K. Hovnanian® Makes It Easy for Realtors®
June 2015: K. Hovnanian® Homes®, New Jersey’s largest homebuilder, is committed to working with the broker community – and proud to salute its top Realtors® in the Garden State. The company recognizes the importance of the broker market to the success of its new-home communities – and goes the extra mile to make it easy for agents to sell new K. Hovnanian® homes, according to Barry McCarron, President of K. Hovnanian® Homes® Northeast Division.
“Among our New Jersey and eastern Pennsylvania communities, the percentage of buyers who use an agent to buy a new home ranges between 30% to 50% of our total sales,” McCarron said. “Over the years, we’ve recognized that some brokers may not be as inclined to recommend a new home as a used one to their clients, for a variety of reasons. They may feel like they don’t know enough about a builder or the builder’s communities. Or maybe they feel like they’re giving up some control of the sales process. At our new-home communities, we assure them that they’ll receive their commissions with no delay, which is always appreciated. On top of that, we provide a number of helpful sales tools to educate brokers about our processes and our communities, so they’ll feel comfortable bringing their clients here. And then there’s the benefit of our strong national reputation. K. Hovnanian® has been in business for over fifty years and we’ve earned a reputation for quality. That provides a stamp of approval or verification for brokers, assuring them and their clients that we are a builder they can trust.”
According to the National Association of Realtors®, as many as 88% of homebuyers purchased their new or used home through a real estate agent or broker (Source: 2013 National Association of REALTORS® Profile of Home Buyers and Sellers). That number is not quite as high when it comes to new home sales alone, but still significant: historically, approximately 30–35% of all new home sales have been brokered by Realtors®. However, that number has been increasing in recent years, particularly since the last recession.
Last year, one of K. Hovnanian’s® top three brokers in New Jersey and Pennsylvania was Linda Muller of Coldwell Banker. In the past two-and-a-half years, Muller has sold 92 K. Hovnanian® homes, with a dollar volume of $59,430,000 in home sales generated. Muller, who works out of the Coldwell Banker Pascack Valley regional office in Hillsdale, NJ, is a distinguished agent with numerous honors and awards. Muller has been working with K. Hovnanian® for over ten years now.
“It’s very easy for me to represent their communities because they are so welcoming and professional, and because they make everything easy,” Muller commented. “I feel a close bond with everyone I work with at K. Hovnanian®, from sales to construction. The sales teams are very well trained and they assess the needs of my buyers beautifully. They really do help agents when we bring customers in. They take over in a very gentle fashion and overcome any objections. They are very informative about the community and its demographics. The homes are beautifully designed and my customers have been very pleased with what they saw in terms of workmanship. This makes it easy for me to confidently make my presentations to other real estate agencies, who welcome the opportunity to work with the professional staff at K. Hovnanian®. Working with the professional K. Hovnanian® teams is a highlight of my thirty seven years of real estate experience.”
K. Hovnanian® Homes® also strives to makes it easy for buyers to purchase a new home, which is another source of comfort for agents. The company builds a variety of communities (townhome, single-family, active-adult), in a wide range of desirable locations, with varying home styles and floorplans to accommodate most every type of buyer. And with a new K. Hovnanian® home there is no price haggling, so buyers don’t have to worry about making an offer and negotiating a price. The company offers set prices, often with special incentives, so buyers know they’re getting the best deal possible when they walk in the door. The company also has its own mortgage company, K. Hovnanian® American Mortgage, L.L.C.™ (KHAM), which offers loan programs to meet the needs of all types of buyers. KHAM provides full disclosure of all fees and rates upfront, explains to buyers how their mortgage will work, and guarantees that their loan will close on the date specified.
K. Hovnanian® Homes® is currently building the following communities in its Northeast Division: Bayport on Lake’s Bay in West Atlantic City; Big Oak Crossing in Langhorne, PA; Doylestown Greene in Doylestown, PA; K. Hovnanian’s® Four Seasons at Great Notch Spa & Club in Woodland Park/Clifton; K. Hovnanian’s® Four Seasons at Harbor Bay in Little Egg Harbor; K. Hovnanian’s® Four Seasons at Monmouth Woods in Howell; K. Hovnanian’s® Four Seasons at North Caldwell; Magnolia Ridge in East Windsor; Montgomery Ridge in Montgomery, NJ; The Oaks at Cranbury in Cranbury; The Orchards at Monroe in Monroe, NJ; Providence Corner in Upper Providence, PA; Reserve at Montvale in Bergen County; and 77 Hudson in Jersey City. For information on any of these communities, or to learn more about how K. Hovnanian® Homes® works with local brokers, visit any of the builder’s communities or call one of the sales offices to speak with an associate. For directions or to learn more about any K. Hovnanian® Homes® community, visit www.khov.com.
ABOUT HOVNANIAN ENTERPRISES®, INC.
Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian, is headquartered in Red Bank, New Jersey. The Company is one of the nation’s largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Illinois, Maryland, Minnesota, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia, Washington, D.C. and West Virginia. The Company’s homes are marketed and sold under the trade names K. Hovnanian® Homes®, Brighton Homes® and Parkwood Builders. As the developer of K. Hovnanian’s® Four Seasons communities, the Company is also one of the nation’s largest builders of active adult homes.
Additional information on Hovnanian Enterprises, Inc., including a summary investment profile and the Company’s 2014 annual report, can be accessed through the “Investor Relations” section of the Hovnanian Enterprises’ website at http://www.khov.com. To be added to Hovnanian's investor e-mail or fax lists, please send an e-mail to IR@khov.com or sign up at http://www.khov.com.