“Rising prices” might sound like a barrier when speaking to potential homeowners, but this can in fact be used to your advantage when communicated the right way. We understand the importance of truth and transparency in marketing, and always recommend that builders address pricing by being clear, direct and honest.
The truth is that the cost of lumber and other materials have gone up, and with that, most building companies need to raise prices in order to maintain acceptable profit margins. It is ok to be real with buyers and educate them on the rising lumber prices that have resulted in a price increase. They appreciate the information and honesty, and ultimately, when done correctly, you are able to build trust from the start.
There are other ways to make sure you are driving the conversation on rising home prices.
- Perception of Value
Show buyers that they are certainly getting the best for their money. An effective way to communicate to buyers is Model Memory Points — displays within a model home that highlight the features that buyers value most. This marketing tool brings to life what hidden (or not so hidden) features are options in your homes, in addition to what differentiates your homes from resale and other builders.
You’ll find that buyers will naturally be drawn to these eye-catching displays, and will ask questions that lead to further conversation about what makes your homes truly stand out.
- Educate the Consumer
Part of effective marketing is empowering the consumer. If the buyer is given the necessary information, they will feel more confident and in control of their decision when making their purchase. Think about the high-quality features of your homes and your building process that may seem obvious to you, but are worth calling out to your buyer. How can you better demonstrate what sets you apart? Are you homes energy efficient? Do you have a variety of choices and opportunities to customize? Do you have an amazing warranty program that offers peace of mind? Don’t be afraid to educate your buyers as to why your homes are priced correctly.
- Create Urgency
A campaign announcing an upcoming price increase can work to your advantage if you urge buyers to take advantage of your CURRENT pricing. Focusing on the money they will be saving by buying NOW will create a positive sense of urgency. It also shows your audience that you have their best interest in mind.
Do you need some help communicating the value of your homes? Reach out; we would love to help tell your story!