In the high-stakes world of luxury condo development, playing the long game is non-negotiable. You’ve got to hit the ground running with a go-to-market strategy that doesn’t just keep pace with the competition—it leaves them in the dust.
Unlike multifamily leasing, where you can afford to start marketing a about a year or so out, luxury condos demand a head start. Side note: if you think a year out is still a head start for a lease-up, give When Should I Start Marketing For Lease-Up? a quick read and then come right back!
Think of it as setting the stage for a blockbuster show; the buzz needs to start building well before the curtain rises. Pre-sales aren't just about securing those early commitments to get financing; they’re about establishing a brand that sticks in the minds of buyers long before the building’s even out of the ground.
The first move? Nail down a brand and product vision that’s as clear as it is compelling. It isn’t just about having the best renderings or using the biggest buzzwords—it’s about crafting a narrative that makes potential buyers sit up and take notice.
When you’re asking someone to invest serious money in a property they can’t yet see or touch, that brand story better resonate. It’s got to feel real, exciting, and worth every penny.
That’s where a strong brand identity comes in. Every detail, from the architecture to the amenities, needs to scream, “This property is by far the best choice to build a life. It's not even close.” Your brand is your promise, and it’s got to deliver not just a luxury home, but a lifestyle.
Early marketing materials should give a taste of that life—a sneak peek into the allure and exclusivity your development offers. The goal here is to create desire and anticipation that builds long before the first foundation is laid.
When it comes to selling luxury, the details matter—big time. We’re not talking about a simple pocket folder or a templated generic website. Luxury condos call for marketing materials that are as high-end as the properties themselves. To account for these expenses ahead of time, plan to allot 1% of the project value toward just the marketing.
Think bound sales books that are more like art pieces than brochures—complete with detailed renderings, floor plans, and options for customization. These aren’t just informative; they’re designed to be an experience.
The quality of these materials can make or break a deal. Every element, from the texture of the paper to the sharpness of the images, needs to exude luxury. You want potential buyers to not just see the value, but to feel it in their hands. This kind of tactile engagement reinforces the premium nature of the development and pushes them closer to signing on the dotted line.
In luxury condo sales, timing isn’t just important—it’s everything. You’re not just selling a home; you’re selling a dream that’s still in the making. With pre-sale requirements often demanding a significant percentage of units sold before construction kicks off, your marketing efforts need to start way ahead of time—like, a 18 months before the C/O date.
Starting early gives you the advantage of time. It lets you build relationships, nurture interest, and create a sense of urgency. Paid campaigns should hit the ground running nine to twelve months before the projected completion date, laser-focused on the demographics most likely to be interested in your development. By the time the doors open, buyers should already be sold on what you’re offering.
Your sales environment needs to be just as luxurious as the condos you’re selling. Whether it’s an off-site sales center or an on-site model home, the space has to reflect the high-end nature of the project. It’s not just about showcasing finishes and floor plans—it’s about immersing potential buyers in the lifestyle your brand promises.
Imagine a model unit that doubles as a sales office, appointed with the same high-end furnishings and materials that will be in the finished condos. Or an off-site sales center that’s decked out to echo the luxury of the development. The goal here is seamless: create an experience that leaves buyers confident in the quality and value of their investment.
Investing in a solid early-stage strategy, killer marketing materials, and a brand vision that resonates isn’t just about hitting pre-sale targets. It’s about setting the tone for the entire project. When you engage buyers early, tell a compelling story, and offer an experience that reflects the luxury of your condos, you’re not just making sales—you’re building long-term success. In a market where every detail counts and competition is fierce, starting strong is the difference between being another option and being the option.
This week, we're digging into our blueprint for how you can design a lease-up strategy that gets the job done and works harder than your competition.
This week, we're digging into what multifamily can learn from hospitality when it comes to creating a five-star resident experience.
This week, we're breaking down the basics of absorption rates in multifamily real estate. What they are, how to solve for them, and why they matter.
AI's and chatbots can't feel, but if they could, they wouldn't like what we're about to say. In an era where technology seems to be taking over every aspect of our lives, the question for multifamily leasing professionals is: How much should we rely on automation, and where does the human touch still play a vital role?
A simple read in under 5 minutes, delivered to your inbox Saturday mornings.
A simple read in under 5 minutes, delivered to your inbox Saturday mornings.