Category Archives for "Developers"

London Property developers: Increase sales and reduce costs

London property developers can reduce development sales costs

Many London property developers go to extraordinary lengths to recruit, train, and incentivise their own property sales people. Many entrust their off-plan sales with estate agents who talk the talk but stumble at the first hurdle.

London can be an exciting and profitable market for you; but if you hire the wrong people or work with the wrong agents, then selling your prime location London property could fall short of expectations.

Here I’ll look at some of the hurdles you face as a property developer in London. Working with Castlereach, London property developers could cut costs, reduce your stress levels, and give your sales the boost you’re looking for.

Working with estate agents – reality check

While not all estate agents are the same, many London property developers and elsewhere find the results they get simply don’t match up to expectation or promises made. The agents generally match home buyers with home sellers. New development sales are different. You’re selling a dream. A lifestyle goal. A vision. Most challenging of all, it’s not even built yet.

Many estate agents, especially when the market has been as hot as it has over the last few years, get lazy. A homebuyer walks into the office or makes contact by email or phone. The buyer views the property, agrees to buy, and the estate agent walks away with their commission.

That’s not selling, that’s facilitating.

Our property consultants talk to investors every day. We know where the natural buyers are for your prime location property in London. We know how much each investor has to spend, what their objectives are, and when they want to make their move. Knowing the buyer inside out is a big advantage when selling.

Running your own property sales team

Most significant London property developers have some sales resources in house – onboarding, recruiting and training an in-house sales team should be a far more productive route to selling off-plan in prime location London. They’ll inspire buyers or property investors with your vision. They help others to see how, as property developers, London is a key market for you, and you know your market inside out. If they’re experienced, your in-house sales team will have buyers eating from the palm of their hands. Therein lies the rub.

The chances are you’ll have to spend some time, money and effort educating and training your team. Time, money and effort that you could use elsewhere. They need to be coached to utilise strategies and processes that put them in a unique position – being your representative, but being the buyer’s advocate, their biggest supporter and champion. On every single property transaction, you’ll find some of this training has to take place by shadowing – you’re paying two agents to make one sale. Will the starter learn? Will they work out?

If you find a good salesperson, treat them well. If you get a great salesperson, wrap them in cotton wool and hold on to them tightly – or you might find you’ve paid all that money for training a star salesperson who goes to your main competitor.

Our property consultants have years of experience. They are seen as effective middlemen by both sides of the equation and for good reason. It’s because they are. They keep abreast of property news, property guides, and international property investors’ needs.

Our consultants advise property investors about your prime location property based on our own research and the merits of your development and you as a property developer in London. That’s a powerful combination of investment positives.

Work with Castlereach and increase property sales

When you work with Castlereach, London property developer in house teams don’t get slowed down, having their time burnt with endless negotiations on a property-by-property basis. We’ll put together a deal that works for you, your development and our investors. Importantly, the whole of our process is totally off-market so it won’t affect your other sales efforts. It’s a win/win/win.

We’ll be involved throughout, making sure that investors’ expectations are managed in line with your delivery capabilities. We progress each sale through to completion and take away a lot of the stress involved for developers. That’s just one of the reasons we’ve worked with more than 100 developers across the UK and sourced around £1 billion of new build and off-plan property for property investors at home and abroad. It’s a track record we’re right to be proud of, and one that property developers (London and elsewhere) add to with every collaboration.

Working with our team saves you the two most precious things in any London property developers’ business – time and money, as well as all the effort you would have spent on an extended in-house sales force. We buy off plan and new build property in volume with an approach that supports your existing sales and marketing strategies. You’ll generate momentum and be able to adopt different pricing strategies as your units sell as our investors step into secure your scheme and reduce your financing costs in London.

To create added value to your existing marketing efforts, call us today on +44 207 923 5680. We have investors ready to make a difference to your scheme and take your sales to the next level.

Live with Passion and Fun,

Brett Alegre-Wood

The Challenges facing property investors and new build property developers

Understanding needs of new build property for sale

New analysis from Yorkshire Building Society suggests that the undersupply of new home developments might be worse than previously feared. The UK now needs more than one million new homes. For property investors and new build property developers, this is a reality that promises profits and security though it’s not without challenges.

Here, I look at some of these challenges faced by new build property investors and developers with new build property for sale.

It can be hard for property developers to work with councils

For many new build property developers, working with local councils is challenging. One major problem is that councils don’t necessarily have the control they need to allow sites to be offered to developers. The best sites always come online eventually, but if you wait for this to happen, you could miss other, more profitable opportunities in the meantime.

