Category Archives: Sales and Marketing

First impressions are lasting ones

Posted on June 24, 2010 by | Leave a comment

By: Jessica Weston

In this challenging economy, we struggle to provide marketing ideas and outlets that reach our audience both directly and cost effectively.  But, just as important as marketing outreach is the first impression our communities give these buyers once they are in the door.  One of the most important marketing tools is the property itself and how it is represented by its model homes.

We have found that modeling a home or condominium floorplan allows the buyer to better visualize the space and to see how they can actually live in the home, and is a marketing investment worth making.  Developers are now very considerate of maximizing the space of their floorplans and want to showcase the great value and live-ability of their homes.  By doing so, certain floorplans that weren’t appealing as empty units feel comfortable and conveniently laid out when properly decorated.  Buyers can then visualize their life in that home.

We have had much success with model homes at our properties.  Gallery Residences had a 2 BR + den floorplan that hadn’t sold in years.  Modeling that floorplan and showing what can be done with the den space resulted in 8 sales of that particular plan in less than 6 months.   At 1010 Midtown, a floorplan that had not sold at all was modeled.  Within 5 days of completing the model, the property received a contract on that particular floorplan.  At 10 Terminus Place, one of the models has moved 4 times in the past 9 months because each time a floorplan type is modeled, it sells.

Given this, it’s not just marketing outreach that results in qualified buyers and therefore, sales.  It’s also making sure the homes are appealing to the target demographic.  Making floorplans feel like home, rather than an empty space makes a huge difference in the buyers’ minds.  Model homes give a much better first impression than an empty one, resulting in happy buyers, and therefore, happy sellers!

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Posted in Sales and Marketing

Market Response during the last 18 months!

Posted on June 8, 2010 by | Leave a comment

By: Brad Horner

As we approach the mid-point of 2010, I recently took the opportunity to sit down with Susie Proffitt of The Florida Home Show and Atlanta’s Best New Homes to talk about how our company, our clients and consumers responded to the real estate market during the last 18 months.  

Though economic factors continued to impact the industry and create apprehensions and obstacles for potential home buyers, many of our diverse developer, bank and institutional clients were still able to buck trends and increase qualified traffic and, more importantly, sales.  In the below video, Susie and I discuss how NRT Development Advisors helped them to do so by creating and executing innovative, results-driven marketing and sales strategies, including repositioning, partnerships, events, social media outreach and more.

I invite you to take a few minutes to watch the below video (by clicking on the image), which offers insight regarding how to approach the current market and includes video of the beautiful homes we have the privilege of representing.


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Posted in Bank Owned, Company news, Market data, NRT Development Advisors, Real Estate, Sales and Marketing, Value of a home

When Selling Your Home, Consider a Different Approach

Posted on May 6, 2010 by | 1 Comment

By: Bob Romano

When selling your home, consider a different approach to reach your goal. Many home owners today want to move up, down or out of state to improve their lifestyle. Unfortunately many find themselves in a dilemma, their existing home is not worth what they feel they need to make the move. Market conditions on average have effective home values in Georgia 22%, that’s a lot of value and for many it creates a situation that only time will fix. But for those with equity in their home, who are stuck because of the loss of value, thus preventing them from finding a great deal on a new home, there is a solution. However, it does require a paradigm shift. Consider the approach of analyzing the net effect of selling your home at market value and buying a new home at a considerable discount, the net result should pay dividends. Price your existing home to sell in today’s market and go find yourself a equal or better value on your new home, any loss you may incur on your existing home can easily be recovered on your new purchase. Hire a professional to analyze your particular market and price your home to sell, and then get out and find an even better deal.

Keep in mind this is without a doubt the best time to buy a home I have seen in my 25 years in real estate. Don’t let it pass you by.

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Posted in Market data, Real Estate, Sales and Marketing

Mosaic at Millenia experiences surge of investor sales in Q1 2010

Posted on April 27, 2010 by | Leave a comment
Securing multiple purchase contracts per week is a trend that has not been seen in Orlando’s residential real estate market in quite a few years, but it is quickly becoming the norm at Mosaic at Millenia, where Coldwell Banker NRT Development Advisors manages marketing and sales.  Most notable about the sales is that virtually all of the buyers are cash investors, pointing to a return of the real estate investor market in Orlando, which abruptly went from being one of Forbes’ top 10 U.S. real estate markets for investment in 2008 to having one of the highest housing vacancy rates in the U.S. in 2009.  
 
