The Fast Sell Program must compete with hundreds of Luxury High Rise Condominiums in better locations.

Ours is an empty lot.  Why would anyone buy it?  

If downtown was hot, all we'd really have to do would be put up a sales trailer and take orders.  But our downtown is NOT HOT.  Our objective must be to make it Hot.  To lead the charge. To become a key player in a successful two to five year renovation of an historically dowdy, even drab downtown.  Generic marcom will not work fast enough.

 

FOUR ASSUMPTIONS.

1)  LUXURY PRICING.  

Unit prices can be set below, at, or above comparables in the market.  In this case we'll assume 150 units 2- and 3-BR apartments priced at $500,000 to $800,000.  The median price is $650,000.  A sales contract requires a 20% down payment of $130,000.

2)  UP FRONT SALES. 

To secure construction financing, we must pre-sell at least half of the 150 units to High Net Worth Individuals.  Our marketing object is to sell 75% -  close to 115 units - in 120 to 150 days.   

Bulldozing can begin soon after we secure construction financing.  Construction will take at least eighteen months.  During the interim we want about 35 more HNWI's to buy the remaining units. The sooner the better.

3) COMPETITIVE PRODUCT.

We'll assume that Local Real Estate brokers have reviewed our proposed elevations, floor plans, trims, finishes, and promised amenities.  Brokers believe our basic product will appeal to local homeowners who might be planning to downsize or possibly purchase a vacation home, corporate suite, or an in-town pied a terre. 

4) GROUND ZERO.

Lastly, we'll assume that the City's plans to revitalize the downtown area have been reasonably well publicized, and have won general popular support.  To date, though, nothing much has happened.  

The downtown area is still occupied by government buildings, a court house, and an assortment of partially occupied high or low rise office buildings.  

There are a few shops, restaurants, and late night Rave clubs, perhaps, but little has been done to attract affluent suburbanite shoppers or corporate relo managers.    

The Basic Fast Sell Program

This program exploits two consumer dynamics that are often exploited by Luxury Real Estate Developers.  

One is that sales breed sales.  A carefully engineered feeding frenzy can generate enormous sales velocity during a short time period.  

The other is that multiple purchase options convert far more prospects to buyers than a generic "Take or leave it" proposition.

1) AWARENESS. Create widespread brand awareness using public relations, short term high-intensity media, and targeted direct mail.

2) TRAFFIC. Drive a high volume of active shoppers, future shoppers, brokers, and curiosity seekers to the site.  Paralyze competitive efforts.  Create a lemming effect among all local HNWI's.

3) OPTIONS. Convert 12% to 15% of Qualified Prospects to buyers of low cost 30-Day Options, medium price 90-Day Options, and full down payment and Sales Contracts.

4) CONVERSION. Convert Option buyers to Contract Buyers using multiple Finishing & Trim Option offerings.  Create a "Going, Going...Gone" momentum.

5) CLOSE-OUT. Once 50% to 75% of unit sales are achieved, sell the remaining units through a combination of referrals and MCPS Media.  

 

 

To achieve these goals, the brand strategy, brand positioning, brand name, and introductory advertising must attract attention and serious consideration from all area HNWI's - regardless of whether or not they happen to be the market for a downtown high rise condominium.

The opening moves in the Fast Sell Program are anything but generic.  

 

 

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FSP-Intro   Competition   Planning   Seven Strategies   The Correct Position
Start Up   Start Up II   Start Up III   Month One   Day One   The Name    Brand Intro
MCPS Media Plan   Collateral   Floorplans?   Trim Options   Wrap