Central government is beginning to devolve funding to local authorities. Manchester, Liverpool, and the West Midlands are cases in point. These authorities now have billions that were previously controlled by central government. As this devolution increases, so will the ability of councils to control housing funding. They’ll be given the freedom to develop public land that is surplus to requirement. This should help new build property developers to purchase the best land to develop more quickly. When this happens, there are even better opportunities for property investors searching for new build property for sale.

To succeed, new build property needs infrastructure

The millennial generation is more mobile, more agile in their work, and returning to renting as a lifestyle option. When you rent, you have the ability to move jobs. You’re not tied to a single location because of home ownership. Millennials are also less inclined to be car owners. They are more prepared to use public transport.

Property investors are therefore more interested in new build property for sale that offers lifestyle benefits. Apart from modern appliances, secure buildings and WiFi, the real issues centre on infrastructure:

• Does the new build property for sale benefit from being close to a transport hub?
• Is it easy to travel to and from work? To go on holiday?
• Are amenities close, such as retail and leisure facilities, restaurants and nightlife?

These are issues that will probably make or break for new build property developers, too.

The financing issue for property investors and new build property developers

Since the Global Financial Crisis, financing has become more difficult for new build developers and property investors.

As a developer, access to a bank of high net worth investors is essential. You’ll be able to take advantage of the desire for investment in new build property for sale. Off-plan sales should increase cash flow and make financing easier.

As a high net worth property investor, you’ll have the funds to benefit from the very best offers from new build property developers.

Trust nd confidence is essential for both parties

Trust is a key principle in the business of off-plan sales of new build properties.

As a property investor, you’ll want to know that you are dealing with a reputable new build property developer. You will expect to see a track record of successful completions and be kept informed of progress.

As a property developer, you’ll want to know your early off plan property investors are genuine, long-term investors. You’ll benefit from payments made when they are due, on schedule, without fuss.

Castlereach squares this circle. We have a large and continually growing bank of investors from around the world, actively searching for quality new build developers to buy from. For developers, our sales process is under the radar and off-market, not interfering with their own sales channels.

As a property investor, you’ll benefit from our expertise in working with the best new build property developers and our research capabilities.

As a property developer, you’ll benefit from our extensive reach and unique client contacts.

Contact us today on + 44 207 923 5680, and we’ll be happy to discuss the help and expertise we can offer you as we link the best developers with the best investors.

Speak soon,

Martin Sadler

5 sales skills needed to boost off-market property sales

What ability does your selling partnership need to sell off-plan units?

There’s a reason why estate agents sell bucket loads of existing homes and far fewer new builds: the process of selling is different. When it comes to selling off-plan units, a more comprehensive property marketing framework is needed. And with off-market property sales mostly made to investors – tending to be a harder sell than new builds to homebuyers – different negotiating and communication skills are used in the sales process.

Here are five of the sales skills we insist our agents embed in their armoury:

1. Listening to and understanding the property investor’s needs

The agent needs to listen to what the investor is saying, and use appropriate open and closed questioning to drill down to exact requirements. Then it’s a question of presenting the off-plan units in line with those needs.

2. Communicating concisely with clarity

The agent will help the investor see how the off-plan units for sale can fit needs. The agent must have the communication skills to sell the vision – off-plan units may be no more than a drawing, and taking that drawing and creating the full picture is an art. The investor needs to be inspired not only by the property for sale, but by the development, location, and nearby amenities.

Photographs of previous developments help give the investor the vision of what the developer is capable of producing.

3. Know how to sell the product

Off-market property sales are different to sales of existing homes because there is more emphasis on selling the product. It’s not the same as ‘getting into bed’ with a homebuyer: new build off-plan units are sold by selling the product, lifestyle, and investment potential.

4. In-depth product knowledge

An estate agent, who is selling homes, is really matching a buyer up with something that is already there. To be successful in off-market property sales, the agent must know the product inside out, back to front, and upside down. They need to be able to explain all the options available.

They also need to know and understand the terms and conditions applied to sales contracts and have the ability to answer queries and combat objections immediately.

5. Negotiating skills

Finally, the agent will need to use all their negotiating skills to close the deal, offering low or no-cost options to encourage investment while helping the buyer to move through to completion.

Our team is not only experienced in off-market property sales but also benefit from the comprehensive continuation of personal development and focused product training for every development sourced and offered to the waiting investors. Feel free to give the team a call on +44 207 923 5680 and find out how our experience and specialisations can benefit your development and increase sales of off-plan units.

What’s the most important skill in your view?

