Noel Christopher, Senior Vice President of Portfolio Services at Renters Warehouse, joins us to discuss why the build-for-rent phenomenon is likely going to change the home building industry forever. Also in this episode,Kevin Oakley, Andrew Peek, and Jackie Lipinski discuss the hesitancy being seen in potential home buyers due to them not understanding how to purchase a home from builders.
Story Time (1:53)
- Jackie shares the story of a home builder who was so excited to come to the Summit in August that they cracked the code to view the secret ticket purchasing link and bought a summit ticket at 11 pm on the night before the launch to save their spot.
- Andrew wants to remind builders to add “Checking out all of your ads” to their Monday morning routine. A few quick items to look for always are: Are they running – yes or no. Performance up or down. Why – why not – repeat. Check out Andrew’s previous article regarding setting up automatic reports so you don’t get caught off guard here.
- Kevin discusses the tension of knowing when to bring ad spend back up as well as every builder needs to access their call-to-actions and verify the current messaging is consistent with what actions builders want customers to take.
In the News (16:33)
- Contracts terminated unexpectedly for Eagle Mountain home buyers (fox13now.com)
- Homebuyers are the most pessimistic they’ve been in a decade thanks to tight supply, high prices (cnbc.com)
- The Most Common Reason Active Buyers Can’t Close the Deal (nahbnow.com)
- WhatsApp breaks App Store guidelines by limiting functionality for users who do not accept the new privacy policy (applescoop.org)
Question of the Week (33:50)
- Would you pay $50 a year to use FB/IG with complete privacy and no ads?
Noel Christopher
360 Topic of the Week: Build-to-Rent with Noel Christopher (39:00)
Noel Christopher, Senior Vice President of Portfolio Services at Renters Warehouse, joins Kevin Oakley to discuss the topic that’s on the minds of many home builders – Build-to-rent homes. They discuss the reasons builder may consider the option of build-to-rent, how involved or not involved home builders can be based on their individual needs, what product changes might be considered if a builder is looking to rent, and more:
- How build-to-rent homes solve the problem many people have of wanting to be in a home but not being able to afford the ever-increasing prices of homes and not being able to afford a down payment.
- The average length of time renters stay in single-family homes, based on the data collected from the 23,000+ homes they manage, is around 3 years.
- How builders may want to consider the lifetime value of the customer and the continued relationship
- How builders intending to move to build-to-rent should consider what products are needed vs sticking to what they think they know
- Zillow.com has accounted for around 85% of all tenant leads
- Current homeownership rates (advisorperspectives.com)
Questions? Comments? Email show@doyouconvert.com or call 404-369-2595 and we’ll address them on the next episode.
More insights, discussions, and opportunities in the Market Proof Marketing Facebook group.
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A weekly new home marketing podcast for home builders and developers. Each week Kevin Oakley, Andrew Peek, and others from Do You Convert will break down the headlines, share best practices and stories from the front line, and perform a deep dive on a relevant marketing topic. We’re here to help you – not to sell you!
The post Ep 149: Build-to-Rent Q&A with Noel Christopher appeared first on Online Sales and Marketing for Home Builders - DYC.