Coldwell Banker NRT Development Advisors ignored traditional real estate marketing practices to sell the units and instead tapped its global network of brokers to identify target buyers.  It didn’t take long to spread the word about Mosaic at Millenia’s uncommonly high occupancy rates, plentiful selection, quality construction and realistic pricing, as well as Orlando’s strengthening economy, before NRT Development Advisors received a surge of contracts.  In the past two months, Mosaic at Millenia experienced a level of investor interest that Florida hasn’t seen in years, possibly pointing to the beginning of a local – or event statewide – market revival.
It seems as if international investors are itching to get back into Florida’s real estate game.  While they may be much more exhaustive when analyzing today’s purchases, these cash buyers are clearly not afraid to jump on sound investments when they see them – as evidenced at Mosaic at Millenia.

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Posted in Investors in Florida, NRT Development Advisors, Real Estate, Sales and Marketing

Coldwell Banker NRT Development Advisors leads Atlanta luxury condo sales in Q1 2010

Posted on April 12, 2010 by | 1 Comment

By: Brad Horner

Though local housing experts predict that Q1 2010 might mark the new housing bottom following the three-year downturn, Coldwell Banker NRT Development Advisors experienced an increase in qualified traffic during the quarter and lead Atlanta’s luxury condo sales at the luxury properties ($500,000 and up) it markets and sells on behalf of builders, developers and banks.

Two condominiums with the strongest sales volume in metro-Atlanta include Gallery Residences and 10 Terminus Place - at which Coldwell Banker NRT Development Advisors manages sales – because they offer these highly coveted buyers more than just a home; they also offer an exceptional lifestyle.

Gallery Residences, the 27-story Buckhead condominium, features upscale amenities including 24/7 concierge service, an onsite art gallery, panoramic views, a state-of-the-art fitness facility, a tennis court, a fully-equipped business center, furnished guest suites and more.  And, 10 Terminus Place, the 32-story mixed-use development at the intersection of Peachtree Road and Piedmont Road, is known for its conveniences such as spa and massage services, access controlled parking, a fitness and yoga center, a saltwater pool and spa and porter service.

For such high-end properties, Coldwell Banker NRT Development Advisors utilizes the expertise and experience of the company’s Coldwell Banker Previews International marketing platform to create tailored messaging and positioning campaigns.  As a result, the company has continually increased its sales pipeline throughout 2010, illustrating a very active segment of the market that is focused on superior location, quality construction and value.

It is clear from Q1 activity that as consumer confidence continues to improve, upscale buyers will increasingly return from the sidelines and take advantage of the extraordinary opportunities available in today’s market.

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Posted in Company news, Condo, Real Estate, Sales and Marketing

To Buy or Not to Buy

Posted on March 14, 2010 by | Leave a comment

By: Holly Rabits

The pendulum continues to swing back and forth with regard to today’s real estate market and economy. One month sales are up, prices are down. The next month, the prices are up and sales are down. Still, based on an overall year to date comparison, according to the National Association of Realtors, things are beginning to improve and hopefully employment will follow suit.

Florida which ranks in the top 3 of distressed markets in the United States is also beginning to see a shift. One would hope so, as in my 30 years in real estate, I have never seen prices or mortgage rates at this level. Opportunity knocks and then there is the proverbial “BUT” in the equation.

While mortgages are being offered at wonderful rates, the qualification process both for the buyer and the property are getting more stringent. Changes are happening literally every day. A buyer can purchase an entry level home or condominium in areas of Florida for as little as $20 to $30,000 dollars. Higher end homes have slashed prices 50% or more to try to generate interest.

The tax incentive which expires in April has been a key component to driving entry level, owner occupied sales. There are now opportunities for existing owners to receive a tax credit as well, once they sell their home, at a below market price. Still, the opportunity is great to purchase more for less.

With this said, inventory is lower and absorption is gaining BUT there are still more foreclosures coming to market which will affect pricing.

Hopefully loan modifications will become more effective and people can hang on to their homes which will help in terms of stabilizing and improving the Florida market.  This will take many of the foreclosures and short sales out of play which will reduce inventory and strengthen demand, as well as raise prices!

