MHC Investing 101: The Need for Innovative Sales Strategies
By: John Ace Underwood and Tammy Fonk, Co-Founders of FillrateMHC.com
Manufactured housing communities (MHCs) play a critical role in providing affordable housing options for a diverse range of residents, including low- to moderate-income families, retirees, and first-time homeowners.
Despite their significance, MHCs face unique challenges in attracting and retaining residents. Traditional sales approaches may no longer suffice in a rapidly changing housing market.
This article explores the necessity of innovative sales strategies in MHCs and offers practical insights on how these communities can implement cutting-edge techniques to enhance their appeal and drive occupancy.
Challenges in the Manufactured Housing Market
Manufactured housing offers numerous advantages, such as affordability, flexibility, and faster construction times. However, MHCs often contend with several obstacles:
Stigma and Misconceptions: Manufactured homes are sometimes unfairly viewed as lower-quality or temporary housing solutions. Millions of potential prospects would be happy to live in a manufactured home or an MHC, but simply haven’t ever explored this option.
Financing Barriers: Potential buyers often face difficulties securing loans for manufactured homes compared to traditional homes. Because of these challenges, potential buyers are often hesitant to begin the process of buying a manufactured home.
Competition: MHCs compete not only with other communities but also with other affordable housing options, such as rental apartments and even entry-level single-family homes.
Leaning into these challenges
To address these challenges and stay competitive, MHC operators must adopt innovative sales strategies that go beyond traditional methods.
Addressing Stigma: Innovative marketing and sales approaches can help reshape public perceptions of manufactured housing, emphasizing modern designs, quality construction, and community benefits.
Enhancing Customer Experience: Utilizing new technologies and personalized services can significantly improve the buying experience, making it easier and more attractive for potential residents to choose manufactured homes.
Expanding Market Reach: Leveraging digital tools and creative outreach methods can help MHCs reach a broader audience, including younger buyers and tech-savvy consumers.
Innovative sales strategies are essential for the success of manufactured housing communities in today’s competitive and evolving housing market. By embracing technologies, leveraging data-driven marketing, engaging on social media, offering flexible financing, organizing community events, investing in professional branding, and utilizing CRM systems, MHCs can attract and retain residents more effectively. As the demand for affordable housing continues to rise, MHCs that adopt innovative sales strategies will be better positioned to meet this demand and thrive in the long term.
For more information on selling systems for manufactured housing communities, visit www.fillratemhc.com.