How to market a new development

Robert Fraser, Managing Director of Fraser & Co., offers his advice. November 10, 2016 / Isla MacFarlane
How to market a new development

There are so many different factors that have to be considered when building a new scheme. Once a developer has identified a site, there are risks to reflect on, viabilities to assess, finances to organise, architects and planning advisors to consult, construction teams to put together, stakeholders to engage with – the list goes on and on.

All of these considerations come before the housebuilder has even contemplated a marketing strategy. However, the marketing of a new scheme is vital as this helps to reach the potential buyers and tenants – the people that are actually going to live there!

Developers now have many different ways to market their schemes. Online portals such as Rightmove, On The Market and Zoopla have made property more accessible to the public, while more traditional methods such as glossy brochures, advertising and events are still widely used by housebuilders to help bring their new homes to the attention of the consumers. However, an agent who understands the development they are selling is the most powerful marketing tool a developer can have.

There are so many elements to contemplate when marketing a new development; the type of properties – are they luxury houses or affordable apartments? – the local area, buyer demographic and price point to name a few. All of these will have an impact on how a development should be marketed and it is the job of a good agent to take into consideration all of these elements and come up with the correct strategy for a scheme.

The type of marketing that will work best for a particular development depends entirely on the target audience – it is imperative to reach the types of buyers that will be interested. Agents must have their ears to the ground and be in tune with buyer trends as well as every detail of the scheme they are selling – it is no use spending money on a marketing campaign targeted at the wrong audience!

Holding a sales event is a marketing technique which is often overlooked by agents, however, Fraser & Co has found this to be very effective. Not only do events help house builders showcase their new developments, they are an invaluable way of analysing a potential buyers’ interest in the scheme.

These types of events offer investors a chance to chat with the developer and agent, who can talk them through a model of the scheme or a mock show home. We find being able to talk through details with potential buyers in person to be priceless – this can be the difference between securing a sale for a new apartment and missing out.

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