Three things you need to know if you're developing residential property in today's market
- The market has changed and as a result, you need to change or hold. Speed and agility are the new currency. If you think now is the time to do what your competitors are doing, you are wrong, you need to accelerate past them. You are being presented with two choices: Evolve or Repeat. It is no longer a case of the best player winning, now, it is a matter of the fast beating the slow
- Property development and sales is not a perfect process. Adapt, change, test and re-test, but, most importantly, do.
- The traditional model of residential sales marketing has changed; it has become very confusing. You need the right blend of old school sales techniques (face to face contact involving quality conversations) combined with new-school digital strategy (following your target audience everywhere they scroll).
Three things you can do to have an immediate positive sales impact on your projects
- Collect the data. It's at your fingertips and it will give you an understanding of your competitive edge so that you can exploit it.
- Segment to succeed, gone are the days for a one size fits all approach to your marketing and sales strategy. Dissect your projects into stock types that match different buyer profiles and create campaigns around them.
- Create a safety net around your sales team, and this will minimise the slippage of deals. A sales and marketing programme that automates tasks, measures effectiveness and keeps your team accountable.
Three emerging trends in the market
- Investors are slowly coming back, both locally and internationally, all chasing affordable stock
- Demand is up for one-bedroom apartments, and one-bedroom plus separate study room apartments. Interest has increased from both first home buyers and investors.
- Downsizers are the most active segment of the inner-city apartment market as they are less reliant on bank funding. There is a massive collation between walk score and project success when it comes to this segment, 200 metres can mean the difference between success and failure.
One thing you need to know about THREE SIXTYº PROPERTY GROUP
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