That’s correct, it’s gone… and for most of us.
There are four types of competition:
- Buying from a competitor
- Using internal resources (prospect does it oneself)
- Budget used for something else
- Do Nothing
No question that post housing-crash our (the industry’s) biggest competition has been “Do Nothing.”
Customers have been frozen for years; hesitant to stray from what’s worked for them in the past, and hesitant to try new things. Too much risk, much safer to “Do Nothing,” specifically when it comes to a new product or service.
We won’t see any massive growth this year in the housing market, nor any time soon in my humble opinion. It is what is, today, and at best with possible incremental growth in the following years.
However, the “Do Nothing” competition is gone; and it’s an opportunity for all of us.
[Disclaimer: My macro understanding of the housing market isn’t the strongest, so please take my opinions with a serious grain of salt, if not a truckload. I focus on the micro – and in that regard, I see a wealth of opportunity to grow sales in partnership with our current customer base]