Marketing is a crucial factor in the success of a condo development. Often, a strong targeted marketing campaign can make the difference between a full condo building and a half-empty one. As you develop a marketing plan, consider ways that you can address buyers' needs and anticipate their concerns about real estate and the economy.
Focus on Green Aspects
To attract environmentally-conscious buyers, create marketing materials that focus on the "green" aspects of your condo development. In your print, digital and on-air advertisements, focus on on the eco-friendly features of each unit and the development as a whole. For example, highlight the recycling pickup service, in-home composting system or solar energy panels. Mention membership in a green building group, support for sustainable power or plans to install a wind turbine to save money for residents, if applicable.
Pay the Difference
In times when the housing market may be in flux, potential buyers tend to wait and see if prices drop in coming months. To combat this uncertainty, the Builder Online website recommends that you address these consumer concerns by offering to pay the difference if prices drop. Set a time limit from the date of sale for the refund. In doing so, you will create confidence in buyers and eliminate a major barrier for sales.
If you can afford it, offer a promotional item with the purchase of a new condo. Make it a big-ticket item that will make a difference in the new buyer's life, such as a kayak, car, television service, grill or a flat-screen television. Alternatively, offer services that the consumer is likely to buy anyway, such as cable and Internet. By giving the buyers something that they would need to purchase once they move, you can sweeten the deal and come out ahead of competitors.
When you are creating the language for marketing materials and advertisements, stay away from empty sales pitches and avoid making promises that seem too good to be true. Instead, aim for transparency and honesty in your materials and your in-person marketing activities to create confidence in the minds of the buyer. For example, include a section on your website or brochure about the pitfalls of condo financing or provide the names of buyers' agents to help potential customers navigate the world of real estate.