It’s the Hottest Real Estate Market Ever
While some real estate developers have the dilemma of not being able to build quickly enough to keep up with buyer demand, others may struggle with the lack of land parcels for their next projects. Developers, private communities, resort communities, and country club community leadership are seeing homes selling at record-breaking highs. In a year where you don’t need to spend as much of your real estate marketing dollars on lead generation, it is ideal timing to take your brand to the next level. By laying the foundation now to attract the right target audience, home builders and development sales leadership will be set up to succeed at a time where rising prices may impact momentum in the near future.
Consistent Marketing Matters
Private Communities Registry research revealed that 84% of homebuyers said “within 2 years” when asked how soon they planned to buy. Adults between 55 and 64 years old are just at the beginning stages of their searches for a maintenance-free, active community that aligns with their plans for retirement living. What this means is they are looking, browsing, and taking their time right now before they pull the trigger in the future.
Laurie Andrews, Cotton & Company president says, “Regardless, of how well the real estate market is trending, developers can never have too many leads. With three decades of real estate marketing experience behind us, we have learned that markets rise and fall, and homebuyers can take as long as three years to move and/or purchase a home.” All leads are extremely valuable to builders and developers especially with market conditions changing so quickly. Leads generated that doesn’t evolve into present-day buyers may be ready to move forward with buying when we transition into the next cycle.
Keep Your Marketing Fresh and Innovative
Marketing trends, information, and details are constantly evolving. With more homebuyers researching their options from remote locations, the timing is right to focus on your marketing presentation to redirect energy where it will have the most impact. Without overspending, marketing leaders can repurpose some of the marketing dollars initially designated for lead generation to put towards image-building channels such as video presentations, 3D tours, SEO, ADA compliance, and establishing a stronger social media and digital marketing presence. Creating a new lifestyle brochure, a lifestyle video or photoshoot, 3D tours, updating sales tools such as property site maps or even improving the website to make it ADA compliant, SEO rich, or more user friendly – are all ways to bring your brand to a higher level of sophistication with consumers and improve the user experience.
Laurie Andrews, Cotton & suggests, “Take a fresh look at your brand and how you’re presenting your community through your web presence. Psychological changes happen in your market. Review your audiences based on current market conditions and then pivot your strategies towards communicating more effectively and visually to those specific target audience members.”
The Real Estate Marketing Solution
Cotton & Company CEO, Stephann Cotton remarks that “Nobody has a crystal ball of what’s to come or how long this hot streak is going to last. Knowing this, it is important for builders, developers, and private communities to keep their marketing efforts steady and capitalize on the strength of the market with new opportunities well into the future.” Rising prices will create some pressure on sales momentum, so developers need to continue to market keeping their end goals in sight. Maximizing the best possible return on investment for home builders requires sophisticated multi-channel marketing plans to create higher perceived home values.
Cotton & Company has assisted developers, builders, private communities, marinas, and resort communities with marketing strategies for the past three decades. Whether it’s an upturn or a downturn in the market and based on each community’s independent needs, Cotton & Company’s team of real estate advertising specialists are here to help strategically market in the most cost-effective way. Visit CottonCo.com to learn more about how they can offer your team next-level marketing assistance.