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.
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