Real Property Professionals Versus the Amateur — The Difference is in Their Vision.
Property Development is an unusual beast.
Like the early caveman, we are forever on the hunt! We start by finding our feast, then preparing it, gorging on it, reposing in satisfaction and then realising to live, we need to do it all again.
Hopefully better, but not necessarily so.
Avoid the trap of thinking only about the immediate.
In property development, we generally start with a site or project in mind.
We then pour all of our resources into it to make it a success. Then with the proceeds we set about doing it all again. As our experience grows and especially our creditworthiness, we attract more capital and take on more ventures, sometimes simultaneously.
It is at this point we commence thinking we should be building a brand.
Building a brand pays dividends.
I say this behaviour is unusual as this runs counter to what a lot of our customers are looking for, particularly in off the plan developments.
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Even though our customers are after a place to live or invest into and the characteristics of the project are important, a major buying factor is the experience, reputation and trustworthiness of the developer. This is even more important to the downsizer buyer and empty nester.
It makes marketing sense to not only run a campaign around the development project that is being undertaken but also the entity that is behind the development.
As I like to say to my clients — “In the beginning of your property development life — the project is the hero”. Your development company simply takes up some space and gets free carriage in your marketing.
But as your company matures and your development projects get their runs on the board, the development company becomes the “hero” and the project benefits accordingly.
Nobody has done it better…
One needs to look no further than “TRUMP”, particularly pre- presidency, where the mere mention of his moniker in a project said enough to attract buyers. Hence Trump no longer even needs to do the development of the project but simply licence his name for a hefty fee.
The fruits of this brand building bare true at the tipping point of securing a new project (even in some cases at under offer stage).
A classic “coming soon by DEVELOPER NAME” campaign can be implemented and immediately it will begin attracting enquiry and buzz for the development, resulting in a substantial head start.
To achieve this, simply takes some early planning and foresight in the formative years.
I like to call it “getting your ducks in a row”.
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