Live with Passion,

Brett Alegre-Wood

How to drive demand for your off-plan units

Innovative strategies for higher off-market property sales

Developers wanting to drive off-plan property sales up to and above their sales targets need a few key elements in place. A  well organised and well orchestrated property marketing framework is key and as is being innovative in the sales process. This is especially true when the developer wants to kick-start a new development and drive demand for property with off-market property sales.

There are a number of tried and tested marketing strategies used to promote off-plan units. This includes blogs, property investment seminars, reaching out through social media, early-stage site tours and rebranding. Here I want to look at three of these in a little more detail. You never know, one of these could be the spark for you to create a new, innovative off-market property sales strategy – especially if you have a strong USP, too.

Sell sustainability

In this age of green and clean homes, sustainability is a key selling point for many investors and homebuyers. Often, the green features that complement a new home are expensive. If you can offer sustainability and source green fixtures and fittings in bulk, there is no reason why you shouldn’t sell value by taking a different approach to the sales walkthrough.

Why not encourage would-be investors to come behind the scenes, visiting the development site with off-plan units at various stages of completion? Perhaps even invite them to meet with suppliers (who are experts in their own products – use them to sell the benefits of sustainable green homes) and your off-plan property sales will react accordingly.

And the USP? Affordable, efficient and sustainable lifestyle. That’s your angle.

Selling a new concept

Homes are getting smaller, and people are living closer to where the action is. Yet, at the heart of a home is the need for it to provide adequate space for its inhabitants. The New Home Company in the United States has been innovating design for living for a while and has been successful in predicting and even leading lifestyle trends. The latest concept is the ‘family office’, a space that is digitally connected and provides plenty of storage space and desktop work surfaces.

The company was first contracted to provide a family office for a client, and from there it floated the idea to focus groups before rolling out as a flexible design feature.

And the USP? It involves the interior design company early in the process of off-market property sales, with investors able to meet and speak to its representatives and better understand the benefits.

Reaching out to the audience

When investing in off-plan units, investors want to feel fully informed. What better way to produce educative material across a variety of channels – blogs, social media, and trade and local print media.

Investors and homebuyers often have a mental block when it comes to buying new property versus old. They just don’t get the benefits of buying new. By producing articles, blogs, eBooks, and being active on social media, you can set yourself apart as the expert in the new build before the real business of selling off-plan units begins.

And the USP? People identify with an expert and discuss the merits of off-market property sales with others. Soon, you have an army of self-declared experts marketing by word-of-mouth.

These three ideas are just a few of the ways in which developers are connecting with investors and promoting their off-market property sales. When we discuss marketing with a developer, we’ll always look for the USP that will make their product stand out from the crowd − and then we can market off-plan units in the best way possible, to maximise off-market property sales. Feel free to contact the team on +44 207 923 5680.

Live with Passion,

Brett Alegre-Wood

7 off-plan property sales tips to create a sales tsunami

Create buzz to generate off-plan property sales

You’ve got a great product to sell: state-of-the-art units in a prime location. This, though, isn’t enough to guarantee a momentum of interest from homebuyers and investors. What you need to do is hit the ground running with a property marketing strategy to create a tsunami of interest that will drive sales.

The experience we’ve gained by working with developers for more than a decade is that a property marketing strategy is the key to success. Here are seven tips that act as a framework for the business of off-plan property sales.

1. Know your target market

Your target market will determine the language you use in your marketing materials, and the emphasis you place on the various marketing channels. It might also impact your choice of sales partners. The sooner this work begins, the better your handle on potential sales will be.

2. Brand your product

Create a unique selling point (USP) relevant to your target market and attention grabbing. It is this that will make you stand out from the crowd and generate interest in your off-plan property sales.

3. Match your property marketing strategy to design

Thinking about your target market and product branding, next create a consistent style to work across all marketing channels. This will confirm your brand and intent. Each marketing channel is like a piece of a jigsaw: when all the pieces fit together, the picture should be a complete interpretation that entices buyers to take a second and third look.

4. Identify your materials partners

You’ll need artists, writers, photographers, and a whole range of other creatives. Identify those that provide real value for money, and that can work with your vision. These are neither likely to be the cheapest nor the most expensive providers – remember, though, as a general rule you get what you pay for.

5. Combine online and offline sales channels for maximum penetration

With a consistent style and message, utilise all available sales channels for maximum penetration. Consider where you will find your target market, and budget your resources accordingly. Understand that your target market is likely to be found reached through several channels – online, blogs, websites, social media, and traditional marketing routes.

Remember that off-market sales will be developed differently. These will be promoted under the radar, to a list of investors who are ready and waiting to buy into the best opportunities.

