DEFINING YOUR PROSPECT:

WHO? WHAT? HOW?

CONSUMERS COME FIRST

Real estate marketing and sales relies first upon understanding the characteristics of potential consumers and their needs and preferences — WHO are these individuals and households for a particular marketplace in terms of age, income, household size and likely behavioral patterns.

Such consumer information is essential to creating the highest impact product to attract their attention — WHAT appearance and design features will match their needs and preferences at a feasible price range. For new homes, product includes regional and neighborhood attractions as well as community amenities and both the exterior and interior features of specific dwelling offerings. The tendency of consumers to relate to persons with similar age, income and household size characteristics provides a special attraction for most potential buyers.

The same consumer information provides the basis for cost-effective marketing strategies — HOW best to attract these consumers to contact the builder and visit the offerings at the most efficient time and cost outlay. Despite claims to the contrary, most real estate requires face-to-face contact with consumers to achieve sales. It cannot be sold by phone or even Internet communications.

These three simple words —

• WHO?
• WHAT?
• HOW?

— constitute the essence of efficient marketing and sales or leasing of new homes. They are the basis for REMA success in guiding many community developers, hoteliers, and homebuilders toward rapid sellout of all types and prices of new homes and rental apartments. With modest modifications, they can be applied directly to retail, commercial and industrial real estate as well as housing.