Broker giving keys of new house and handshaking with customer, a blog about house selling strategies

House Selling Strategies for Property Developers

With the country entering what threatens to be a “severe recession like no other”, now more than ever, property developers must use every tool in their arsenal to keep making sales.

In this blog, we’ll take a look at some of the house selling strategies you can use to maintain a healthy bottom line, even in a slow market.

Learn about Your Target Market

No two property developments are the same, just as no two buyers are the same. The first step in creating a winning sales strategy is to know who your target audience is. Who will your development appeal most to? What age are they? Where do they work? Do they have children? 

Building detailed buyer personas is the best way to understand who your ideal customer is. You can then create a marketing plan that speaks to the right people — those most likely to buy from you. Advertising your development as “family-friendly with good schools nearby” is not going to help you sell luxury flats in the city centre, but targeting your marketing at young professionals will.

You can gather extremely useful data from buyers as soon as you have sold some properties in the development or if you have built a similar one previously. What kind of people made it through to sale completion?

Once you understand your target audience you can plan marketing, services and sales processes to meet and exceed expectations.

Create a Strong Brand for Your Development

Whatever the size of your development — be it a small cluster of four homes or a sprawling 100 home site — creating a strong brand is essential for success. Give the development a name that will attract your ideal buyer. Families may be drawn to names that suggest safety and homeliness, whereas young professionals will be drawn to a name that suggests status and prestige. 

Walk around the development and survey previous buyers to get a feel for what your brand should look like. Consider the company branding and make sure that the development’s brand complements it. 

Once you’ve created the brand, make sure it is consistent across marketing literature, such as property brochures, as well as digital media (website, interactive property walk-throughs etc.). According to author Simon Sinek, “people don’t buy what you do, they buy why you do it”. Including the company’s values and ethos in your messaging is a great way of engaging with potential buyers.

Sell a Lifestyle Not Just a Property

Buying a new home is one of the biggest investments most people make. It’s a major life decision and the majority of buyers want a property that will be their home for years to come. Moving house is one of the most stressful life events. Few people relish the idea of experiencing it frequently, which is why buyers consider not just the property, but the lifestyle they are buying into.

Think about your buyer personas and what would entice them to buy beyond the bricks and mortar of a new home. Are there schools and parks nearby for families? Will commuters have ready access to transport links? What other local amenities and culture might appeal to your ideal buyer? Create a vision of the life a buyer could enjoy if they move into the development and use it across print and digital marketing.

House Selling Strategies to Offer Customers Added Value

Make it easy for people to buy your properties by offering services that add value and make you stand out from the competition. For example, not every developer offers part-exchange (PX) and they’re missing a trick when they don’t.

Part-exchange is a great way to increase your value in the eyes of potential buyers. PX will reduce the hassle, stress and expense of selling and buying for many of your customers. It will also lead to quicker sales because a buyer that needs to sell their current home to purchase your property can do so in one straightforward transaction — dealing directly with you. They won’t have any estate agent fees to pay, which can be a huge draw as some agencies charge fees as high as 3.5%. This equates to around £7,000 on the averagely priced house. We offer a flexible PX scheme that is suitable for retirement home builders, volume builders, ambler home builders and new home agents. There’s zero risk for you or your buyer.

Embrace Smarketing

Traditionally, marketing and sales have been somewhat polarised, but business owners are now realising the value of the two working closely together.

Make sure that sales and marketing efforts are aligned to ensure a collaborative “smarketing” effort. Marketeers can use inbound marketing tactics to attract and lead score potential buyers. This information will help sales agents to prioritise leads and make the right approach.

Create a Professional Website

The majority of property searches start online. Having a professional, optimised and high-performing website is a vital part of any developer’s sales strategy. If you have multiple developments targeting different types of buyer, creating a website for each can send a more powerful and personalised message. 

Make sure the website reflects the development’s branding and that content is well optimised. Effective search engine optimisation (SEO) will help your site appear ahead of competitors in search results, which will increase the number of people visiting your site, making enquiries and booking viewings. 

Makes Use of New Technology

Successful property developers are making use of advanced technologies such as Virtual Reality (VR), Augmented Reality (AR) and virtual tours. These are especially useful resources for selling in the current climate where social distancing is encouraged and many people are wary of venturing too far from home. They are also invaluable for encouraging people to buy properties off plan. Immersive technologies such as AR and VR can help people get a feel for your development and imagine themselves living there before it is even built.

Computer Generated Images (CGI) are another great resource for selling off-plan properties, which are often popular with investors and cash buyers. CGI tools are easy to use and represent a savvy investment as they often pay for themselves. A professional brochure enhanced with enticing CGI will help your sales agents convert interested parties into buyers. 

Whatever the health of the housing market, property developers must continually review and evolve their sales strategies to stand out from competitors. Take the first step towards selling more houses by contacting HBB Solutions today. We are a specialist part-exchange provider and can help boost your value as a developer for potential buyers.