Housing Giants - August 25, 2008 - (Page 30) f e at u r e “markets will contract geographically. Ground will be more expensive because everyone will be competing for the infill sites and ‘A’ locations. So densities will increase.” — Chuck Graham sales-manage how to sell financing. What buyers want to know is, ‘How much house can I get, for how little money per month?’” Because sales managers and agents throughout the housing industry are either incompetent or shell-shocked by the market — or both) — many builders are recruiting new sales managers and agents from outside the industry. Richey advocates looking for sales management candidates in the mortgage industry because they have a head start on understanding how to sell and close on financing. “I’d like to see builders hire former loan officers,” he says, although he admits loan officers with sales management potential may be few and far between. “If you find people with mortgage skills who also can sell, you’ll sell a lot of houses, beginning right away,” he predicts. wOrk-OUTS ANd EqUITy FINANcING Management consultant Doug Wilson of Newport Beach, Calif.-based Next Solutions believes builders ought to immediately recruit a specialist with experience in doing work-outs with banks and a finance specialist with knowledge and experience structuring equity financing deals with private investment groups. “A lot of companies we’re working with are recruiting such two-person teams and placing them in separate subsidiary 30 HOUSING GIANTS.8.25.08 www.HOUSINGGIANTS.cOm http://www.nextsol.com/ http://www.nextsol.com/ http://www.housinggiants.com
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