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Carriage Park

Hendersonville, North Carolina

Name of Project:
Carriage Park
Community details:

Total acres: 400

Total homesites: 600

Homesites from: $100k – $345k

Community highlights:

Community clubhouse lodge

Minutes to Hendersonville

Views of the Blue Ridge Mountains

Nature trails

Wellness Facility

Security

Destination:
Hendersonville, North Carolina
Overview
Carriage Park is a master-planned, mountaintop community just outside Hendersonville, North Carolina. Known for its expansive views of the Blue Ridge Mountains, Carriage Park has proven itself a welcome change of pace for many baby boomers moving south after retirement.
The Challenges

Carriage Park’s sales were slowing as its marketing plan lost focus. Few tours and low conversion rates led to an incredibly unmotivated sales team. Land assets and available lots were undervalued based on an analysis of competitive real estate pricing. Catalyst was enlisted to turn around both sales and marketing performance and reenergize the mountaintop community by generating momentum and getting lagging sales numbers back on track toward earlier sales and ROI projections.

Enter Catalyst
Catalyst provided an abundance of turnkey services to the Carriage Park project, helping with everything from rebranding and repositioning the product in early 2005 all the way through the administrative and brokerage services necessary to close contracts as sales progressed. Initially, Catalyst realized that Carriage Park’s land assets were undervalued relative to similar projects in the area and would need revaluing to suit the market, which nearly doubled the developer’s average home sale price. In the first 12 months of the project, Catalyst worked to rebrand Carriage Park, giving it a new image, and also implemented a nationwide marketing program. The skills of the sales team were evaluated and custom-tailored training programs were implemented. Catalyst’s experience allowed the team to refocus the marketing budget effectively, increasing both lead generation and tours of land at Carriage Park, all the while giving the newly trained sales team plenty of opportunity to convert these new prospects.
Results

Sales volume nearly tripled in the first year, increasing from $800,000 to $4 million. With an increase in asset value and sales volume, the balance of the project was successfully sold and the owner doubled anticipated profits by the sellout of the development in 2007.

“Catalyst did a fabulous job. They first put together a completely professional sales organization – marketing, qualified lead generation, sales training – then converted prospects to contracts, and followed it all through to closings. They found that we were underpriced on the asset side, which then resulted in their doubling our prices, doubling our sales volume, and doubling our projected sales.”

-David Williams, Carriage Park

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