Chat with us, powered by LiveChat

Our Blog

Home Builder #MarketingMondays: Take The Quiz

October 2, 2017

Happy Monday! Every Monday at Meredith Communications is Home Builder #MarketingMonday where we focus on marketing tips specifically for home builders.

This week I am teaching the NAHB Institute of Residential Marketing (IRM) Courses at the Greater Atlanta Home Builders Association. The IRM Courses are designed to teach professionals in the home building industry how to sell homes more effectively. The courses teach students how to:

  • Conduct market research
  • Select land
  • Determine a product mix
  • Create a proforma, operating statement, and a budget
  • Create a marketing strategy
  • Develop a marketing budget
  • Hire and retain sales staff
  • Determine absorption rate and sales pace
  • And so much more!

Test Your Knowledge

Think you are a new home sales and marketing ace? Here’s a quick quiz from IRM Course 1 to test your knowledge. Select one answer per question.

  • What does the operating statement of a home builder show?
    • Return on sales
    • Return on investment
  • What does EBIT stand for?
    • Earnings Before Interest Taxes
    • Expected Burden Informed Taxation
  • What percentage should builders target for a return on sales before interest and taxes (EBIT margin)?
    • 26%
    • 11%
  • Fixed expenses include:
    • Indirect construction, fixed marketing, G&A
    • Lots, direct construction, sales commissions
  • Psychographic research is the study of:
    • Crazy psycho people
    • The science of buying motivations

Why Do You Need to Know This Stuff?

If you work for a builder in sales and/or marketing, understanding the business side of home building will increase your value in the organization and allow you to communicate more effectively with the operations side of the business. If you are an associate member, understanding the financial side of the business is key to communicating with your builder clients. In addition to covering the financial aspects of building, the courses also cover important sales and marketing concepts like how to create a marketing budget, what marketing tactics drive traffic, and how to staff and manage a sales team. If you are a veteran in the industry, the courses will be a great reminder of key points you already know but have forgotten to put into practice. And if you are new to the industry, there is no better way to gain a solid foundation than taking the IRM Courses.

If you are interested in taking the IRM Courses, I will be teaching them again in Raleigh, NC, October 24 & 25. Click here for more info.

How well did you do on the quiz above? Leave me your answers in the comments and I will let you know.

Links to Learn More

IRM Courses

National Sales & Marketing Council

National Sales & Marketing Council Facebook Group

Tags: , , , , , ,

Categorised in: , , ,

Want us to get started working for you?

Call 866-227-9769

Contact Us


Content Marketing

Successful Marketing For Homebuilders Begins With These Three Actions

Share on FacebookShare on TwitterShare on Linkedin When you’re in the business of homebuilding, the land procurement and home construction side of the business often takes precedence. Creating beautiful new homes takes a lot of hard work, after all! And...

Career Advice

Here’s How You Sell The Right Way

Share on FacebookShare on TwitterShare on Linkedin Have you ever considered that the questions the buyer asks you are clear signals of their phase in the buying journey? We so often fail to listen to the whole question because we...

Digital Marketing

Keyword Research That’ll Knock Out Your Competition 

Share on FacebookShare on TwitterShare on Linkedin As a digital marketer, you probably hear the word “keyword” over and over again. So what are they and why should you care? Keywords are necessary when it comes to the findability of your website. That is, they help searchers locate your site...


Subscribe to receive updates about our products and services:

Contact Us

8311 Brier Creek Parkway
Suite 105, PMB 428
Raleigh, NC 27617

Phone: 866-227-9769
Fax: 321-226-0246

Privacy Policy | Copyright 2019


You’ll love my newsletter packed with tips, how-to’s, and strategies to drive more traffic, leads, and sales to grow your business, plus: