make their end move.
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