WAV Group saw this news release come across the wire today. What we would like to see is a much stronger collaboration between home builders and REALTOR organizations.
Just about every area in the country is low on inventory right now. Why not partner with homebuilders to offer up their inventory. The industry can work with the homebuilders to be sure that REALTORS are getting adequately compensated for the work they do with builders. Associations can also provide training to agents to teach them how to work effectively and professionally with homebuilders. Homebuilders have been forced to go it alone to encourage consumers to buy new homes because we have not created this relationship. See the press release below:
Builder Homesite, Inc. (BHI), an Austin-based consortium comprised of 32 of the nation’s largest home builders, announced today the launch of a new initiative to positively influence public perception of new construction homes. The new initiative represents a significant industry first, supporting home construction as an entire industry and uniting home builders nationwide. This multi-year, multi-million dollar marketing and advertising campaign is aimed at increasing preference for new construction homes among potential home buyers who are comparing new homes with existing homes.
In collaboration with advertising agency GSD&M, BHI has developed a campaign focused on redefining the “new” in new home. The initial campaign launch is driven by digital advertising cleverly demonstrating the many benefits of new construction homes. Future campaign elements will include a comprehensive website, produced and user-generated videos, interactive games and other tools that highlight the joy and freedom of new home ownership.
“We understand that consumers today face a wealth of choices when it comes to buying a home,” said Tim Costello, president and chief executive officer of Builder Homesite, Inc. “New homes offer many advantages for today’s modern home buyer, however, many consumers simply aren’t aware of the benefits of new home ownership. Our goal is to arm prospective buyers with the tools needed to make an educated decision that best fits their needs and lifestyle.”
Research conducted by BHI in partnership with Hanley Wood revealed that buyers shopping for a home are most interested in lower cost of living through lower maintenance, improved energy efficiency, modern floor plans suited for today’s family and superior construction quality. Existing homes are often outdated and unpredictable, requiring home owners to make little compromises which often lead to costly repairs and maintenance. New construction homes, on the other hand, are move-in ready. With warranty-backed construction, energy efficient technologies and spacious floor plans, new homes allow home owners to focus on their “want-to-do list” instead of their “must-do list.”
“With the needs of today’s home buyer in mind, builders have invested heavily in engineering and technology in recent years. The resulting home would be inconceivable just 10 years ago,” says Deborah Wahl Meyer, chief marketing officer of PulteGroup. “Houses being built today boast superior structural soundness and durability, forward thinking designs and unprecedented efficiency standards, making this an opportune time for the industry to educate current and prospective home shoppers.”
The home building industry is primed for resurgence after a dramatic decrease in new home sales during the economic downturn. According to the U.S. Census Bureau, new home sales in 2011 marked the lowest recorded since the government began keeping statistics in 1963. Sales have decreased more than 76 percent since 2005, which marked a peak in new home sales.
Despite the recent slowdown, the housing market is showing signs of recovery. According to August figures from the U.S. Census Bureau and the Department of Housing and Urban Development, new home starts are up more than 29 percent from over a year ago, reaching an annual rate of 750,000. In addition, permits for new homes rose in August to an annual rate of 803,000 – a 25 percent increase from August 2011.
Encouraged by the recent growth in new home sales, many home builders are optimistic about the future of the home building industry. In fact, builder confidence is at its highest level since 2007, according to a recent NAHB/Wells Fargo housing market index.
“The United States is emerging from a challenging economic period, and our industry has certainly felt the blunt effects of the broader economy,” said Kathi James, chief marketing officer of Beazer Homes. “With each market share point equaling $8 billion in annual revenue, there is tremendous opportunity for growth as we seek to impact prospective home buyers. Today’s new homes offer the best in modern amenities, quality craftsmanship and energy efficiency and, in supporting this campaign, we look forward to collectively showcasing the distinct features that separate new homes from existing homes.”
ABOUT BUILDER HOMESITE, INC.
Headquartered in Austin, Texas, Builder Homesite, Inc. (BHI) was founded in 2000 as a consortium of 32 of the nation’s largest home builders. With a mission to bring home building industry leaders together to champion and strengthen the industry on a collective level, BHI strives to improve communication and create better solutions for builders, real estate agents and new home buyers. BHI’s digital arm, Builders Digital Experience (BDX), offers digital marketing products for builders and real estate professionals. To search the Internet’s most comprehensive selection of new homes, go to www.NewHomeSource.com. For more information about the benefits of new home ownership, visit NewHomeDifference.org.
This way can be very helpful, when anyone is short on inventory. Teaming up with home builders is a great strategy.