Keep in mind, without ever having to say it, that this is her last home and it must meet two primary needs. It must allow her to live luxuriously and securely, and to age comfortably and with dignity.
The boomer woman also plans to remain active and social; she likes walking trails, swimming pools, clubhouses, golf courses and other community amenities. She also demands a sense of ambience and quality.
It’s critical to create a welcoming environment, from sales and design discussions through contract execution. Lose the “hard sell” sales approach because if you earn her respect, you’ve won her business. Boomers are your most affluent clients, and the boomer woman expects topnotch service.
Your sales staff must have thorough answers to her increasingly sophisticated questions like: “How many heating/cooling systems will we need?” “Will low-E windows be sufficient on our large southwestern windows?” “What are the advantages and disadvantages of engineered stone and granite for countertops?”
Help Her to Spend
The boomer woman understands the benefits of a quality automobile and is willing to pay more for those benefits when buying a new car. It’s the same with building a new home. If she understands the benefits of quality construction, it will allow her and her partner to spend responsibly to build their dream home.
It’s amazing to me that buyers must work so hard to get the information they need in order to spend more money. Don’t do this to her. Be upfront, make the process understandable and informative and don’t keep her waiting for the price. Display or produce it for her within 24 hours or use state-of-art software to create your presentation. The software will quickly pay for itself because the boomer woman will be ready to buy, especially if the presentation is informative and attractive.
A Contract Must Be an Agreement
Which parts of working with buyers, especially women, are recurring challenges for you and your staff?
For smooth scheduling and faster closings, have the following items clearly explained in your contract:
- Payment schedule and conditions
- Change orders
- Site visitation — who, where, when, why
- Communication — scheduled meetings
- Walkthroughs/inspections
- Contingencies
- Warranties
Don’t have the boomer woman/couple sign a contract until you’ve explained every important element. And don’t regard your thorough explanation as a chore or nuisance.
Think about it. This is the time in the process when you have your greatest bargaining power. She already has chosen you to build her home or she wouldn’t be there. She wants this relationship to succeed so, even though she is not yet contractually obligated, she will put her energy into helping make it work rather than defending herself in a power struggle.
Establish Realistic Expectations
This is your opportunity to not only explain what each policy is, but also why. For instance, parameters for visiting the job site can become a source of conflict. Most buyers want to watch their nest take shape. Most builders would rather they stay away.
If you don’t want them to visit the job site until it is fairly safe, use true stories of workers who suffered injuries at construction sites. If she has grandchildren who want to accompany her, explain to her that nail guns make dangerous toys. Your policies not only have to make sense, you have to be able to communicate that reasoning with your buyers or else adjust your policies.
If you can’t reach agreement, quit while you are ahead. A reasonable explanation will help build a relationship of trust. Remember, your profit and referrals will come out of superior service.
These insights will help you to attract more business from boomer women as well as earn their continued cooperation during construction. They are fiercely loyal. When delighted, they will generate positive referrals and increase your profits for years to come.
Your success can be measured by how completely they feel that this home is their creation. They will show it off to family and friends with pride, along with the knowledge that their wonderful builder’s able leadership and support helped make their dream home a reality.
Sara Lamia is president of Home Building Coach, Inc. in Fort Collins, CO. She is author of "How to Enjoy Building Your Dream Home," a workbook for buyers and builders, and hosts a local radio show about home building issues. Lamia is a member of the NAHB Seniors Housing Council. For more information, contact her by e-mail, at 970-402-2600, or visit Home Building Coach, Inc. Web site.
Mark Your Calendar for NAHB's Seniors Housing Symposium 2005
"Building for Boomers & Beyond": NAHB Seniors Housing Symposium 2005 is scheduled for May 16-18, 2005, in Chantilly, VA. Click here for more information.
Learn More About Seniors Housing Through the Seniors Housing Council
To learn more about seniors housing, join the NAHB Seniors Housing Council. The council provides information, education, networking and recognition opportunities for its members and represents NAHB on seniors housing issues. For more details, e-mail Jeff Jenkins or call him at 800-368-5242 x8292.
'Analyzing Seniors' Housing Markets' Available at BuilderBooks.com
"Analyzing Seniors' Housing Markets," available at BuilderBooks.com, examines the complexities of seniors' housing markets and explains what developers, investors and other professionals need to know to understand and operate in these specialized niches. The publication familiarizes readers with the various product types and how they relate to the needs of seniors. It also explains market analysis, consumer research, market segmentation, financial analysis, market maturation versus market saturation and gauging performance of seniors' housing. Three case studies of regional markets comparing the development trends of both independent and assisted living within each market are also included. To view or purchase this publication online, click here, or call 800-223-2665 to order.
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