Is the Party Over

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Is the Party Over?
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(Isnt this a rhetorical question?)Butmust
this be the curtain call? Is there a way to avoid
exiting the stage?
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Lets try to find some blue sky!
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Just how did we get into this mess in the first
place?

• Believing that a good market would last forever
• Forgetting that its still location, location,
  location
• Failure to differentiate our product from the
  competition
• Not realizing the changes that were occurring in
  buyer media habits you dont have a sales
  problem, you have a traffic problem!
• Not realizing weve become a 11 society
• Not realizing that were now in an experience
  economy

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Now how do we get out of this mess?

• A good market doesnt last forever
• New competition (including resales) has
  re-priced your product for you
• Your first loss is your best loss!
• Try non-price incentives first (closing costs
  financing assistance allowances for uninstalled
  options). Discount prices as your last resort
  but if you have to DO IT!
• Differentiate the deal between your standing
  inventory and a new build

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Now how do we get out of this mess?

• Its location, location, location
• Marginal locations always suffer first in a down
  market. If youre buying now, you cant afford
  the wrong location. If youre already in onesee
  the previous slide!
• The value of place-making
• If you cant lead, follow (just follow the right
  people)

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Now how do we get out of this mess?

• Failure to differentiate yourself from the
  competition
• Commoditization can only be won by lowest price!
• Design rules! What is your plus one? Are you
  designing for women?
• Train your salespeople to understand your point
  of differentiation

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www.herhome.com
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Now how do we get out of this mess?

• Not recognizing changes that were occurring in
  buyer media habits
• 50 of my advertising dollar is being wastedI
  just dont know which 50!!
• Traditional media is often underperforming
• Dont let the real estate company pay for your
  advertising!
• Professional photography more than pays for
  itself!
• Its all about the Internet (or so say 80 of
  home buyers!)
• Is the future podcasting? .tv sites?

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Now how do we get out of this mess?

• Not realizing the importance of 11 marketing
• You can survive, and especially thrive, without a
  good data base!
• Understanding buying motivations and then
  tailoring your follow-up to those motivators
• Direct mail can now be personalized!!
• How do your processes add value to the customers
  experience?

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Now how do we get out of this mess?

• Not recognizing that were now in an experience
  economy
• To paraphrase Bill Clinton, Its the experience,
  stupid!
• Were being benchmarked against Nordstrom,
  Starbucks and Home Depot! What is the customers
  experience like in visiting your sales center?
• The value of PR (event marketing) versus
  advertising (grand openings, broker events,
  sponsorships)

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Dont just hope and pray that the cycle turns
up soon

• make something happen today!