Housing has been going gangbusters for the past several years, with record breaking home price growth and record low inventory. A couple months ago, that started to shift and we are seeing the market taking a pause. Buyers are still out there, and our open houses are still busy with motivated buyers. However, with more inventory on the market and prices dipping a bit, buyers are taking more time to make their decision.
What does that mean for a real estate marketing firm? It means we get back to basics: product, price and promotion.
As with each time sales begin to slow, and buyers are taking more time, we buckle down on real estate marketing:
- Can buyers find our locations via signage and directions?
- Are our real estate communities showing well? We work with our builder to make sure the sites are as clean and easy to show as possible during construction.
- Are the model homes targeted correctly, and are they appealing?
- Are the home features at a proper level to meet buyer demand?
- Is our sales team engaged and coached? Would they pass a secret shopper test?
- Are the homes priced right for today’s market and concession demands?
- Do we have the right tools – including photos, videos, signage and marketing handouts – to attract the right buyer traffic and close the deal?
- For upcoming communities, are we building product that our builder can sell in a changing market?
The Matrix team has been together since the early aughts, so we have weathered many up and down markets, including the dot com uptick and bust, the housing bubble and the great recession and recovery. With experience and perseverance, we will weather today’s market.
Want to chat about today’s market and what it means for your new home sales? Give Chaun Mackey a call, 206.650.9000 or email, firstname.lastname@example.org.