Nothing says “welcome home” like a nail in your tire, painters scaling your balcony and concrete trucks at 6am. If this sounds familiar, you might have worked – or lived – on a new development. It’s not always glamorous, but seeing a property rise from an empty plot of dirt to a thriving community can be one of the most rewarding experiences you’ll ever have the chance to be a part of.
But in today’s flourishing world of new construction, it’s more critical than ever that PMC’s (Property Mgmt Cos) have a credible playbook; one that not only meets and exceeds owner expectations, but has the capability to set a new standard in the market. Everyone wants to be on the A-Team, and these are just a few of my tips to ensure you get there:
Make The Squad
It takes a special individual to balance the challenges of hard hat-hair and showcasing a home they can barely afford themselves. Mixing veteran talent with new blood has often been a successful strategy with my company in the past. They need to be dynamic and work as a cohesive unit – especially when the pressure is on. Not everyone needs to be a closer, but everyone does have to be a team player.
Use Your Megaphone
Your number one priority for marketing a new asset is to create buzz. Look to established businesses in your neighborhood and shake hands early. They often prove to be your prospects’ first source of information – the second being onsite signage and your website. Finalize your brand direction early and capitalize on a responsive landing page.
The Playing Field
Just because half of your community looks like a war zone, doesn’t mean potential residents need to feel that their lives are in danger. Make sure everyone – your onsite team, development associates, construction crew, contracted vendors, etc. – are held accountable for maintaining the tour path. No excuses!
Be Aggressive, B E - Aggressive
Sometimes it’s just all about the Benjamins (baby). But when it comes to luxury products – including your leaseup – it’s not. Sell value over price. Your community is offering a lifestyle, not a box with some kitchen appliances. Ensure your teams are well-educated on your location, local partnerships and activation of amenities.
The Secret Weapon
Follow up! Nothing new here, and yet it continues to be a struggle for most leasing teams. On a luxury community, you need at least eight prospects on average to net one lease. Repeated and varied communication is key. Handwritten notes, phone calls and emails are great…but texts and tweets are better.