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Part Two Real Estate Marketing In Crisis Periods
 

Part Two Real Estate Marketing In Crisis Periods

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The second seminar from the series about Real Estate Marketing in Crisis Priods organised by Roberts Publishing Group

The second seminar from the series about Real Estate Marketing in Crisis Priods organised by Roberts Publishing Group

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Part Two Real Estate Marketing In Crisis Periods Part Two Real Estate Marketing In Crisis Periods Presentation Transcript

  • Real Estate Marketing in Crisis Periods Part 1I The newest trends which will influence real estate market during crisis “During an economic downturn you need to increase your marketing dollars to ensure you are ahead of the competition” Kate Coldwell, Chief Marketing Officer Thomson Reuters 18th of February 2009 – Radisson SAS Hotel, Bucharest CIJ Progressive Learning Program Presented by Adrian Niculescu
  • Real Estate Marketing in Crisis Periods  The growing importance of Green Projects – how to market them and why;  Everybody goes online – techniques and activities to be implemented for a better and smarter online presence;  Why is very important to appear in the news portals and how to do this cost-effective?  The power of blogging and how this works in the real estate?  Case study GLS Invest – www.glsinvest.ro  Mistakes done in emerging periods which have to be avoided in crisis periods;  Why and how the crisis can work for us?
  • Real Estate Marketing in Crisis Periods Green projects: There is a general awareness for green energies, save the planet, csr and real estate business will follow this trend and the people specialised in market and promote such projects will cover an interesting and growing market niche. Within the recent past, the following trends have converged to create significant opportunity for “green” development - including construction and eco-efficiency - in Romania and the surrounding region:  increasing competition for existing fossil fuel reserves and falling (or eliminated) energy subsidies and the resulting rising energy prices;  unprecedented international political and business enthusiasm and demand for securing reliable sources of energy, reducing dependence on unstable suppliers of oil and combating climate change.;  scarce natural resources leading to significantly higher prices for a variety of construction inputs ;  demonstrated investor interest in green building certification schemes  mandated green procurement targets currently implemented;
  • Real Estate Marketing in Crisis Periods  falling prices for eco-efficient building solutions;  significant EU Funding for sustainable development (4.5 Billion Euros allocated between 2007 and 2013 for Environmental initiatives in Romania alone) and a general allocation of 30 Billion Euros to Romania for “Structural Funds” to improve infrastructure, competitiveness, governance, etc. ;  greater willingness of financial institutions to consider total life-cycle costs in approving project financing ;  relatively recent introduction of mortgage lending and other forms of construction financing that makes available more purchasing power when planning and designing homes and buildings for better energy efficiency;  implementation in Romania and other member states of the mandatory European Energy Performance Building Directive (EPBD) requiring energy certification for new (2007) and existing (2010) buildings;
  • Real Estate Marketing in Crisis Periods The marketing of green projects will have to focus in the crisis periods on: Cost savings Implementation of the newest technologies Responsibility for the planet’s resources We will encounter two categories of green buildings: 10.Where will be implemented most of the features which transforms a regular building in a green one – with the proper investments; 11.Where will be implemented only few – not heavy cost features to be a real green projects, but only some minor adjustements which will help more the marketing department in the promotion activity than the future tennants. Case Study Euro Tower – Bucharest – 30% reduction of energy consumption, Proximity to public transportation, public green area, trees at rooftop, work areas with maximum exposure to the natural lights
  • Real Estate Marketing in Crisis Periods Everybody goes online The globalization and people’s disponibility to travel a lot abroad made from internet the main source for information instead of magazines and newspapers. In Romania, BMG publications will be available only in online edition – subscrciption based, the content following to remain the same, from the same editorial team; That’s why became mandatory for real estate projects to be present and visible online; Besides the company website is important to have the project featured in other specialised websites to create awareness. For the company or project website, all begins with the choosing of the keywords from which will be found the website. Example: residential – project name vs project features, area s.o.
