We started 2020 with big goals for Builder Designs’ 15th year. We planned to expand our service offerings, introduce new products and grow the team while continuing to serve our builder partners.

In some ways, we thrived. In others, we struggled. Much like you.

Luckily for all of us, the success of the homebuilding industry served as a welcome surprise driving record-high numbers in both revenue and builder confidence across the nation. It also brought important lessons in flexibility as the uncertainty forced a more creative approach to selling homes. 

Let’s take a look back at a few of the biggest things we learned this year.

Buyers are getting more independent

We feared early in the pandemic that buyer interest would drop dramatically and it did for a short while. However, it bounced back stronger than ever with a few new nuances.

First, our analytics expert, Brandon Barelmann, noticed that visitors on average are spending more time and visiting more pages on the website before contacting a builder. This is partially due to the reduced model home hours and open houses, but we predict it to become more of a norm than a trend. 

We also saw builders start to partner with online real estate companies offering self-guided tours like NterNow. This is an easy way to ensure that visits are safe and convenient for buyers and it frees up your staff too.

Several homebuilders also completed their first online home sales this year without ever meeting the buyer face-to-face.  

Buyers crave innovation

Remember when your staff scrambled to set up Zoom appointments with buyers and figure out Facebook Live to host tours of model homes? We predict that will be another big requirement for buyers moving forward. 

Whether they are shopping from across town or across the world, potential buyers want you to provide easy ways to shop and connect with a sales agent on their terms. This puts your website and social media front and center for the sales process and makes high-quality visuals more important than ever.

Within the home, buyers are looking for innovation too. The America at Home Study examined 3,001 consumers between 25 and 74 years old and found that more than 50 percent are looking for these three hygiene and wellness elements in a new home: germ-resistant countertops and flooring, greater technology and energy efficiency, and touch-free faucets, appliances and smart toilets. More than 30 percent were also looking for touch-less entry into the home. 

This is not really a surprise with the smart home market revenue forecast to reach a value of more than 141 billion U.S. dollars in 2023. However, it might light a fire under builders who have been holding off on adding these upgrades to their homes.

How do builders respond?

This is completely up to you and your company’s leadership. Mortgage rates are still low and sales numbers are high which means many builders have more bandwidth to adapt their product offerings.

The most important thing is to make sure you have your basics down. Know exactly what the buyers in your market want and how to show the value of your product against the competition. This is what will help you stay steady even when the sales slow down. 

Then think about where you want to go next. Many builders we have talked to are planning to expand into a new market or offer a new product line next year. Check back to our blog for advice on how to budget for 2021.

If you need an outside perspective, our team can help with an audit or a call to help analyze your traffic and the competition. Call Amber at (913) 393-3367.