It’s a slow boat but the ship has definitely left the dock and if you are considering a primary residence or second home in Florida. Now is the time to get serious.

Ask lots of questions, inquire about condo HOA’s and percent of developer rentals as well as the percent of investor owners. Make sure the HOA is not more than 15% in arrears. These are part of the perimeters that qualify a condominium for financing. Be prepared to have your financing in order before you purchase or have verifiable cash. Always inspect the property with a licensed inspector before closing. Check out national real estate websites. They offer great information.

Last but not least, contact a REALTOR to guide you through the buying process. We at CBNRTDA are here to help and know the rules to make your purchase easy and worry free.

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Posted in Bank Owned, NRT Development Advisors, Real Estate, Sales and Marketing

Friday Five: How to share your company’s messages where your potential buyers currently congregate – on Facebook

Posted on March 12, 2010 by | 1 Comment

Virtual Views is starting a new column titled, “Friday Five,” which is an informative quick read that gives you the top five points on a particular real estate-related topic – including trends, neighborhoods, industry changes and more.  We’d appreciate your feedback.  What topics would you like to hear more about? E-mail us and we’ll include it in a future Friday Five.

By: Brad Horner

Of Facebook’s 300 million users (making it the largest social network on the Web), an estimated 175 million of them log onto Facebook each day.  And that staggering number doesn’t even include those using Facebook Connect.

Builders and developers cannot afford not to have a presence on Facebook, especially considering that 90% of homebuyers start their home search online.  Facebook provides an unprecedented marketing opportunity to share information about your development on a social network where your potential buyers are already congregating.

But there are clear rules by which you need to abide in order to be seen as a trusted source of useful information and not an annoying spammer.  Here are our top five hints about how to utilize Facebook as part of your development’s comprehensive marketing program:

  1. Facebook and corporate Web sites have very different rules and languages.  While it’s expected that a company’s Web site will contain very sales-y language, that type of language is not used – or tolerated – on Facebook.  Instead, use an entertaining conversational-style tone on Facebook and offer compelling information.  Do not – I repeat – do not solely promote your brand or product.  Consumers don’t want the same door-to-door salesman knocking on their doors every single day pushing company messages, and they don’t want to see companies doing the same on Facebook.  Instead, offer a mix of fun information about the neighborhood, informative updates about the real estate market and links to articles of interest, in addition to information about your development’s latest offerings.  Truly engage with your fans.
  2. Facebook’s advertising opportunities provide a way to share your message with an extremely targeted audience for a very reasonable price.  Unlike most advertising vehicles, Facebook allows you to target your exact demographic by identifying the age range, location, interests, employment status and more.  Use these ads to promote limited-time deals, special events and the community’s unique amenities.
  3. Take advantage of the many ways you can tailor the company’s Facebook page.  Of course, include links to your Web site and blog and upload photos of model homes and events.  But there are also applications that will allow you to post virtual tours, collect contact information for future communication, automatically upload new blog posts and post presentations.
  4. Fully promote your events on Facebook by including photos, videos, directions and links to helpful information.  And when fans RSVP via Facebook to an event, it shows up on their wall, thereby exposing the event to additional networks.
  5. Take advantage of Facebook’s Insights.  Regularly monitor your fanbase and page interactions.  How quickly is your fanbase growing and what is the demographic breakdown?  Are you losing fans?  What links/photos are being clicked the most and how can you use that information to tailor future posts?  What type of updates prompt the most feedback?

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Posted in Friday Five, Sales and Marketing, social media

Equitable price/value relationship

Posted on March 11, 2010 by | 1 Comment

By: Maria Mena

In today’s economy, everyone seems to be focused on price. You can’t open the newspaper, your mail or your e-mail without being bombarded with the deal of the day, the month and, in some cases, the deal of a lifetime.

And no other industry has been more impacted by the focus on price than real estate. Which I find funny, actually, because since the beginning of time, the 3 most important evaluation criteria for a real estate property have always been location, location, location.

While location continues to be a critically important aspect of the successful marketing of a property, an overwhelming percent of today’s buyers are shopping price first and neighborhood second. People on the hunt for deals are crisscrossing cities to find the “right priced home.”

But a competitively priced property alone will not make the sale. While this may sound contradicting it is actually at the heart of selling any product.

