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 As the premier plan of Ryland's Masters Collection in Atlanta, the Wilmington model (above) features five bedrooms and over 3,700 square feet. This spacious floor plan is priced from $254,000. BUILDING BRAND VALUE While the attainment of high volume helps to increase awareness of the Ryland name, it is not enough to enhance the value of our brand. Only a consistent emphasis on delivering quality homes and satisfying our customers can do that. Customer satisfaction is a key competitive advantage in an industry where there is often little differentiation in product lines among the top homebuilders. As a result, in 1998 we started a new program that will give us valuable insights into homebuyers' needs and expectations - and thus enable us to go even further in satisfying our customers.
The Amberly model (above) is located in the private golf course community of Northstone in Charlotte, North Carolina. Aside from the championship golf course, homebuyers can also enjoy pools, tennis courts and the luxurious clubhouse with a full-service dining facility. Ryland clearly stands out as the value leader in this private community, with homes ranging from $170,000 to $281,900. We now survey every single one of our buyers and ask them to rate their experience immediately after they move into their new Ryland home and again one year later. This comprehensive customer satisfaction study is being administered by J.D. Power and Associates, a leader in customer satisfaction monitoring and consulting services. Our initial surveys showed that the majority of Ryland's homeowners rate their overall experience positively. During 1998, we implemented several changes in response to the survey results. These changes are helping us improve our already strong customer satisfaction ratings.
The Cabernet model (above) is the Denver division's top-selling plan, with an average selling price of $225,000. This four-bedroom, two-story colonial accounted for 71 sales in 1998. Ryland's sales in the community of Stonegate, where this model is featured, are number one among 12 competitors. Another way we build customer satisfaction is through the related services we offer in select Ryland markets. These include title and escrow services through Cornerstone Title Company and Premier Escrow, homeowners insurance through Sierra Western, and professional interior design consultation at Ryland design centers during the buying process. The most valuable service we offer, however, is mortgage financing through Ryland Mortgage Company. Our mortgage-financing operations are organized to closely mirror and support our homebuilding operations, with loan officers frequently working out of Ryland Homes' community sales offices to provide service and information directly to customers. Ryland Mortgage offers an invaluable service to help simplify the homebuying process. It therefore plays a critical role in helping us sell more Ryland homes, and it provides a significant share of Ryland's income. In addition, we know from our customer satisfaction surveys that homebuyers who use Ryland Mortgage experience significantly more satisfaction with the financing process than do customers who use alternative mortgage companies. There is no doubt that by providing customer services that help make the homebuying process easier, and which capitalize on the strength of the Ryland name, we are moving faster toward our goal of becoming a dominant force in the homebuilding industry.
Prior to purchasing land, Ryland conducts comprehensive feasibility studies to ensure that targeted margins and sales rates can be achieved. The Stratford model (above) in Dallas is priced from $153,990. |
