Industry NewsNews Brief

Builders take deep dive into buyers’ wants, needs

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

In my last column I said we would look at the psychographic results of a comprehensive market study by BHI Inc., a consortium of 32 of the largest production home builders in America. You might see yourself in this study and want to move up, out, or down. Or recognize your next prospects as being in one of three market segments and make a sale you may have missed. These are the segments and their impact on residential sales across America. New segment: These folks say they want a new home and will not consider a resale (19 percent). Comment: You don't meet these, because you are not marketing to them. Indifferent segment: Will look at both new and resale (35 percent). Comment: You may meet these, but if you don't qualify them for new homes, you stand a good chance of not closing the sale, or them saying ‘we decided to wait." Existing segment: Insists on buying an existing home, and only an existing home (46 percent). Comment: This is your primary market...