Post pandemic, 16 months since the nationwide lockdowns, the Colorado market has seen unprecedented growth along with record residential resale and new construction sales activity.
Resale homes have seen as high as a 20% increase over list prices. New construction sales increases are not that far behind. Some homeowners have chosen to stay in their homes and undergo a remodel or renovation. For others, now is the perfect time to transition into a new home. As a result, some new-home builders have as many as 100 buyers in their queue to purchase and close on homes over the next 12 months.
Pandemic buying has eased, Americans have begun receiving their vaccines, companies are making decisions on who will or will not be returning to an office, and the state is back in full swing. What now?
One of the key lessons over the last 16 to 18 months is how resilient, creative and flexible we have had to become. For some, the opportunity to work remotely has changed one’s life in ways that cannot be measured financially. For others, the prospect of returning to an office is a welcome transition.
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Those builders and developers that have continued to embrace technology to engage with prospects and current customers will find these to be key communication tools as presold homes are completed for delivery. Online portals are one example. Buildertrend is a tool that our builder partners use that has proven to be an effective project management tool and now a customer communication tool. Technologies like this provide useful and timely updates to one’s new home throughout the build process.
Another value-add to these types of services is that in some cases, these online portals reduce inbound and outbound calls with current customers to address simple project questions. Some builders have found that the integration of these tools is allowing their onsite salespeople to be more present with prospects who are visiting and touring their model homes.
For home builders, the introduction, use and enhancement of virtual staging, floor plans, design elements, and client services technologies are going to prove to be more effective over time—not only as a marketing tool, but as a customer satisfaction and problem-solving platform.
Michael Beninati is managing partner and owner of Windermere Metro Denver Real Estate. Windermere’s Builder Solutions program provides professional marketing, sales and operational support to builders and developers through all stages of new home sales. He can be reached at [email protected]