Know-How Exchange : Advertising/PR

Nathan
This definitely is a tough environment. It almost seems like people won't buy a house unless it's a short sale.

You could take advantage of that with something like New Homes: Short Sale pricing.

Michael

Try incentives: one-year health club membership with home purchase; credit toward utility bills for six months or a year, cable for a year... lots of things that buyers would love to have thrown into the package.

Consider oversized post cards (with message like Michael says--but only if the price is actually comparable to short sale pricing or simply "At Tody's Reduced Pricing" which could mean that the price is simply less than it was offerred to start with) sent to all residents (including apartment) in the city/town (and if you have the funds, to neighboring city/town residents). Post them on neighborhood markets', library, municipal offices, civic organizations, etc. bulletin boards and check out insertion prices for local newspapers. Depending on the size of your market, ask local businesses if you could leave a few on the counter (or post them in prominent sight range--after all, even a few new homeowners could translatesto business for them, too). Like the residential market, the commercial real estate market is stagnated. Yet there are businesses who must move, for various reasons. Just keep turning rocks over and don't give up.

jag
MarketBase

Has the developer sold other houses in that development? Survey those purchasers to discover why they bought. Was is price? Quality of the construction? the developer's reputation?
Take a look at those previous purchasers and develop their overall profile. Where do the hang out? Where do they buy? That will give an idea for where to advertise.

For a far out idea.

Perhaps the developer can partner with a well-respected charity in the area and raffle off one of the houses, with a ticket price in the range affordable to the target market. An open house for a 'free' house might bring people out.

Are homes selling in the area (and not yours) or are homes simply not selling? Based on conversations with realtors in your area, what types of homes ARE selling? What can you add to the deal to sweeten it?

As Gail@PUBLISIDE said, incentives are always good. I don't know your market, so I'm not sure what types of incentives would resonate with your potential buyers. But how about a year of cleaning service, landscaping or even a grocery stipend for a year?

Are you selling a 'HOUSE' or a 'HOME'?

2 different sales to 2 different types of buyers.

Houses are purchased by investors, speculators, banks etc.

Homes are purchased by families.

Be very clear first about exactly what you want to sell. Once you have decided on that, you can go about building a strategy to find the buyers that you need.

Good luck,

Matthew

I don't know about you all, but when I was shopping for a house, I started my search online. I wouldn't waste too much money on printed advertising. Your target market is anyone ACTIVELY shopping for a house Right Now, and I guarantee that these people are looking online, or at least their realators are searching online for them.

Do you have these homes listed online? Do you have clear, good pictures of these homes? Do you have more than one picture? Do you list all the ammenities, features and benefits?

Great things to list: Mature trees, Fenced yard, 2-living rooms, covered parking, garage, sprinkler system, energy efficient, great for entertaining......

You really need to paint a picture inside the buyers mind...

Forget lotteries. Forget gimmicks. And forget broad, unfocused sales attempts.

Focus on your ideal buyer. Who's that? Someone who fits the profile of others who've purchased similar houses. Herb hit the nail on the head: "Has the developer sold other houses in that development? Survey those purchasers to discover why they bought. Was is price? Quality of the construction? the developer's reputation? Take a look at those previous purchasers and develop their overall profile. Where do the hang out? Where do they buy? That will give an idea for where to advertise." Come up with a very specific profile. Then market to them.

Gail's suggestion is OK: "Try incentives: one-year health club membership with home purchase; credit toward utility bills for six months or a year, cable for a year... lots of things that buyers would love to have thrown into the package." However, use incentives that tie in directly to the ideal buyer profile.

One advantage lots of builders have is sources of mortgage money that regular buyers don't. Maybe it's money at a slightly lower rate. Or maybe it's reduced closing costs. Even if your builder doesn't have that, check the ideal buyer profile. Maybe they'd really value "no closing costs."

Mathew makes an excellent point: To you, they're houses. But to potential buyers, they're homes. Sell the benefits of a home. Again, look to the profile of the ideal buyer.

Also, many home buyers (and I'm guessing your demographic would match this) are looking for safety and good schools. If you can boast about one or both, scream that as loud as you can.

A quick idea: Ask previous buyers in the neighborhood for referrals. Friends, relatives, co-workers who might want to live in the neighborhood. Offer a generous incentive if any of them buy. In fact, offer a moderate incentive for them if any of the referrals stops buy and looks at your homes.

Another quick point: Make sure the model home is staged. And make sure it's staged in a style that is compatible with your ideal demographic.

Finally, you asked how to bring more people in. You don't want more people. You want buyers. It's easy to bring people in. But once they get in, you need them to buy. Hey: You want people? Free food does the trick. But that doesn't mean you'll get buyers. Again--like a broken record--identify your ideal demographic. Then market to them.

Hope that helps.