Industry NewsNews Brief

Don’t let buyers shop new homes without you

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

If you have nothing but resales on your showing schedule, you might want to add a stop by a new homes sales office, just in case. I have the proof. According to a recent market study commissioned by BHI Inc., homebuyers can be divided into three groups: those who insist on a resale; those who insist on a new home; and those who are indifferent -- those who will buy a resale or a new home. Our qualifying approach to this "indifferent" segment must be anything but indifferent. From our perspective, the indifferent prospect might be the one who, after spending weeks with you looking at resales, decided to wait -- then shops new homes without you. Or, he buys a resale and then cancels. BHI, a consortium of 32 of the largest production homebuilders in America, recently commissioned a marketing study to determine consumer preferences regarding new homes versus existing homes. In active new-home markets, sales of new homes represent 12 to 15 percent of all residential sale...