Thinking outside of the box is something that every successful entrepreneur does. No matter what industry you’re involved with, inspiring change and taking risks is one of the defining factors of a successful business. It could go horribly wrong or it could propel you into stardom, but without inspiring drastic change, your business becomes stale and you’re not going to build success off copying others.
So here are three unique ways to ensure that you are constantly at the forefront of property development. Whether you specialise in affordable housing, first-time buyers or even luxury properties, you’ll find something here that will be of use to you and help to increase your exposure and relevancy in such a competitive market.
Follow the stars (literally)
When you buy a new electronic device, would you rather pick something that all your friends use, or would you rather be the odd one out and get something that no one uses? The mentality is similar with housing. You want to move to a location that you have heard of or you know about and not a random place in the middle of nowhere. You’re also more inclined to pick and area if there are celebrities living in the area. If the location is good enough for someone wealthy, then it’s more than likely going to be suitable for you as well assuming you have the money.
A great way to follow what the celebrities are doing is to actually use social media. Many fans will talk about housing and live in different parts of the world just to see celebrities and hang out with them on a regular basis. For instance, Beverly Hills is an extremely popular location due to it being the home of many Hollywood stars. If you specialise in luxury properties, then you’ll want to have homes for sale in this area. When celebrities move to different locations, you want to be at the forefront and you want to use the celebrity presence as a selling point.
Keep up with developments
Whether it’s a crowdfunded development project or something started by a rich and wealthy businessman, you want to try and jump on these new development projects as soon as possible. You can’t, however, expect them all to work 100% of the time. If the head of a new development project is someone you’ve never heard of, then you probably shouldn’t trust them or their claims because they don’t have a portfolio that you can refer to in order to judge their work.
Instead, you should follow trusted property developers around the world such as Joe Nahas, CEO of Coronation Property. The more successful development projects they’ve operated in the past, the more likely their new one will tick all the right boxes and be a worthwhile investment for you and your real estate agency.
Put yourself in the shoes of the buyer
This is usually something that is done on a per-client basis, however, it’s an essential component in any kind of property development selling strategy. If you don’t understand the needs of your clients, then you won’t make nearly as many sales as you could.
Analyse current market trends, your local market, and the types of clients you get. Learn to judge their character and their needs by asking questions or deducing from what information they’ve provided you. For instance, if a single professional adult is approaching you about studio apartments, then you can already try to imagine what they are thinking when it comes to the perfect property. Perhaps they want a bachelor pad, perhaps they’re a student that wants affordable accommodation, or maybe they’ve recently divorced and want to start a new life. Using this information, you can sell a home that is tailored towards their needs with pinpoint accuracy.