Builder Basic's
What is a homesite (or lot)?
This is the piece of land on which a home will be built.
What is discovery?
This is the first and most important step in your call with a new lead.
What is a buyer’s market?
This type of market favors homebuyers because inventory is high and prices are competitive.
What is an earnest money deposit?
This is the initial payment made when signing a purchase agreement.
What is a landing page?
This is the first page a visitor lands on when clicking a digital ad.
What is pre-drywall (or foundation stage)?
This stage of construction happens before framing and includes the foundation and plumbing rough-ins.
What is setting the appointment?
The main goal of every conversation with a prospect.
What is a seller’s market?
The opposite of a buyer’s market.
What is the mortgage rate?
This percentage represents the interest charged by a lender.
What is retargeting?
This type of marketing follows users around the web after they visit your site.
What is the purchase agreement (or contract)?
This document outlines all the structural and design options chosen by the buyer.
What is a CRM (Customer Relationship Management)?
The system used to track and manage leads.
What are spec homes (or inventory homes)?
Homes that are complete or nearly complete and available for immediate move-in.
What are closing costs?
Builders often offer to pay these costs to make buying more attractive.
What is social media marketing?
These posts or campaigns aim to create brand awareness on platforms like Instagram or Facebook.
What is a promotion (or incentive)?
This term refers to the builder’s incentive or special offer.
What is speed-to-lead?
This term refers to the process of following up quickly after a lead comes in.
What is a construction loan?
This loan allows a buyer to finance both the land and construction.
What is a rate buydown?
This term refers to temporarily lowering the interest rate for the first few years.
What is conversion rate?
The rate at which online visitors take a desired action (like filling out a form).
What is a model home?
This area is used as an example home for tours and demonstrations.
What is lead routing?
This tool shows who’s assigned to each incoming inquiry.
What is backlog?
This is what builders call the total number of homes sold but not yet closed.
Who is the loan officer (or mortgage loan originator)?
The person who assists the buyer with their mortgage.
What is CallRail?
This tool tracks incoming calls, sources, and keywords for leads.