Email
Print
ShareWhen home builders devise their sales strategies, the business opportunities they lose or win are often a primary focus point. In such instances, the profit margins and the volume of incoming leads are key to monitoring sales activity.
However, what if you could boost your overall returns without having to modify the sales pipeline? Yes, it’s perfectly possible to achieve this by enhancing focus on sales velocity. Homebuilders can get greater returns if they increase the speed at which they sell home projects.
What Does Sales Velocity Mean?
Sales velocity is essentially a metric that indicates how quickly a builder is likely to sell a new construction home. It effectively enables you to determine how fast your potential clients are advancing through the sales cycle and how much profit you can expect to generate over a certain period of time. The quicker potential buyers engage with you in a new construction project, the snappier the sales cycle, and the higher the generated revenue. In other words, the higher your sales velocity, the faster you’ll make money.
Respond Quicker To Incoming Leads
Responding faster to potential buyers that are willing to enter your sales funnel is an efficient and easy way to boost your conversion rate and, consequently, your sales velocity. When a potential buyer first makes contact with you regarding a new construction project, the speed at which you respond to their query is decisive. Reactivity, particularly at the initial stages of the sales cycle, is critical to boosting your sales velocity.
Use a Centralized Tool To Monitor Your Sales Activity
Remember: you can’t boost your sales velocity if you don’t keep an eye on your sales metrics and set goals. An effective way to get more qualified leads is keeping track of agent and buyer activity in your market. Builders Update is a tool that allows builders to do just that. It also allows you to track properties viewed and pinpoint sales hot spots in real-time.
Deliver Preliminary Designs As Quickly As Possible
A prevalent problem in the home building market is that buyers often have to wait long periods to get preliminary designs. If you take too long, buyers get the opportunity to speak to your competitors. Therefore, moving potential buyers to the next phase of the sales cycle as quickly as possible is key to staying ahead of your competitors.
The nation’s #1 source of new home inventories, Builders Update provides effective construction data solutions to local builders. Visit our website or get in touch with us to learn more.
