Our Blog

Sign up today for our weekly email packed with tips, tools, trends, and tactics to TRANSFORM your 2020!

    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

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    Tags: , , , , , ,

    Categorised in: , , ,

    Want us to get started working for you?

    Call 866-227-9769
    or

    Contact Us

    Insights

    Home Builder Marketing & Sales

    Covenant Developments Launches a New Website

    Share on FacebookShare on TwitterShare on Linkedin One Website Targeting Multiple Products and Audiences How do we market two completely different products to completely different target audiences with just one website? This is a question we face with a number...

    Home Builder Marketing & Sales

    Meredith Communications Launches New Website For French Brothers

    Share on FacebookShare on TwitterShare on Linkedin If your question for me is what can Meredith Communications do for you, just take a look at what we do for French Brothers Homes. We’re proud to announce the launch of their...

    Apps

    Six Lessons Learned From Hosting a FANtastic Virtual Event – Part II

    Share on FacebookShare on TwitterShare on Linkedin The importance of hosting an online event or summit cannot be stressed enough during this COVID economy. It’s one of the best ways to engage with clients and potential clients and customers while...


    Newsletter

    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 2021

    Get Whova Home Builder Growth Summit

    Summit Ticket Registration

    IF YOU ENJOYED THIS POST...

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