  • Real Estate Marketing in Crisis Periods The content have to be adapted according with the keywords to sustain the proper communication of the website. Links with specialised portals will drive more awareness to your project because customers like to associate with things and brands recognised in the market. Since a mall is far more than just a complex renting spaces to retailers, it creates a shopping atmosphere, a way of life, the marketing team has to transform all the activities in sources for articles published in the own site or sent to the press. Case study: Liberty Center An industrial project have to promote itself through the facilities and also through the anchor tennants which will bring other new clients. The extreme examples with the IT shops, banks, carpet stores united in “trade areas” and the analogy with A1 area with logistic and industrial projects.
  • Real Estate Marketing in Crisis Periods Why it is very important to appear in the news portals? Let other people, websites, portals to speak about you! Communicate as much as possible your activities in the market to be and remain in the spotlight. Advertising? No! There are hundreds of websites and portals hungry for content. If your info is rich in content, interesting for the audience of the website/ portal/ online or offline magazine it will be published at a fraction of the normal adverstorial cost or even for free. Many of the articles will have links to the copmpany’s or project website and the visibility will be maximum. As previosly said, a crisis is a very good period for some developers or agencies to burn some stages, reposition themselves in the market and come in front. For big- multinational agencies is a great oportunity to diversify and strenghten the portofolio of clients.
  • Real Estate Marketing in Crisis Periods Example 1: real estate company involved in office renting and acquisition 2008 – total market 100,000 from it the company has 10% - 10.000 2009 – total market 50,000 Scenario 1: company will have 10% - 5.000 Scenario II: company will have 20% - 10.000 Scenario III company will have 25% - 12.500
  • Real Estate Marketing in Crisis Periods Example 1I: a developer in residential having for sale 300 new apartments in Dristor area 2008 – total market of sold new apartments in Dristor 1000 from it the company has 5% - 50 2009 – total market of sold new apartments in Dristor 300 Scenario 1: company will have 5% - 15 Scenario II: company will have 16.66% - 50 Scenario III: company will have 30% - 90 We can draw the same example for a mall and for an industrial – if we will talk about similar prices and conditions, the difference will be made by: customer service and online + offline awareness for people to choose the projects highlighted.
  • Real Estate Marketing in Crisis Periods The blog is a combination between a website and a forum – you can publish whatever you want – as a person or as a company and the readers can post comments so there is also interactivity. In the last years, the blogs became a very powerful marketing tool and the most famous bloggers are trend setters. When a new car in launched is offered for free to a blogger to write about it. It is something much more than putting a simple presentation in a website or an ad in a newspaper because it is richer in content, has personal feeling and is very powerful. Also you can use this in residential to speak about a project, about the facilities, in industrial, with success stories about how you as a developer personalised spaces for customers X and Y, to publish market trends and others.
  • Real Estate Marketing in Crisis Periods Also you can use keywords of interest with you which will help your website, or websites to be seen by the people interested. Please make a comparison: 3. A website, rich in content, optimised by the keywords posted on web. 4. The same website, but with content spread in many news sites and portals (with links to it), articles submitted to blogs about the projects included in the site, about the people behind the projects. Usually, if you as a person or a company have soemthing to say, don’t hesitate and create a blog. One of the reference blogs – Marriott and Trump.
  • Real Estate Marketing in Crisis Periods Case study: GLS Invest GLS Invest is the investment department of General Lux Service srl, one of the top construction companies in Romania. In september we started to create a new communication strategy for the company’s projects and were born: www.glsinvest.ro, www.glsindustrial.ro, www.glslogisticpark.ro and started to implement an intergrated campaign of articles in the most important portals, news sites and newspapers, being listed on Google hundreds of articles and links about GLS Invest. The news releases issues through news agencies were re-published by a big number of also small-medium sized websites specialised in business, financial and real estate news.
  • Real Estate Marketing in Crisis Periods Mistakes done in emerging periods which have to be avoided in crisis periods. These mistakes are related with: - lack of communication - not realistic budgets - leaving the real estate marketing issues in hands of the specialists in fmcg marketing - full orientation towards the clients – they are fewer and fewer;
  • Real Estate Marketing in Crisis Periods Why and how the crisis can work for us? If the best income producing agent from Colliers network is a Romanian this means that we have a subject to discussion. The crisis is full of oportunities, but all of us will have to gain new skills, to specialise in more than just one fields and to pay very close attention to the market happenings around us. I think that our goal should be more than just keeping the job, but to become more than before recognised as professionals in the field(s) we work.