6. Partner with sales experts

Choose your sales partners carefully, paying attention to the experience of selling similar the product to yours, and to the same target the market. They’ll offer you access to market, with a list of prospects within your target market and a proven property marketing strategy.

These partners are likely to be able to help inform your property marketing strategy, so explore their expertise and employ it to its best advantage.

7. Launch big!

Launch all your marketing efforts simultaneously. You’ve got all the ingredients; what you need now is a big fanfare to hit the market with a bang and draw all the attention to your off-plan property sales. Like a birthday cake being taken to a table in a restaurant, all eyes from every sales channel should be on you.

With this seven tips in place, you’ll be perfectly positioned for your off-plan property sales launch to penetrate the market and reach your target audience (including foreign investors) at breakneck speed. Of course, a property marketing strategy framework is simply that: a framework. You’ll need to customise to maximise performance. And maximising sales potential begins with off-market sales. Feel free to contact us today on +44 207 923 5680.

Live with Passion,

Brett Alegre-Wood

Five tips to make your off-plan property sales strategy take off

How to come out on top in the competition for off-plan property sales

It’s vital to give off-plan property sales the largest chance of hitting objectives by creating an off-plan property sales strategy that is both proactive and responsive. Of course, you should also be seeking to improve results by iterating the strategy to connect best with homebuyers and property investors. Here are five tips to make sure off-plan property sales take off as you expect them to.

1.    Set your goals, objectives and targets

What is it that you can realistically hope to achieve? While it is easy to think solely in terms of the number of off-plan property sales, this should not be the be-all and end-all here. You’ll want your sales and marketing strategies to increase visibility, extend your reach, and appeal to target demographics.

2.    Consider multiple channels

Focussing solely on a single sales channel, or a single off-plan property sales strategy will limit the ability to hit your target numbers. Consider who the target market is, and where they are to be found. Homebuyers and property investors speak in different languages, visit different online and bricks-and-mortar resources, and get excited by different things (capital growth and yield versus kitchen appliances and landscaped gardens, for example).

While an invite-only educational property investment seminar is a powerful tool to speak to dozens of property investors simultaneously, a show house open day is more suited to individual first-time homebuyers.

3.    Get the right partners on board

If your off-plan sales strategy is to work, you must chose the right partners to help you promote your development. Of course, you’ll need these partners to be experienced and provide routes to your target markets.

They should be able to demonstrate a close affinity with and understand their clients, and add value to the proposition (perhaps by educational and research resources, for example) and advise you on strategy. Finally, select partners that are passionate about performance: these are the guys on your team that go the extra mile for you.

4.    Monitor performance

Put in place discerning metrics to measure performance against your objectives, and the goals set for you and your partners. Stay in constant communication, and measure off-plan property sales against expectations. If you don’t have monitoring metrics and processes in place, then don’t expect to see the early warning signs that off-plan property sales are going to fall short.

5.    The first cut is the cheapest

Having devised your off-plan property sales strategy in conjunction with your partners, it is not unreasonable to expect great results. However, if they do fall short, then it may be you need to cut your losses and seek a new partner. The first cut is the cheapest, and it is a lot easier to find new partners in unmuddied waters.

For more sales strategy tips, or to discuss your specific expectations,chat with the team on +44 207 923 5680.

Live with Passion,

Brett Alegre-Wood

How property investment seminars benefit developers

The weapon to propel off-plan sales

When we work with a developer and take on a number of units, we’ll already have done a lot of work behind the scenes. Our property investors understand that we have already conducted several rounds of intensive research and due diligence before we agree to offer a developer’s properties to them. So when we run special property investor events, such as property investment seminars, we generally present to packed houses.

However, it’s not only the numbers of investors we attract that benefits developers looking to sell off-plan property. How seminars benefit property developers depends upon the strength of the company running them, and the presentation made to property investors – especially when selling off-plan properties.

Why educational seminars work best

Our educational seminars are specifically aimed at encouraging the property investor to make a purchase. We can combine seminars with our off-market strategy, guaranteeing that you won’t see your properties listed on online portals and sales channels. Our property investors know that when they attend a property investment seminar, they’ll be shown exclusive deals. But we give them so much more, which reflects on the property developer with whom we’re working.

Here’s how property investment seminars benefit developers:

·      We present the latest up-to-date research

Taking a top down approach, we help property investors understand the macroeconomic environment and then drill down into the fundamentals that make the location offering not only strongly viable, but also unique in the market place.

Our research teams cut through the data and noise surrounding the investment and produce in-depth analysis concerning the market today and going forward.

