16 Mar Tip for the week: Visit open for inspections in your target area.
When it comes to success in property development, getting your finished product sold fast is super important. For a four-townhouse project where each townhouse sells for $800,000. Every extra day on the market costs over $300 on commercial bank interest rates.
Selling product fast comes primarily from offering a product that perfectly aligns with what your target wants, plus a savvy marketing agent.
When it comes to getting a handle on what the market wants, who better to ask than the person who spends a majority of their time satisfying the requirements of buyers.
I’m talking about a marketing agent, specifically someone who derives most of their income selling new projects. What you need to get right is design and specifications (fixtures and fittings).
TIP: Visit open for inspections in your target area. Tell the agent you are a developer, get copies of the plans and specifications and ask about all the good and bad features.
Also, when you get your first draft of plans for your development permit, run them past a marketing agent or two. You’d be surprised how good they are with improving design and features to comply with market demand.