The reason revolves around the need for products to have an equitable price-value relationship. Whether it is real or perceived, the relationship must be equitable or the sale will not close.

It is only when value is perceived to equal to or greater than price that the consumer begins to buy. The absolute price doesn’t really matter in this equation. This is not about affordability. It is more about reasonable, sound and understandable value.

For instance, NRT Development Advisors helped The Stacks promote a sale on one of the community’s studio homes.  The attractive price point helped to bring qualified buyers to The Stacks, and the studio quickly sold.  But it wasn’t price alone that sealed the deal, as other nearby communities were selling larger homes at lower prices.  The Stacks team helped the buyer to see the studio’s full value that was included in the price, which included lower HOA dues, a stabled and established Homeowners Association, a strong sense of community among the current homeowners at The Stacks, walkability to restaurants, true loft living with original brick walls and more.

First and foremost, the purchaser must understand what’s inside the deal. It is only then that value can be assessed. It is for this reason that it is critical for any sale to fully explain what is included in deal including the location advantages.

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Posted in Sales and Marketing, Value of a home

How do you invest in real estate when the asset value is in free fall?

Posted on March 1, 2010 by | Leave a comment

By: Alec String

How do you catch a falling knife? You don’t, if you’re smart, you pick it up off the ground.

How do you invest in real estate when the asset value is in free fall? Here is the good news: the ground or bottom may now be in place.  Over the past year many persons have been investing in real estate and have found their purchases to be good investment decisions. Moving forward buying now will still lead to a wise real estate investment! Take advantage now!

According to The Case-Shiller index of average home prices in 20 major cities, prices have not only stopped falling but have increased seven straight months on a seasonally adjusted basis. This sentiment is echoed by many real estate brokers that also believe pricing has stabilized and buyers’ confidence in the value of real estate has started to return.

However, we should expect a bumpy ride as foreclosures continue to add inventory and further challenges to the housing recovery continue.  Therefore, it is always wise to choose a sales and marketing company that understands the reality of the market.

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Posted in Sales and Marketing, Uncategorized

4Q2009 Quarterly Review of Metro Atlanta just released!

Posted on February 28, 2010 by | Leave a comment

By: Brad Horner

Welcome to the 2009 Annual Review edition of The Development Advisor, our quarterly report of the metropolitan Atlanta residential market. This report utilizes data based on transactions that closed in 4Q09 and compares it to that of 4Q08 as well as 1Q09, 2Q09 and 3Q09. We have compiled much of our information from our proprietary Universal Data Base, a system that pulls data for the entire metropolitan Atlanta market from both FMLS and GAMLS, deleting any duplication.

As we begin a new decade and look back over the past few years, many of us are relieved that one of the most challenging times in Atlanta real estate may be behind us. Overall, the results in the fourth quarter continued the improvement over the low points established in 4Q08 and 1Q09, signaling further signs of a slow recovery.

Similar to the third quarter of 2009, we continued to see mixed messages indicating a possible long awaited turn in the market. Absorption levels increased for new condo/ townhomes, but decreased for new single family and both types of resale. Average sales prices for new and resale condo/townhomes increased while prices for new and resale single family decreased. Even though sales prices are down overall compared to 4Q08, we have seen a light at the end of the tunnel with resale single family up 0.9%

The most significant news lies in the fact that current inventory levels continued their year long decline in 4Q09, with a 25% decline in all active listings compared to 4Q08. With building permits at historic lows and very little new construction condominium/townhome inventory being delivered in the foreseeable future, there was a 41.5% decline compared to 4Q08.

The extension of the tax credit and the expanded tax credit for current homeowners, combined with historically low interest rates and the second highest affordability index have created the perfect time to take advantage of homeownership. However, the pressures of high unemployment, difficulty in obtaining a mortgage, foreclosures and short sales continued to play a significant role in the uncertainty of the overall market’s improvement.

We hope you will find this edition of The Development Advisor informative and useful. Today’s market is unlike any we have experienced in the past, making it even more important to work with a sales and marketing partner that has a thorough and complete understanding of today’s challenges. We welcome any questions that you may have regarding this report and the future of the Atlanta residential real estate market.

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Posted in Housing stats in Atlanta, NRT Development Advisors, Real Estate, Sales and Marketing, Uncategorized

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