Eric Lipar on customer service
From A Journey Into Homebuilding | From The Ground Up EP.1 · · From The Ground Up
“When I learned the business, I just kept telling myself, just listen to the customer and make sure you share this information so they have a great experience and everything else will be fine.”
On , Eric Lipar, Chairman & Chief Executive Officer at LGI HOMES INC, spoke about customer service during A Journey Into Homebuilding | From The Ground Up EP.1 on From The Ground Up.
About Eric Lipar
Eric Lipar, chairman and CEO of LGI Homes, has described the company's business model as focused on first-time homebuyers, with over 90 percent of its customers coming from apartments. He has stated that LGI Homes is a "100 percent spec builder" that builds homes in advance of sales so customers can move in within 30 days. Lipar has emphasized the company's reliance on a "systems-based" approach, saying that the company is "not open-minded to changing the system" and that his biggest responsibility is ensuring people follow it. He has also noted that the company targets renters, requiring that every community has at least 50,000 rental units within 30 miles. In public appearances and earnings calls between 2020 and 2025, Lipar has consistently cited strong demand for housing, attributing it to historically low interest rates and a pandemic-driven desire for homeownership. He has said that the company does not believe the market is in a bubble, arguing that the last housing bubble was caused by oversupply, whereas the current market has "a very low supply of new homes." Lipar has discussed the company's ability to pass rising material and labor costs on to consumers through price increases, and he has noted that LGI Homes raised prices in the majority of its communities in 2020 and planned to do so again. He has also described the company's growth strategy, including raising $50 million in private equity in 2010 and expanding into markets such as Arizona, Florida, and Atlanta based on opportunities in finished lots.