The most vital part of running a successful property development business is finding buyers. All the many aspects of real estate development — from buying land to marketing your building — are meaningless if you cannot sell your property at the right time.

While it all begins with purchasing the land or an unrenovated building at the right price, you will only be able to see profits once you start selling consistently. Unfortunately, this can be more challenging than it sounds.

It can take weeks and even months to find a buyer for a property. When this happens, you’ll be left fielding questions from various stakeholders regarding how you plan to make the sale. Here are some ways to generate interest and sell your property as quickly as possible.

Come Up With A Marketing Strategy

Underestimating the importance of marketing your development is a mistake. The right strategy can make all the difference between a property that is sold in a matter of days and one that you can’t get off your hands.

Marketing is important whether you’re a small local developer or a high profile national player. There are many ways to introduce your brand to potential buyers. Some tried and tested methods to promote your development is through informative websites, high-quality brochures and compelling advertisements.

Many developers are also finding success through newer marketing avenues like social media platforms and virtual home tours. This involves working with photographers, copywriters, videographers and graphic designers. If you’re wondering where to start, it’s a good idea to hire a marketing consultant who can come up with a strategy that is tailored for your business.

Use CGI To Promote Off-plan Sales

In the current scenario, it is becoming increasingly difficult to sell developments off-plan. Buyers are particular about what they want and have many options to choose from. They would rather see the finished product than make their decision based on a plan.

High-quality Computer Generated Images (CGI) can bring your plans to life. They help investors and potential buyers visualize the space better, even if it is still in the stages of initial development. Professional CGI artists work on architectural drawings to make them look lifelike. The process can be expensive, which is why some developers hesitate to use this tool. But top quality CGI can convince even the most skeptical buyers to find out more about your project.

Besides, you will be able to showcase these images in many of your marketing collaterals like brochures, magazine articles and your website. Along with using CGI to show potential buyers how the building will look, offer added incentives for investing early. This way interested parties will be motivated to make a decision quickly to get the best price and avoid missing out.

Showcase The Space By Throwing An Event

Whether you’re selling a residential or commercial property, a well-executed event can get the right people interested in your brand.

If you are trying to sell a commercial property, think about the kind of business that would be ideal for the space. Throw an event that caters specifically to such business owners and people who can give you the right referrals. Such events are typically much more successful at getting the attention of potential buyers than random gatherings. People in the same line of work are also likely to have much more in common, making your event a success.

Of course, this only makes sense if the property has adequate room to throw such an event. The last thing you want is too many people jostling about in a small space. In such cases, a traditional open house may be a better way to showcase the building.

Make sure that the people attending the event know that you’re sponsoring it and that the space is available for sale. During the event, mention what your company does, taking care to highlight the unique aspects of the property and its location.

Highlight The Salient Features Of The Neighborhood

To most people looking to invest in a property, the location is an important deciding factor. If it is a home they are in the market for, they may be seeking a quiet neighbourhood and good views. On the other hand, someone looking to purchase a commercial space probably wants it to be centrally located and easy to reach.

Remember that you’re not just selling the property, but the location as well. The neighbourhood the building is in is as important as the space itself. Mention the perks of the location in all your marketing materials. When showing the property to a prospective buyer, make sure all these features are pointed out. Talk about what the area is famous for, like restaurants, parks, nightlife, music venues and art galleries.

By doing this, you’re giving them the chance to visualise how purchasing the property would enhance their lives. It offers them the promise of a better future before they’ve even seen the building in person.

Final Thoughts

If you’ve been in the property development game for a while, you know that it is a fiercely competitive industry. You’ll need to make the most of all the online and offline marketing avenues available to set your brand apart.

The Internet has changed the way the real estate industry functions. It’s no longer about contacting a real estate agent who will show you a couple of properties. Buyers are savvier than ever and do a lot of research online before they are ready to even contact a property developer. This is why it’s so important for your business to have an active online presence that’s curated to show your brand in the best light possible.

The ideas and practices mentioned in this article are tried and tested ways to promote your developments and improve sales. Whether you’re looking to revive an old listing or are trying to sell a brand new property, these tips are meant to guide you in the right direction. It’s all about consistently networking, being active and engaging with potential buyers both online and offline.

Leonard Ross is an established property developer in Auckland, New Zealand.