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Selling off the plan property is vital for many development projects to get out of the ground. Marketing and selling an idea and vision requires specialist skills.
So I’m speaking with Ben Khong from Chisholm & Gamon about off the plan sales.
Ben has been working in property sales for a couple of decades, mainly selling off the plan so brings a wealth of experience to this conversation, and lots of practical tips for your next sales campaign.
We talk about how you can seek out the best agent to help market and sell your project, the importance of pricing and monitoring the response, and the importance of understanding who your likely buyer is and what they want.
Keep an ear out for Ben’s thoughts on what kinds of issues can come up in design that may put buyers off…
Property Development Training
If you are interested in learning the fundamentals of property development, in your own time and at your own pace, then be sure to head over to www.propertydevelopertraining.com and take a look. I take you step by step through the development process so you know exactly what is needed to find a site, run a feasibility and complete a small scale property development, be that a duplex or 3 or 4 unit site.
So head over to propertydevelopertraining.com and take a look… I would love to see you on the inside…
Property Developer Quiz
Keen to find out how ready you might be to become a developer? Then take the Property Developer Quiz (https://www.propertydevelopertraining.com/quiz) and get a sense of where you are at…
Become a Million Dollar Property Developer
Grab my book Become a Million Dollar Property Developer about my journey into property development. This book is ideal for anyone who intends to get into small-scale property development and wants an insider’s guide to successfully obtaining wealth, fulfilment, and glory.
In this book, Justin will share how he succeeded in delivering a 20-townhouse project on his first property development project and what he learned along the way.
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Links
Chisholm & Gamon – https://chisholmgamon.com.au
Episode Summary
The episode features an interview with Ben Khong from Chisholm & Gamon, a property marketing and sales specialist, who shares his expertise on how to effectively sell property off the plan.
Top 5 Points:
- Selling off the plan is all about creating an emotional connection with buyers.
- Developers should invest in high-quality marketing materials to showcase their properties and make them stand out in a competitive market.
- Offering incentives, such as discounts or upgrades, can be an effective way to encourage buyers to purchase off the plan.
- Building trust with potential buyers is crucial, and developers should be transparent and honest about the development process and potential risks.
- It’s essential to have a solid understanding of your target market and tailor your marketing approach to their needs and preferences, and creating an Emotional Connection with Buyers
According to Ben, selling property off the plan is all about creating an emotional connection with potential buyers. To do this, developers should focus on showcasing the lifestyle that the property offers, rather than just its physical features. This means highlighting the property’s location, views, and amenities and emphasizing how they can enhance the buyer’s lifestyle.
Investing in High-Quality Marketing Materials
Investing in high-quality marketing materials is also critical when selling off the plan. Ben suggests using 3D renders, virtual reality tours, and video content to showcase the property and give buyers a realistic sense of what it will look like. He also recommends using professional photography and copywriting to create a compelling marketing campaign that makes the property stand out in a crowded market.
Offering Incentives to Encourage Buyers
Offering incentives, such as discounts or upgrades, can be an effective way to encourage buyers to purchase off the plan. Ben suggests offering incentives that are aligned with the buyer’s needs and preferences, such as a discount on the purchase price or an upgrade to the fixtures and fittings. Offering a flexible payment plan can also be an attractive incentive for buyers.
Building Trust with Potential Buyers
Building trust with potential buyers is crucial when selling off the plan. Ben emphasizes the importance of being transparent and honest about the development process and any potential risks associated with purchasing off the plan. Developers should also provide regular updates to buyers and be available to answer any questions or concerns they may have.
Understanding Your Target Market
To effectively sell property off the plan, developers need to have a solid understanding of their target market. This means identifying the demographics, lifestyle preferences, and purchasing habits of potential buyers and tailoring the marketing approach to their needs and preferences. Ben suggests using data analytics and market research to gain insights into the target market and develop a marketing strategy that resonates with them.
In conclusion, the podcast episode “Mastering the Art of Selling Property Off the Plan” provides valuable insights into how developers can effectively sell property off the plan. By creating an emotional connection with buyers, investing in high-quality marketing materials, offering incentives, building trust, and understanding the target market, developers can maximize their chances of success and achieve their sales goals.
