Expert: Jessica Bryan - 5/15/2006

Question
Dear Sir,

We are building an apartment in a very small town which has around 50 flats to be sold, this is the first time anyone has built an apartment here in our village. Having problems in selling the same because it is a new concept here, how do I market these flats?

Tell me some points explaining benefits of staying in a flat over the bungalows, which would help me market these flats.

Regards.

Answer
Dear Ankit;
You didn't say where these 'flats' are located.  Most towns in the United States have no problem selling so I am wondering if this is outside of the US?  That would make a difference. Also, the price range is very important as well on how much marketing you do. Capitalizing on the new concept will bring out the curiosity of those in your target market area.  Make sure to use words and phrases that make people want to find out what this concept is all about.  Perhaps sending out an invitation for a big open house-luncheon would be a way to get people to see these and find out more.  Offering gifts, bonuses, food, prizes and drawings are all ways to get people to see your flats.  Once there, you will need to show the benefits to living in them.

Marketing and selling usually stresses all of the benefits of a dwelling.  Think of all of the positive points and market those.  Here are some possibilities (but it depends upon what your building and the units have in them):
They are new, they are centrally located, they are close to shopping, they have amenities such as swimming pools or tennis courts, they have exteriors maintained, grounds maintained, sidewalks, walking trails, maid service, security...
I would also work with a lender to find a good financing program that will show low payments, good investment, perhaps show how resales in the area have escalated and their investment will be a sound financial decision.  Also stress the new appliances, fixtures, luxury or beauty of well-appointed interiors.  You must make people want to move because they don't like what they have now and want what is new and better.  Offer some incentives, some bonus if they buy early. This can be anything from a lower price, a free appliance, to paying some of the closing costs.
Take good quality photos and show the flats in the best possible light with furnishings and decorating done.  Having a furnished model helps as well.  Make people "drool" over the flat!  By professionally decorating one sales unit you can often get more money for the other units and sell out much quicker.

So, to recap:
1.  Offer good financing options
2. Show sound investment potential
3. Stress home amenities and neighborhood features
4. Offer a bonus to buy early
5. Have a fully decorated model that you can use as your sales office.

I hope that this helps.
Good luck and best wishes,
Sincerely,
Jessica Bryan
Managing Broker
House to Home Realty Services