·      We offer help in the process of property investment

We’ll offer a helping hand by explaining the benefits of investing in off-plan property and how it differs to investing in previously owned homes. We talk about houses versus apartments and target tenants. We’ll also have experts on hand, with decades of experience in every facet of property investing.

·      We provide local knowledge second to none

As we drill down to local markets and issues, we’ll discuss the demographics and local fundamentals that make the area a strong buy and great long-term investment.

·      We offer the chance to network with other investors

One of the most important aspects of our seminars is the chance for new beginner investors to meet with other, more experienced investors, who have already benefitted from our approach. They know our incredible track record, and help our educational seminar sales by reinforcing this.

·      Finally, we provide the gateway to investment

By the end of the seminar, we get to the point where we really answer the question new investors will be asking: how property investment seminars benefit developers. We become the natural gateway for the property investor to buy off-plan property from the property developer.

To discuss marketing strategies that really sell, and to reach our rapidly growing investor base, contact Castlereach today or call the team on +44 207 923 5680.

Live with Passion,

Brett Alegre-Wood

6 steps to successfully launching off-plan property sales

Creating an off-plan property sales strategy that you can rinse and repeat

The success of a development project often depends on upon its off-plan property sales numbers. This gets the ball rolling, as it were, introduces real cash flow into the project, and helps to finance the ongoing work that needs to be done to see outcomes met and the project completed on time and within budget.

An off-plan property sales strategy that is designed specifically for launching off-plan property sales is the key to a strong, solid opening and seeing further sales follow through. When you plan your launch with an experienced partner, the sales numbers will increase accordingly. Having executed successfully, embed the process into your sales regime and you’ll find it is easy to rinse and repeat and stay within marketing budgets.

The secret formula for launching off-plan property sales

In reality, marketing starts before even laying the first brick. A successful off-plan property sales strategy begins in the very early stages of the development process. From there, the off-plan property sales launch has a known lifecycle:

1.     Meet the needs of the local market

Imagine how NASA approaches a rocket launch. It doesn’t simply build the rocket, load it with a few astronauts and press the red button. The first thing that happens comes way before the rocket is designed: NASA assesses the need for the launch and how it can best meet that need.

Think about marketing before you develop. This necessitates knowing the local market, what housing needs there are, and the likely demand for each type of home built. This is the first step in ensuring that there will be strong investor demand and that off-plan property sales are received positively by awaiting property investors.

2.     Send the right marketing message

By linking the marketing message to local market needs, you’ll remove confusion. Off-plan property sales need to be positioned correctly so that the property investor knows what is being bought and that the property he or she is buying meets the needs of the local market – in other words, it is rentable.

A strong, clear marketing message communicates the very real value of the development to property investors with a strategy that takes advantage of off-plan property sales.

3.     Set goals for off-plan property sales

Have a clear target for sales numbers, and build the off-plan property sales strategy around these objectives. This will help to develop marketing methods and keep your campaign on track. Don’t forget that a sales partner should have the capability to capture details of prospects and then onward market to them post-sales events.

4.     Leverage the power of sales partners

Choose your strategic partners carefully, selecting those with a great track record and active base of property investor clients. These are assets that can be leveraged to provide maximum value added to off-plan property sales. Ideally, your partners will also demonstrate the ability to reach out further, with their own strategic partnerships that multiply the power of the direct leverage.

5.     Pre-market selectively and subtly

By this stage of your off-plan property sales strategy, you will have almost everything in place to ensure objectives are at least met. This penultimate step is about creating buzz. Involve sales teams, partners and press to begin the process of subtle marketing. Place strategic and discreet publicity, and be selective in what details you digress and to whom. The idea is to create just enough interest to whet appetites and maintain curiosity.

6.     Time the off-plan property sales launch

Timing is important. Take care to avoid big events that may divert interest, public and religious holidays, and customary holiday periods. Consider your target market, and ensure that the launch will create only good feedback.

As an example of an event that might form part of your off-plan property sales strategy, you might decide to launch at an educational property investment seminar, presented to a select audience of property investors. This can provide the feeling of elitism, which will guarantee positive public promotion of the development: and that is advertising that money can’t buy.

The off-plan property sales strategy is a process, not an event

Setting goals for off-plan property sales and achieving them is a process, not a single event. While the outside world may believe the launch to be the fanfare of publicity, the truth is that a successful off-plan property sales strategy is a carefully orchestrated process, building steadily to the crescendo that guarantees sales.

To discuss marketing strategies that sell, and to reach our rapidly growing investor base, give the team a call on +44 207 923 5680.

Live with Passion,

Brett Alegre-Wood