78%
That’s the share of people who state that they’d be willing to buy from a company with an excellent reputation score, according to RepTrak.
People like to work with, and purchase from, people they know, like, and trust. Your reputation drives prospects to your products, keeps clients coming back, and acts as the catalyst for your growth. But what makes your reputation as a builder, and how can you leverage it to sell more homes?
Today, we’ll look at which aspects determine your reputation and how you can leverage your reputation to sell more homes, using Simon Sinek’s concept of the Golden Circle.
What makes your reputation?
There are many nuances to what makes for a good reputation, but we can boil them down to two overarching themes.
- Products and services
- What you stand for
Your clients and prospects expect high-quality products and services as a baseline for working with you. This is the foundation of your reputation. If your products and services are high quality, you’ll have a head-start on leveraging your reputation. Your products and services are what your prospects and clients look for.
But having a high-quality product or service is just the jumping-off point. Even if you have the best product or service around, that usually isn’t enough to leverage your reputation alone.
Prospects and customers increasingly want to know what your company stands for—what your purpose is. Your purpose is why your clients should buy from you, and it drives your ability to leverage your reputation into more sales.
Builders can leverage their reputation by focusing on their higher purpose
In terms of leveraging your reputation, your why (purpose) is more important than your what (product). And your purpose can’t simply be “to make money” or a vague call to “make people happy.” Generally, people expect the companies they purchase from to have a higher purpose. This higher purpose could be to improve people’s lives, local communities, or society in general.
As a builder, you can leverage your reputation to sell more homes by communicating your higher purpose clearly.
People buy new homes for countless reasons. One common thread among them all is that they want a house in which they feel safe. They count on you not only to build safe houses but also have solutions for instances where their homes become structurally unsafe. Given this information, your higher purpose might be “We give people a place to live, grow, and thrive safely.”
Note that your purpose doesn’t pitch a product. It answers the question “Why should I buy from you?” not “What do you sell?” At this stage, we’re speaking to the things that matter to people emotionally and psychologically to give them a reason to work with us.
Communicating your higher purpose should speak to your prospects’ emotions. Show them why working with you can make their lives or communities better. Starting the conversation by establishing that you’re working toward the same things they are is the first step toward leveraging your reputation. Communicating in ways that show people you aren’t just pushing product improves your reputation.
When people clearly understand that you’re on their side, it builds trust. People are more likely to buy from people they trust.
How to deliver on your higher purpose
Once you entice a prospect with your purpose, you need to show how you deliver on it. Saying that you follow building codes and requirements is a good start, but that’s the expectation. In other words, every good builder does that, so it’s not a differentiator in terms of reputation. So, how do you deliver on your higher purpose?
Showing how you deliver is where 2-10 Home Buyers Warranty (2-10 HBW) can really help you leverage your reputation.
Consider a few facts about new homes and new-home buyers:
- The average cost to address a structural defect ranges from $42,000 to $113,000.
- 4 of 5 buyers value a third-party, insurance-backed structural warranty.
- 94% of prospective buyers say that they’re more likely to purchase a new home from a builder who offers a structural warranty, according to a joint survey from the National Association of Home Builders and 2-10 HBW.
Buyers value safety and solutions to major problems. No one wants to have to pay between $42,000 and $113,000 to address structural issues. Working with 2-10 HBW answers the question of “How can we solve unexpected problems related to safety without breaking the bank?”
How 2-10 HBW helps you leverage your reputation
A structural warranty from 2-10 HBW relieves you of the obligation to repair structural defects. This shows how you can achieve your higher purpose by providing a concrete solution to unexpected structural safety issues that won’t break the bank for you or your buyer.
A structural warranty from 2-10 HBW shows buyers how you address their desire for a third-party, insurance-backed structural warranty. Proactively providing third-party validation of your work is a huge trust builder. When that validation comes from 2-10 HBW, the industry leader in structural coverage, it bolsters your reputation.
And in addition to helping you show how you achieve your higher purpose, a structural warranty from 2-10 HBW fulfills an explicit want for buyers—a structural warranty. When you can provide the best products and services (your home-building skills and a 2-10 HBW structural warranty) to achieve your higher purpose (giving people a place to live, grow, and thrive safely) you can more easily leverage your reputation to sell more homes.
Conclusion
Leveraging your reputation requires a clearly communicated higher purpose, along with strong products and services. You build your reputation on your higher purpose, how you deliver on it, and what you provide to achieve it. Having the best product or service alone isn’t enough. A structural warranty from 2-10 HBW can help you leverage your reputation to sell more homes.
Learn how you can protect your business and add valuable selling points to your new builds with a 2-10 HBW structural warranty.
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