who is avid?...rely on social media to find a builder. how important is newspaper advertising?...
TRANSCRIPT
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Customers Engaged™ customers engaged™ © 2015 Avid Ratings Co. and Canadian Home Builders’ Association. All Rights Reserved.
Who is Avid?
A full-service customer satisfaction and reputation
management technology firm.
Working with top performing home builders &
renovators across North America since 1992.
Serving over 2,300 home builders throughout the
Canada and US, 25% of the largest builders in
North America.
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Customers Engaged™ customers engaged™ © 2015 Avid Ratings Co. and Canadian Home Builders’ Association. All Rights Reserved.
Where this all started….
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Customers Engaged™ customers engaged™ © 2015 Avid Ratings Co. and Canadian Home Builders’ Association. All Rights Reserved.
The new rules of engagement...
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Know Your Customers
….and what they deeply value.
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Customers Engaged™ customers engaged™ © 2015 Avid Ratings Co. and Canadian Home Builders’ Association. All Rights Reserved.
Housing Trends
NAR reports that Internet is number one resource
for home research.
Source: 2014 National Association of Realtors Buyers and Sellers Study
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Source: National Association of Realtors® Profile of Home Buyers and Sellers 2014
Leading Sources to Find a Home
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Customers Engaged™ customers engaged™ © 2015 Avid Ratings Co. and Canadian Home Builders’ Association. All Rights Reserved.
Housing Trends
NAR reports that Internet is number one resource
for home research.
NAR reports that 42 percent of home buyers
turn to the internet as their first step in finding
a property.
Source: 2014 National Association of Realtors Buyers and Sellers Study
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Customers Engaged™ customers engaged™ © 2015 Avid Ratings Co. and Canadian Home Builders’ Association. All Rights Reserved.
Source: 2014 National Association of Realtors Buyers and Sellers Study
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Customers Engaged™ customers engaged™ © 2015 Avid Ratings Co. and Canadian Home Builders’ Association. All Rights Reserved.
Housing Trends
NAR reports that Internet is number one resource for home research.
NAR reports that 43 percent of home buyers turn to the internet as their first step in finding a property.
NAHB reports that 80% of home buyers considered customer reviews as "important" when researching a builder
Source: 2014 Bokka Research and NAHB Research Center
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(Source: 2014 Conversion Report by Bokka Group and NAHB Research Center)
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Canadian Home Building Market 2015
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Inaugural Year
CHBA Home Buyer Preference Study
powered by Avid®
Over 12,000 recent new home buyers surveyed across
Canada
13% Response Rate
Results by Province, Buyer Type, Age Group, Home Type
Detailed data collected on:
Marketing resources used in decision-making process
Home features, building amenities, community features
Energy efficiency, construction methods & materials
And much, much more
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Characteristics of New Home Buyers
New Home Search Process
Overall Home Design Preferences
Mid/High Rise Amenity Preferences
Community Amenity Preferences
Study Overview
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Who are today’s home buyers?
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The demographic details of the respondents.
45% Generation X
38% Generation Y
(Millennials)
14% Baby
Boomers
Greatest
Generation &
Generation Z make
up the balance
Buyer Profile
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Single/Couple (No Kids)
Growing family with children
Downsizing family seeking smaller home
Semi-retired/retired seeking age-restricted
community
Semi retired/retired seeking mixed-age
community
Seeking a second/vacation home
Seeking an investment property for rental or
short-term resale
Buyer Profile
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What best describes the buyers?
Buyer Profile
Single or couple with no kids are the largest cohort
buying new homes.
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Single-detached bungalow
Semi-detached bungalow (duplex)
Single-detached 2-storey
Semi-detached 2-storey (duplex)
Multi-attached bungalow
Multi-attached 2-storey
Stacked 3 or 4 level flat
Mid-rise condo (5 – 10 floors)
High-rise condo (11 or more floors)
Home Product-Type Definitions
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35% of respondents would prefer a single-detached
2-storey home for their next house.
Buyer Profile
22% prefer a single-attached 2-storey and
21% a single-detached bungalow.
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Over 50% of the respondents would prefer a lot size
between 30 ft. and 50 ft. wide.
Buyer Profile
And 21% would prefer a lot size
greater than 50 ft. wide.
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42% of respondents would be looking for a 3-bedroom
home.
Buyer Profile
37% would prefer a 4-bedroom, while
12% would be seeking 2-bedrooms.
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40% of respondents would prefer 2 ½ bathrooms.
Buyer Profile
3 baths or 3 ½ baths are preferred by
roughly 20% respectively.
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55% of respondents would prefer a brand new house
from a builder for their next house.
Buyer Profile
Adding Custom, 73% of buyers would
build again!
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What are respondents most willing to accept to
make their next home more affordable?
