What is the mindset of a luxury car buyer? How does the conversation go in a Porsche or a Benz showroom? Price negotiations? Questions on quality? Questions on value? USP?
None of the above, right? ‘Cos when you have decided to look at a Porsche to buy, your decision is almost through – you already know what the brand stands for, the value it offers, and the pride that it is going to bring. This is a brand that epitomises luxury and is beyond ‘premium’.
Now, envision – a future where the buyers coming to you, come with a pre-mindset to buy – who already know of the value, luxury, convenience and comfort the property will bring them. They approach you with pride-tinted eyes. There are no hard bargains. It is an interaction that ends with a sale…every time.
Premium brands don’t deal with negotiations and irrelevant questions. They establish themselves with the value they have on offer, and this value does the talking or selling. Their references come from word of mouth and high references. Such brands engage with high intent, elite customers who approach with a reasonably made-up mind. There isn’t much pitching to do.
This is how you stand out. This is what a well defined competitive advantage yields. This is what it means to be ‘premium’. And beyond.
Defining the edge
Let’s take a look at some proven ways to beat the competition, in general, as a real estate developer.
- Addressing the pain points of buyers in your market – when new-age buyers set out, they already know what they are looking for, have their requirements defined, and they are looking to see perhaps which developer will address a pain point best.
- A USP – This is what puts you above the rest. This is that one thing you offer which others don’t. The one thing that you do differently and better than any other player around.
- Something that you do differently…do better…offer better. A value-add that puts your homes above the rest.
- Is there an identified niche market where you specialise in? Perhaps a target market that is very specific, and you offer a niche service that others don’t for that audience.
Are you there yet? Have you got these nailed?
Are you looking for ways to better yourself on this front?
Here’s one way to get there quickly, and effectively at that.
A value-add that should feature on your catalogue. And stand out. As a premium builder.
Let us take an instance of a block with 100 homes. Let’s say 10 of them are equipped with smart home technology and are connected homes. We can assure you that it is these ten that will display the ‘Sold’ signage first. We know this for a fact.
You may have read our blogs on the usage trends and the projected market growth in the smart home segment. The smart homes market was initially valued at USD 64.60 billion in 2019 and is now expected to rise to USD 246.42 billion by 2023. This is at a CAGR of 25% spread over the forecast period 2020 to 2025. COVID has only accelerated the adoption of smart home technologies further. Numbers speak for themselves, don’t they?
Now, let us see how smart home automation can help you mark those differentiators we spoke above, to gain the edge against the competition – how you can harness this technology to empower you as a premium builder, helping you achieve that competitive edge.
Go Smart and get that edge.
While your buyers wish to up their lifestyle quotient by living in a home that offers luxury, great comfort, a unique experience and peace of mind, it’s time for you to up your brand quotient by offering something that’s beyond ‘premium’.
A buyer will always go with the best that is on offer. That’s the thumb rule any day? Now, buying a home, for most, is a one-time investment. So, the buyer will be most conscious to invest in something that he will not regret later! And most depend on the developers who offer options that promise a unique experience, something that is reliable, and scalable in the future.
If you, as a builder, can provide such options – additional features and value-adds – this is going to make the buyer lean on to you over your competition.
Here are some pointers on how you can rein it in with smart home technology.
Premium brands for a premium customer
How can you evidently establish premium-ness? By aligning your name with premium brands! Bring the most premium brands in the smart home market together. Showcase how they can be integrated and configured to deliver the ‘connected’ experience.
Technology, especially in this segment of smart homes, is something so dynamic, that you shouldn’t quite gamble on unknown products. Especially when it is not your primary area of offering, but a value-add meant to give you the edge!
So! A reliable approach here would be to align with known, established brands – choose from a mix of smart devices that are already considered ‘of value’.
Get this right, and you have something of value to that elite buyer you are aiming to sell to.
User friendly, bespoke solutions for a connected home
Thanks to COVID and the new normal, it is all about user-friendliness, convenience and safety. The pandemic has also given rise to a demand for bespoke solutions. Every home environment is now even more different than it was a year back. Every home is now a school, a workplace, a care-home – all rolled into one. And every home is as different as its residents, including the pets! No one package fits all. Buyer awareness quotient has heightened, and they are very vocal about the demands.
Offer best-in-class smart homes that deliver the most unique experience. Your buyers are looking for a promise – of convenience, luxury, an interactive experience, the perfect ambience, and a peaceful state of mind! Showcase it to them, and become the preferred choice.
Scalable, future-ready homes
The power of a tool lies in the hands of the user. You may have come across this statement…
Think through how you can give the power to your user – here, you buyer. How can you make your buyer feel that you have done so? Deliver a home that makes your buyer feel empowered and ready to step into the future.
Smart home technology is ever-evolving, and an automated home is the future. The right technology integrated the right way creates a hh-scalable, future-ready home and has the power to change the way residents live, interact, or connect with each other.
How can we help?
We partner with ambitious builders as smart home automation experts, to help them leverage the advantages that smart home technology offers. We bring together world-class smart devices, integrate and customise it all, to deliver an elevated lifestyle and unique experience to its residents, lifelong. We work with builders to help them showcase ‘Smart Home Automation’ as a feature on their catalogue!
A surefire way to showcase and truly ‘show and tell’ the benefits of smart homes, would be to incorporate the best of smart solutions in your display home. Give your buyers a glimpse into the future, the unique experiences they could have, the comfort and convenience. Showcasing future-ready Smart Display Homes to your potential buyers can help,
- attract more potential buyers;
- enhance property value – a minimum 10% boost!
- gain a competitive advantage;
- give your brand a ‘premium’ tag;
- Sell more! Sell faster!
The Smart Hive can help you incorporate the best, bespoke smart solutions in your display homes to provide a holistic and realistic view of the smart lifestyle your buyers can experience. Let your display home do the selling for you!
Ready to explore your options? Give us a call, and we can walk you through how you can get this done!
Harness the power of smart home technology to shape your future as a premium builder. And get that edge. Here and now.