Regardless of what you hear today there are still some definite truths in the real estate industry:
- Real estate is a regional business
- Most peopleÂ still would prefer to live in their own home
- The customer should always be listened to (they are not always right)
- You have to keep learning, training,&adapting
My company, Heartland Homes, is a custom home builder in the Pittsburgh area and I think the key to our success in this overall down market is that we continue to believe these truths and act on them!Â Consider the following:
- The national new construction market is down around 40% (or more)
- The Pittsburgh new construction market is down around 12%
- Heartland Homes is up nearly 30% - and we will sell 500 homes this year so the growth number isn't big because we're a small company
We've introduced numerous new floor plans and products, continued to refine our unique service proposition of "Building custom homes of the highest quality at an affordable price with exceptional customer service that exceeds expectations," and invested in internal training programs.
Beyond updating our product, we try to update how we market the product to be relevant to what is going on out in the marketplace. For example, we created The Seller's Edge
program to show people that we had confidence in our local real estate market - as well as take some of the risk out of selling your existing home and moving forward with us.
Down times when companies who are willing to embrace change can put themselves in position to capitalize in a big way when the "market" improves. Just remember that the most important "market" is between your own ears.
I'd love to hear from anyone else out there who, like me, thinks their regional market isn't all that bad.