Luxury Real Estate Marketing Essentials – A Chinese Luxury Brand is Born

As a luxury real estate marketing professional, it is important to understand how a luxury brand is born and how it is developed. Here is an example of the challenges in developing the first Chinese Luxury Jewelry brand, Qeelin.

The founder Dennis Chan knew that he could not launch Qeelin in China. The Chinese marketplace would perceive it as a local brand regardless of the quality of the product. He knew that the Chinese marketplace would accept the brand if it was successful in other countries.

The brand was launched at the Cannes Film Festival in 2004. Maggie Cheung, who won the Best Actress award, wore the jewelry. Because she was the first Asian actress to be given this honor, she received worldwide coverage. And, so did the jewelry!

The first sale was made in Paris. They chose Paris as the first point of sale because the world of jewelry in Paris demands the very best. That challenged the partners to strive for and to achieve their potential.

The Results:

“We are currently perceived as an international luxury brand originating from China, and we have a good portion of our clients who are mainland Chinese.”

Qeelin’s target market is women who love haute jewelry (highest quality) from luxury brands. They have a discerning eye and look for handmade pieces with special stones. They do not follow trends; they follow what they consider to be the best.

The style of the designs reflect Chan’s Chinese heritage. One of the standouts is the Qin Qin (kiss-kiss, in Mandarin) goldfish pendant with magnets embedded within the golden lips. Chan explains, “The design has the ability to surprise and give our customers a little bit of a thrill through the unexpected.”

As you launch and build your own personal brand as a luxury real estate marketing professional it is important to understand your target market, i.e., their demographics. It is also important to understand their psychological preferences-their psychographics. By offering the unexpected such as a remarkable closing gift, you too can surprise and thrill your clients and trigger word-of-mouth advertising.

Real Estate Submarkets and Their Characteristics

The Jamaica real estate submarket

The general market for goods and service is made up of many submarkets. When left free to operate without private or governmental interference, each submarket and the general market as a whole should theoretically regulate itself by the laws of supply and demand.

One of the submarkets of the general market for goods and service is the Jamaica real estate market. While the real estate market differs in a number of distinctive ways from other markets, it acts much like all markets with respect to changes in supply and demand, but with a slower response time. It has the appearance of being a single, simple entity when in fact the real estate market is itself composed of many complex sub markets. This would include Jamaica homes for rent as well. This would be known as a parent category.

Real estate is a commodity just as wheat, gold and sugar. By combining the other factors of production with land we can produce wheat, gold and sugar or buildings.

Major sub markets of Jamaica Real Estate

Most authorities agree that the five major submarkets of Jamaican real estate are:

1. Residential homes for rent in Jamaica;

2. Commercial;

3. Industrial;

4. Agricultural;

5. Governmental and special – purpose properties

Each of these five categories is further divided into minor submarkets. For example, “residential” as a major submarket can itself be divided into minor submarkets as follows:

1. Urban;

2. Suburban; and

3. Rural

Each of the minor submarkets can be divided further into single-family and multifamily, which could then each be classified as owner-occupied and rental. The point is what appears to be one big, but simple real estate market is in reality, a complex structure of many individual submarkets, each of which contributes to the overall market.

The characteristics of the real estate market

If the real estate market were allowed to operate without any interference or restraint whatsoever, each person could use his or her property in any way that would produce the greatest return. This could result in one person’s use of Jamaican property causing a loss in value to another person’s property. Obviously, we cannot permit land to be used for whatever purpose the owner thinks best for his or her private gain.

For example, if you lived in a very fashionable up-market residential subdivision and your neighbor bought two undeveloped lots adjoining your property for use as a pig farm or for a paper mill with its offensive odors, the social costs to you and the rest of the subdivision would far outweigh the private gain to your neighbor. Therefore, the real estate market cannot be permitted to operate free of all controls and restraints.

Listed below are five primary characteristics affecting ownership and sale that set real estate apart from other markets.

1. The market is local in nature; the product is immoveable.

2. It is slow to respond to change in supply and demand.

3. There is relative permanence of improvements; land is durable and fixed in location.

4. The market is not organized and is without central control; there is no standard product and no central information.

5. Governmental controls influence the market through zoning, building codes, taxes, etc

Local in Nature – The market for real estate is uncommonly local in nature compared with other markets. The reason, of course, is that land and the improvements thereon are immoveable. For example, we cannot transport sugar cane lands from Westmoreland to Kingston. If we were in the market for tomatoes we could haul our produce to the place where demand might be greatest. However, despite the demand for housing in Area A, we cannot produce an apartment complex or single-family subdivisions on land located in Area B and take it to where there is greater demand.

Slow Response – The property market is unusually slow to respond to changes in supply and demand. Very often the number of houses (supply) in an area begins to fall behind the demand, however, since the design, land acquisition, site preparation and construction phases of real estate are so time consuming by the time demand responds the market becomes flooded. The equilibrium between supply and demand is thus destroyed because the supply of the town houses exceeds the demand at the time.

Permanence of improvements – The characteristic referred to as permanence of improvements is also closely related to the above characteristics. The typical bungalow-housing unit has a long economic life compared to other commodities. Once we have built a block of offices we are stuck with it when perhaps we could have invested our time and money in a hotel. Therefore, the permanence of the improvements created eliminates many alternatives available to markets.

