Mattamy Limits Over-Eager New Home Buyers

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Wow! We’ve never seen this before in the new home industry. A marketing email from Mattamy Homes that recently landed in my inbox caught my attention. The email was about a new release of homes for sale at Mattamy’s Hawthorne South Village community at Sixteen Mile Creek in Milton. In the list of rules and information about the new release and registration for it, this item was included:

“Previous Buyers With Pending Agreements Of Purchase & Sale With Mattamy Homes Are Not Eligible To Purchase. We Thank You For Your Interest.”

Mattamy Homes is not allowing existing buyers of unclosed Mattamy homes to buy any more new homes.

Mattamy has historically been a price leader. They have attracted more than their share of investors. Their main concern now is that buyers of multiple homes may not be able to close – the buyers may be able to come up with a deposit, but they need/want price to be up at closing. Mattamy sees that prices are not going up these days, so the likelihood of the homes they sold appreciating before closing is small. Therefore, buyers of multiple homes may be biting off more than they can chew, which will ultimately affect Mattamy.

This is a statement by Mattamy that they see market staying flat and/or their buyers not being financially able to close on multiple homes.

(Read my recent blog post, 2019 Toronto Housing Market: A Year of Opportunity?, for more info on the current state of the market.)

What are your thoughts? Comment below or find me on Facebook or LinkedIn to join the conversation!

BAM Goes to the NAHB International Builders’ Show

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This past weekend, I embarked on a trip to Las Vegas for the NAHB International Builders’ Show in search of inspiration. What I found was a plethora of new and fresh ideas, and I could not be more ready to tackle the year ahead.

The first part of the event is taking in the new offerings from manufacturers. I got to browse all the latest trends in building and design, and this year there was a big emphasis on new luxuries for kitchens and bathrooms. It seems as though the market is catering to a more luxurious and almost escapist approach. Bathrooms are looking more like spas and kitchens are looking more like restaurants, and it’s creating better experiences for homeowners. We’re in the age of multiple showerheads and jets! One product that stood out for me was a showerhead from Kohler; it had a speaker built in so you can play audio from your handheld device via Bluetooth.

Another thing I noticed is that many Chinese companies are beginning to enter the market. What the Chinese bring are innovative designs at lower prices, ultimately lowering prices of products that are expensive in the current market. This will create more value and selection for homeowners.

Another great thing about the Builder Show is the chance to get a first hand look at the products and trends coming to the GTA. Understanding what is available for GTA homebuilders always helps with pitching projects and encouraging our clients to offer more to consumers.

And lastly, what would a building show be without the seminars. This year we made a special effort to attend as many digital marketing seminars as possible; staying ahead of the curve is very important in today’s always changing and expanding digital market.

As expected, my trip to the International Builders’ Show left me more passionate about this industry than ever, and revved up with new ideas for 2014.

Visit the BAM Facebook page to see a photo gallery from the event.

Fear and Loathing in a St. Martin Sales Office

The Indigo Green sales centre in St. Martin.

The Indigo Green sales office in St. Martin.

My recent vacation to St. Martin wasn’t all pleasure. I took some time to visit a local sales office as a reconnaissance mission. Upon entering the sales office, I was first surprised by the size and, let’s say, lack of quality. As a real estate marketer, I will say that I wasn’t impressed. Inside the sales office, one lone desk sat stagnant in the tiny room. The walls were practically bare and the lighting was dim. The place lacked emotion without any visual stimulation.

There is a point to all this! I was appalled by how horrible the sales experience was for $600,000 homes and visiting this sales office made me think of how well we present and package pre-construction housing here in Toronto.

The market here at home is vastly different; new developments and communities sell fast and before the shovel breaks the soil. As a marketer, this style of buying forces you to deliver your best marketing time and time again. I’m proud to say I’ve contributed to making Toronto the number one pre-construction market in the world. As a result of the technology and strategy we’ve implemented in our campaigns, we sell more homes before they’re built than anywhere else. That stat alone speaks to the caliber of marketing in the Toronto scene.

The way in which Toronto has grown to such a successful pre-construction market is because we offer something extra. We offer touchscreens, scale models, social media and much more, and these interactive marketing materials and showrooms create an experience for homebuyers. We attempt to sell the lifestyle and benefit of new home communities and to educate and excite them. This was solely lacking in my experience in St. Martin. We’ve evolved this way because people like me are always hungry and always searching, traveling and researching our competitors and other markets with the goal to always get better and outdo one another.

Adapt or Die: My article for Ontario Home Builder’s magazine

In an article I wrote for the latest issue of Ontario Home Builder magazine, I took a look at the changing landscape of technology in real estate marketing. The article explores basic marketing principles like knowing your audience, but discusses how technology can vastly improve marketing homes to certain demographics and coming up with new and innovative ways to solve the hurdles of traditional marketing. The new marketing 101.

Read the entire article:

 

John's OHB Magazine article Winter 2014 - scan of published copy

Christmas at BAM

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A couple of weeks back, the BAM team celebrated Christmas with a bang at the Zazou Lounge in downtown Toronto. Not only is the BAM Christmas party a time to relax, have some fun and get to know each other and each other’s families a little better, it’s a time for celebration. It’s a celebration of comradery and teamwork and celebrating the year that was, which, with its ups and downs, was one of our best.

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One thing I like in particular about the BAM Christmas party is having the spouses/partners see what BAM is all about. The BAM employees are high-energy people; they’re very engaged and often make personal sacrifices to make sure their job gets done. It’s important for the families to witness that type of engagement in action and I’m sure they took notice of how well we get along. It’s also important to put a face to the names they only hear at home.

The major highlight of this year’s party was the team’s assignment to construct a video about why they should win a set number of prizes. I could not be more impressed with their output. The results showcased the creativity, interest and engagement by a great group of people.

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But ultimately, it’s Christmas. Our party is a way for me to say thanks to everyone for their hard work, determination and sacrifice over the past year in making BAM grow. The party was a huge success and you better believe it set the tone for next year. Our engines are revving and ready to go in 2014.

See a full gallery at the BAM Facebook page.

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