Wray Of Light: Here's How To Keep Pace As Headwinds Stiffen

Here's the bad news: More than 80% of consumers believe it's a bad time to buy a home, according to the latest Fannie Mae Home Purchase Sentiment Index. The good news? Builders and developers who focus on strategies to boost consumer confidence have a significant competitive opportunity to make sales in this market.

Let’s explore some marketing strategies that can help:

Lead With Empathy

First, seek to understand the person who wants to buy a home. Despite concerns about interest rates, pricing, their capacity to afford to purchase, and fearing this is overall a bad time to buy, that person is still shopping. The better you can understand what they’re grappling with, and what they care about, the more effective you can be in becoming their trusted partner in making their move.

Evaluate Digital First

Nearly every homebuyer begins their journey online. Your digital presence must be impeccable, attention-getting, easy to navigate, and consistent across all platforms, but, most importantly, it needs to earn trust.

Social Media: Capture their attention during the early phase of their shopping with relevant, strategically crafted social content that's helpful, reassuring, and transparent about the homebuying process. But don’t stop there—skilled community management introduces people to the relationship they can expect with your brand. Be sure it reflects your values and service commitment or you’ll lose buyers at this step.
Content Strategy: Eye-catching imagery and high-impact copy, along with a wealth of useful and easy-to-access resources, will keep them engaged on your website when they’re in the shopping mindset. Aim to increase time onsite over the next three to six months.

Connect With Storytelling

An emotional connection moves people to action and keeps them motivated through waning confidence or doubt. In your content, marketing collateral, and conversations, inspire people to begin crafting stories for themselves of living the life they want to live in your homes and communities.

When your brand consistently shares a lifestyle story that resonates with the people who will appreciate your offering, you’re ahead of the brands that beat the “Hurry, it’s the right time to buy” drum. Yes, the numbers need to work, but you're far more likely to lose them if the connection isn't there, so find the common ground.

Embrace Transparency

Authenticity is crucial for today’s homebuyers–and crucial for builders who want to earn their business. The more transparent the better, especially around the biggest pain points. Offer information and resources through workshops and webinars with a goal of converting attendees to sales appointments.

Cost Calculator: Offer an interactive cost calculator on your website to break down home prices, and connect buyers to a mortgage calculator through your preferred lender.
Educational Opportunities: Host workshops or webinars on topics like "What You Really Need to Know About Today’s New-Home Buying Costs.”
Partner Transparency: Launch a "Meet Our Partners" campaign to showcase your partners, including lenders, architects, and design professionals.

Demonstrate Value

Highlight the potential long-term value and stability of new homeownership, as well as being a resident in your community. Doing this effectively may mean reduced time from first contact to contract signing.

Comparison Tools: Develop tools showing the cost of renting vs. buying over time, or the benefits of buying new over resale.
Energy Efficiencies: Underscore the lowered overall cost of ownership when energy-efficient features and potential utility savings are factored in.
Financial Consultations: Partner with financial advisers to offer free consultations.
Leverage Partnerships: Negotiate with local businesses to provide your residents with savings on memberships, goods, or services.

Identify Micro Influencers

Leverage trusted voices to amplify your message. Track the data and aim for an increase in influencer-driven leads to your pipeline.

Real Estate Influencers: Collaborate with real estate agents for authentic reviews and tours, perhaps offering them sneak preview prioritization.
Home Design Influencers: Showcase customization options, how to maximize small spaces, kids’ rooms design, and other ideas tied to your plans.
Financial Influencers: Discuss the benefits of new construction, tips for saving for a down payment, how to organize home finances, etc.
Small Businesses: Incorporate locally visible restaurateurs, musicians, and other resources for events and expand your reach to their audiences as well.

Produce Meaningful Testimonials

Leverage the power of social proof by sharing positive experiences from satisfied homeowners.

Video Testimonials: Create short videos featuring homeowners sharing their positive experiences and the benefits of their new homes.
Online Reviews: Encourage satisfied customers to leave reviews on platforms like Google, Yelp, and social media.

While fewer discretionary buyers are in the market right now for various confidence-draining reasons, life changes and growth mindsets still motivate a core cohort of people to move. Builders and developers who openly address and allay key concerns will earn buyer trust, restore confidence, and win sales.