Ideas for Marketing a Condo Development
By Nancy Wagner
When it comes to selling condo units, you must understand that your prospective buyers is interested in purchasing a home, not handing over their hard-earned money to pay back construction loans. Today’s buyer wants to feel good about his purchase, so building trust is key. To build that trust, you must find multiple ways to give prospective condo buyers all of the information and details you can provide about the development.
Offer an Incentive
Once you decide how your development differs from others in the area, offer a valuable freebie related to those differences. For instance, if your condo building is located near a slow-moving river, give away a kayak to buyers who close the deal. If your units are located near a biking path, give away two bikes so a couple can enjoy the trail. Give new buyers a barbecue grill for units that boast large patios or decks. Provide gas cards or bus passes when buyers must commute a distance due to the development’s location.
Set up both a blog and a Facebook page to build trust with potential buyers by sharing information, both good and bad, that helps them better understand the work that went into the development. Note how you listened to prospective buyers when you prepared the design and obtained the permits. Include lots of photos of the construction process, and show how decisions were made about placement of safety features such as alarms and sprinkler systems. If the units are not yet built, encourage prospects to follow the day-to-day happenings while the development is under construction to build interest and a following. Provide updates on move-in schedules, and don’t be afraid to explain delays in the project. Every time a unit sells in the development, blog about it, and post a message to Facebook.
Lots of potential condo buyers rely on the Multiple Listing Service, also referred to as MLS, to find properties they are interested in viewing. Rather than selling the development in phases to achieve your own sales goals, give prospects all of the information they want to feel good about the development. Include photos of every condo unit still available. Provide a Web address where people can view even more details about the development.
Encourage prospective buyers to provide their contact information when they check out the units. Send a marketing email to these prospects to provide updates on the development’s progress and to create a sense of urgency about getting in while units are still available. Provide links to your blog and Facebook page in the message to encourage buyers to learn more about the development.
Nancy Wagner is a marketing strategist and speaker who started writing in 1998. She writes business plans for startups and established companies and teaches marketing and promotional tactics at local workshops. Wagner's business and marketing articles have appeared in "Home Business Journal," "Nation’s Business," "Emerging Business" and "The Mortgage Press," among others. She holds a B.S. from Eastern Illinois University.