What do you feel would be some common thoughts from prospective customers on wanting to purchase an existing home versus building with KB Home?
As overall housing markets ebb and flow over time, prospective home builders often face their own pros and cons to building a new home versus purchasing an already existing home. The staff at KB Home needs to understand what the common reasons are that prospective customers opt to buy homes rather than choose to build new. The key to answering this question is by highlighting the true benefits that KB Home can provide to any prospective customer. As you learn more about the company before your interview, it should become abundantly clear that these advantages include the full-scale service they provide through the entire property selection, home design, financing, and closing portions of the process. Make sure to talk in depth about this service that you'll be part of representing.
"To me, these customers are concerned about convenience and cost. The general consensus is that once financing is approved, home buyers can quickly find a home they love and close pretty quickly. It's also an industry norm that customers believe that costs are lower with purchasing an existing home. KB Home is doing so many things right and you are frankly bucking all conventional knowledge on the new home construction game. When it comes to customers who are looking for convenience, where else will they find somewhere that assists them through finding the dream location, designing their dream home, and then working with them throughout the entire financing process? In the end, the time and effort they save to build their dream home will be well worth any shortened closing time they would experience buying an existing home. Then when it comes to cost, it's evident that KB Home is helping to save new home builders tens of thousands of dollars on every purchase."
Community answers are written by other candidates practicing this set. Reading how others frame the same question is one of the fastest ways to sharpen your own.
Anonymous Answer
I'd say the fear of overpaying. This market is turning into an auction house. Which makes me even that much more confident in selling a KB Home. KB offers a quality product at a market value with no bidding wars.
Stephanie's Feedback
You clearly identify a significant objection that you hear from prospective homebuyers. In order to deepen the impact of your response, I suggest digging further into how you responded to this objection. What specific strategies do you use to convince potential buyers that they are getting value in exchange for their money and they are not overpaying? Adding these additional details will improve your answer.