Smaller home 22%
Location farther from
work/amenities 20%
Fewer community
features 20%
Unfinished spaces
18%
Not lower quality nor
less energy efficiency
Buyer Profile
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We know more about who they are…
…..but how are they shopping?
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How important is the Internet as a resource in finding
a builder?
85% of respondents find it important.
Marketing
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What age group is using the Internet to find
a builder across Canada?
Every age group is using the Internet
with Millennials leading.
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How important is Social Media as a resource in
finding a builder?
Marketing
52% of respondents find it important.
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What age group is using the social media
to find a builder across Canada?
The younger they are the more they
rely on social media to find a builder.
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How important is newspaper advertising?
Marketing
62% of respondents rate newspaper ads on
the “unimportant” side for finding a builder.
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How important are model homes in a buyer’s final
decision-making process?
Marketing
97% of respondents find them
important.
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How important is a builder’s website in a buyer’s final
decision-making process?
Marketing
90% of respondents find it important.
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Are online customer reviews impacting your sales?
Marketing
89% of respondents find them important in
their decision making process.
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Do your model homes need to be virtualized?
Marketing
They do if you want to appeal to the 86% of
buyers who find virtual tours important.
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How important are customer testimonials in a
buyer’s final decision-making process?
Marketing
Only 61% of buyers find them important –
the lowest of the group.
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Overall Home Design Preferences
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Feature Category Definition
Must Have
Really Want
Nice if Affordable
Not Important
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Customers Engaged™ customers engaged™ © 2015 Avid Ratings Co. and Canadian Home Builders’ Association. All Rights Reserved.
Top 10 “Must Have” Home Features
Overall 1. Walk-in closets
2. Energy efficient appliances
3. Overall energy efficient home
4. High-efficiency windows
5. Kitchen islands
6. Linen closets
7. Open concept kitchens
8. Large windows
9. 2-Car garage
10.Walk-in pantry
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“Must Have” Feature
A “Must Have” Feature to 68% of respondents
and a total of 92% want or must have.
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Walk-in Closets
“Must Have” Feature
Buyer Profile
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Walk-in Closets
“Must Have” Feature
Home Type S
em
i/duple
x B
ungalo
w
Sem
i/duple
x 2
-sto
rey
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“Must Have” Feature
A “Must Have” Feature to 68% of respondents
and a total of 90% want or must have.
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“Must Have” Feature
A “Must Have” Feature to 64% of respondents
and a total of 89% want or must have.
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“Must Have” Feature
A “Must Have” Feature to 63% of respondents
and a total 89% of want or must have.
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“Must Have” Feature
A “Must Have” Feature to 64% of respondents
and a total of 89% want or must have.
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Customers Engaged™ customers engaged™ © 2015 Avid Ratings Co. and Canadian Home Builders’ Association. All Rights Reserved.
10 Less-Valued Features
1. Open parking & single garage
2. Laminate countertop
3. Swimming pool
4. Vinyl siding
5. Home workshop
6. Hobby/game room
7. Whirlpool tub
8. Stucco exterior
9. Outdoor whirlpool/spa
10.Outdoor fireplace
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Top “Mid/High Rise” Features Overall
24-Hour Security
Health Club/Gym
Wireless Internet Access
Throughout Building
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Mid/High Rise Features
24-hour security is a “Must Have” Feature to
43% of buyers and 65% want or must have.
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Mid/High Rise Features
Wireless Internet is a “Must Have” Feature to
42% of buyers and 65% want or must have.
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Mid/High Rise Features
Health Club/Gym is a “Must Have” Feature to
35% of buyers and 64% want or must have.
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Top “Community Features” Overall
Walking & biking trails
Overall landscaping
Parks & recreation centres
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Community Features
Walking and biking paths are a “Must Have”
to 53% of buyers and a total of 87% want or
must have.
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Community Features
Parks and recreation centres are “Must
Have” for 46% of buyers and a total of 82%
want or must have.
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Community Features
Community Landscaping is a “Must Have”
feature to 41% of buyers and a total of 80%
want or must have.
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Interested in learning more?
National Report (PDF) available through CHBA
http://www.chba.ca/buyersurvey.aspxy.aspx
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Purchasers will also receive access to the
survey data in Avid Reports software.
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Avid Reports Question Ranking,
Frequency Reporting,
Survey Viewer, & more
User defined/specified
data-mining of all survey
questions
Drill-downs by product
type, buyer type, age group,
province
Participant builders obtain
all data from their home
buyers complimentary
![Page 61: Who is Avid?...rely on social media to find a builder. How important is newspaper advertising? Marketing 62% of respondents rate newspaper ads on the “unimportant” side for finding](https://reader034.vdocuments.site/reader034/viewer/2022050323/5f7c61add9ea59538c73b0c3/html5/thumbnails/61.jpg)
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Customers Engaged™ customers engaged™ © 2015 Avid Ratings Co. and Canadian Home Builders’ Association. All Rights Reserved.
Question & Answer