Question to Homebuilders and Developers:
What thoughts come to mind when you think of a Homeowner's Assocation meeting? Do you think of axiety, anger, tomatoes, frustration, friction and burning torches? Probably. I've had those thoughts, too.
Last Thursday, I entered such a meeting.
But this one had the makings of being worse. I was about to inform the homeowners that the construction of the clubhouse and pool would be delayed indefinitely. Not permanently, mind you, but for the foreseable future. Financing of the clubhouse and pool had recently by de-funded by my construction lender leaving me with no choice but to postpone the December 2009 opening.
Not surprising, tensions rose; emotions erupted. Profanity ensued.
After a period of civil discussion (missing from our culture in every day America) something amazing happened. I mean AMAZING. A handful of homeowners offered to loan the money to pay for the clubhouse. Unbelievable.
Details haven't been worked out and I'm sure there will be a few. One thing is for sure: My business has a new Joint Venture. I couldn't be happier.
In these (economic) times, can you think of anyone you'd rather partner with than your customers?
Showing posts with label new homes. Show all posts
Showing posts with label new homes. Show all posts
Tuesday, September 29, 2009
Tuesday, August 25, 2009
Are you a Kategadi
Last night, I (thought) I had the greatest idea. I was watching an episode of Property Virgins on HGTV and..............Wait a minute. I should probably clarify why I was watching HGTV at 9:00 on a Monday evening.
I recently attended a Jeff Shore sales training workshop (twitter.com/jeffshore) in Charlotte and he recommended that we watch HGTV (especially House Hunters) to see how real prospective home buyers search for, (think about) and purchase property. Hint: everybody compromises.
Anway, I saw the most awesome way to market your home. Take the market value of your home, slash the price 25% (and reduce that number by $100), and advertise the lower price. Instruct all prospective buyers they have one week to present any and all offers. Seems catchy, doesn't it? For example, your home's market value is $380,000. You decide to list it for $284,900. Seems like it could be the deal of a lifetime, right?
Hopefully, the pool of prospective buyers know that the $284,900 asking price will likely be met and exceeded since it is significantly below market value. Consequently, those "bidding" on the home during the one-week silent auction period will get caught up in the frenzy (because people assume other prospective buyers are doing the same). Assuming the home you are marketing isn't average, you might dupe the marketplace into paying more for your home than if you had just listed it for $380,000.
You've created urgency.
Those of us in home sales know how hard it is to create urgency (in today's market). It's as hard as shooting a 59 on a par-72.
But are you willing to commit yourself (and your company, and your employees, and your reputation) to schemes; gimmicks (e.g., Cash for Clunkers, $8,000 tax credit); distrustful techniques? Are you a Kategadi (Greek slang for scam artist)?
Or are you the consummate professional?
I recently attended a Jeff Shore sales training workshop (twitter.com/jeffshore) in Charlotte and he recommended that we watch HGTV (especially House Hunters) to see how real prospective home buyers search for, (think about) and purchase property. Hint: everybody compromises.
Anway, I saw the most awesome way to market your home. Take the market value of your home, slash the price 25% (and reduce that number by $100), and advertise the lower price. Instruct all prospective buyers they have one week to present any and all offers. Seems catchy, doesn't it? For example, your home's market value is $380,000. You decide to list it for $284,900. Seems like it could be the deal of a lifetime, right?
Hopefully, the pool of prospective buyers know that the $284,900 asking price will likely be met and exceeded since it is significantly below market value. Consequently, those "bidding" on the home during the one-week silent auction period will get caught up in the frenzy (because people assume other prospective buyers are doing the same). Assuming the home you are marketing isn't average, you might dupe the marketplace into paying more for your home than if you had just listed it for $380,000.
You've created urgency.
Those of us in home sales know how hard it is to create urgency (in today's market). It's as hard as shooting a 59 on a par-72.
But are you willing to commit yourself (and your company, and your employees, and your reputation) to schemes; gimmicks (e.g., Cash for Clunkers, $8,000 tax credit); distrustful techniques? Are you a Kategadi (Greek slang for scam artist)?
Or are you the consummate professional?
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