The home building industry has hit a new benchmark. According to data from Do You Convert builder partners, 51 percent of total home builder sales in 2020 originated as an online lead. The online sales contribution rate has doubled in the last five years, and is more than 20 percent higher than the benchmark set in 2018.
Home builders who had solid online sales processes in place at the start of 2020 were able to capitalize on the unprecedented shift in traffic from walk-in to online. Even as things settle down and return to “normal,” home buyers will continue to conduct the majority of their research online. Today’s buyers prefer to get as far along the sales process as possible online before visiting a community in person. Events of 2020 have highlighted the fact that online sales specialists in home building are critical to modern selling.
The increase in online sales contributions can be attributed to five factors:
Online sales programs will continue to make significant contributions to home builders’ total sales volume for the foreseeable future. The online home shopping trend was already well-established prior to 2020 (NAR’s 2018 Profile of Home Buyers and Sellersreported that 95 percent of buyers used the internet during their home search), and this year’s circumstances accelerated it. Builders who already had systems, processes and people in place to handle online leads were able to scale up to accommodate increased volume, leaving others scrambling to find solutions. In 2021, all builders should analyze their current online sales programs and make adjustments to right-size them for the future.
Read the full news release here.
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