Industry News

Consumers help home builders reduce risk

Research aims to improve floor plans, understand target buyers

The ROI Producing Real Estate Event of the Summer
Reach top decision-makers at Inman Connect

The remainder of the decade will bring dramatic changes to the home-building landscape, particularly as it relates to consumer research. Whereas the prior generation of home builders made decisions based on good instincts, the current generation of leadership prefers a combination of good instincts and independent verification of the facts. The current generation is helped by the fact that there is so much more data available to analyze than before. The world-class consumer research processes will be a five-step process that will look something like this: The most successful builders will make ongoing consumer research part of their business. One or more people will be devoted full-time to research. The research conducted will be focused on improving future, unidentified communities as much as it will be to support floor-plan design and other decisions at current communities. Almost all research will be reused and will serve multiple purposes. These internal company researchers will ...