Terms | Homebuilders

Industry Specific Definitions

• CRM - Customer Relationship Management.
• CRM in the Homebuilder Industry - The complete set of business processes and software applications that a homebuilder uses to interact with and document customer meetings, activities, and correspondence throughout the entire buying cycle…From generation of a lead and contract management, through construction and closing, to beyond the warranty period. 
• Application - A computer program designed and developed to solve a business need or automate a specific task.
• Process - A defined set of activities, behaviors, or work-flow patterns that, when put together in a specific order, will produce a desired outcome.
• System - The combination of processes and applications that are aligned strategically to solve a complex business need.
• Customer-for-Life - This is a concept that helps homebuilders increase revenues from customers in terms of ancillary product offerings (i.e. mortgage, title, post-closing services, etc.), and customer satisfaction and word-of-mouth referrals for incremental sales… in addition to future sales of homes to the same buyer.