Australia is experiencing record growth in the residential development sector. And with such intense competition, it’s more important than ever that your development stands out from the crowd. Property branding can make that happen.
In the past, it’s only really been the large multimillion dollar developments who have invested in clever branding strategies, but times have changed!
With a booming real estate market, smaller property developments are harnessing the power of branding to sell their properties—and for a very good reason. Prospective buyers are getting savvier and savvier. They’re looking for unique developments that sell them a lifestyle as well as a home. They want more than just four walls—they want a full immersion into what it would feel like to live somewhere. They want to experience the dream before they sign on the dotted line.
If you’re not branding your development, you’re already on the backfoot.
Here are 5 reasons why property branding is essential in today’s current real estate market.
Branding adds value
One of the benefits of selling a lifestyle along with a home is that people see the value and are more likely to pay a premium price for it. Estate agents Frank Knight conducted a research study which found that “branded residences command an average uplift of 31% compared to equivalent non-branded schemes”. With this kind of increase in sales prices you more than cover the costs of branding your development. This is reason enough to brand your development!
Branding is influential
Great branding is memorable, it’s emotive; it sticks with us long after we’ve moved on. Branding can be the difference between making an impression on your buyer or fading into the pool of indistinguishable red bricks and mortar.
Brands are perceptions and when you’re selling a development, you’re dealing directly with perception. Whether it’s off the plan or in the early stages of development, chances are you’re trying to convey a vision of what’s to come to a prospective buyer. You’re creating a sense of promise that the currently empty dust bowl will one day grow into a vibrant community. Branding only helps to cement this further.
By establishing a personality, name, and identity around your development, you start an emotional connection between the buyer and the property. It’s also a powerful way to secure identifiable market positioning.
Taking the time to create branding increases interest, intrigue and demand for your property – which, of course, will only help you to sell it faster.
Use consistency to drives sales
With property branding finding a place to live turns into a rich experience, full of excitement and promise. This experience can include many touchpoints—from printed material and showroom visits to contact with a real estate agent. These touchpoints help the development come alive for the prospective buyer.
Without a doubt, a high-end luxury development aimed at attracting a buyer with the right buying capacity should be utilising a luxury style brand identity supported by premium marketing materials such as brochures, a website, showroom and sales consultants. Consistency between all of these aspects is key and, when done effectively, these branded touchpoints will help to drive sales.
Create Competitive Differentiation
Simply put, branding helps you to stand out. You will lure in prospective buyers with an emotional connection that only branding can create for you. Harnessing your unique selling points, branding will help you to showcase the individuality of your residences to the buyers. Eco-friendliness, high-end design and family friendly living are all aspects that can come to life in the overall branding before anyone has even picked up a sales brochure or reach any of the copy.
When done well, branding establishes an immediate sense of trust. In the way that a picture conveys a thousand words, branding crafts your development into an identity that words could not capture. Everything that your development stands for, everything that it is trying to achieve, can be encapsulated in your brand. Prospective buyers are more inclined to have faith in your business with branding. When they experience high quality design and services from the moment they engage with your development, they’re more likely to trust that this standard will continue beyond the sales experience. Branding helps them to feel confident that you will deliver on what you promise.
CSQD are your specialists in property branding Gold Coast. Check out our latest property branding project, Vue Broadbeach.
Looking to brand your next property development? Get in touch for a friendly chat and a quote.