Decentralized nature – Another characteristic of the real estate market is the lack of a single, central exchange for dealing with the real estate island wide. If one wishes to buy 100 shares in General Motors, California, the product will be the same as General Motors, Florida. However, if one wishes to buy 100 hectares of beachfront property in Westmoreland, Jamaica the product will be different in many respects from beachfront property in Portland. This focuses the attention on the two main reasons why there is not a central exchange for real estate.

First, the product cannot be standardized. No two tracts of land are the same. Even two lots side by side on a street have different geographical locations on this earth. This concept is referred to as heterogeneity or non-homogeneity.

Second, no central data bank or information source tells about all real property in Jamaica. Also, one needs to be careful when using information about properties in one area to assess properties in another. If one wants to know about real property in any location, it is best to go to that particular place and seek local information.

Governmental Controls – The fifth and last of the primary characteristics of the real estate market, governmental controls, plays an inordinately important role when compared to other markets. Most people are familiar with direct controls such as zoning and building codes which govern construction and use of property.

Governments also exercise indirect controls, such as the monetary policies of Central Government. For example, if Government reduces the overall money supply to slow the inflation rate, higher rates for mortgage bans turn, drives many potential buyers out of the real estate market in Jamaica. This does impact heavily on the drafting of a rent agreement in Jamaica.

Real Estate Investing Basics – Choose Your Neighbor Marketing

A very effective, yet often overlooked method of marketing both your rentals and your houses for sale is door to door flyers in the neighborhood of your property. Residents who live near your property are likely to know someone – a friend, colleague or family member in the market for housing that they can pass your flyer on to. You may also attract the direct attention of a neighbor who is ready to buy or move up/down in their housing.

If you are local and don’t mind running around the neighborhood yourself, this method will only cost you a few hours plus the cost of printing. If you’re not available for the distribution, or just have better things to do, paying someone to distribute flyers is very cheap and incredibly cost effective if it results in a sale or a qualified tenant placement. Just remember to do a quick drive through of the neighborhood to ensure the flyers have been distributed if you’re paying someone to do it.

As for the content of the flyer, it’s worth it to take some quality photographs of the interior and exterior of the home. If your main selling point is the quality of the property, be sure to feature these in full color along with some of the basic specs of the home. If you are advertising a rent to own that’s a really great deal, make sure your analysis of the numbers is prominent and easily understood. Also, be sure to emphasize that this property is in their neighborhood and that this is an opportunity for them to choose their new neighbor. Lastly, don’t forget to include full contact information: your telephone number, fax number, email address and 24 hour recorded information line if you have one.

A more expensive variation of this method is to use direct mail to target your property’s neighborhood. Again, you’ll want to tailor your marketing message to let them know that this is their chance to mold the neighborhood by helping to select the new neighbors. To maximize your exposure, try using both flyer and direct mail distribution methods, timed several weeks apart to make sure that as many neighbors as possible get your message that you have a great property for sale or rent in their neighborhood.

How to Create Fantastic Real Estate Flyers

As a Agent, Investor or a Homeowner that’s looking to sell your home or investment property, you need superior marketing material. What marketing materials do you use? Do you outsource your marketing? Is it time consuming and Costly? If you answered these questions with a YES or would like to take more control of your marketing campaigns to maximize your profit? Well, for myself as a Real Estate Wholesaler, I’m always looking for new and innovative ways to marketing my properties especially if it’s economical and I can have creative control over my marketing tools. For the past couple of years I’ve been using free software like Word, Publisher, Gimp and others to create flyers, email newsletters and updates. It was average but it worked.

This method worked but I wanted my properties and ads to stand above novice or even experience investors. I wanted something new, so one day doing a basic search on the internet I came across Turn-Key Flyers (Professional Real Estate Templates) which is PDF base templates that allow you to have professionally designed PDF Flyers for marketing. Real Estate flyers are the cornerstone to any complete marketing campaign to promote, advertise, and sell properties. Colorful flyers add integrity to your marketing efforts and business. Creating your own Real Estate flyer with Turn-Key will help you to display the advantages and benefits of your primary residents or investment properties in a visual manner.

Key Points

· Directly Edit on the Flyer

· Point & Click: Add/Replace Photos

· From Start to Finish in Minutes

· Unique and Creative Design

· Add Pazazz with Styling

· Open, Edit, Save As… PDF Advanced Template Technology

· You can Send via Email

· You can Print for: Open Houses, REI Meetings, Trainings

· Re-Usable, Versatility

· Works on BOTH Mac and PC

With Turn-Key Flyers they generated instantly and they can be fully customizable in Adobe. It’s Fast and easily editable templates to use over and over again. Simply fill out the form and upload your property photos. You can also plug-in your contact information, your business name or affiliation, and services you offer. For any flyer you choose it will always have an elegant and professional design while maintaining ease of use as a priority. For my investment properties I wanted potential homebuyers searching online or visiting an open house to go home and have something they could refer back to and helps them to remember what property they saw, not just throw my flyer away.

Do you use Email Marketing? It’s perfect for email marketing to attract potential buyers and sellers. In such a competitive market, it’s challenging to stand out from your competitors. Real estate flyers are printer friendly and have all the property information you would like potential buyers to view. Turn-Key flyers are ideal for anyone looking to market real estate; fsbo’s (for sale by owner), realtors, wholesalers, etc. Using flyers is easy and inexpensive and can be done for almost any type of property. So if you want to upgrade from unprofessional promotion and step up to the next level of Real Estate marketing then Turn-Key Flyers are a great one-time investment that you would see a serious return on money time and time again. Thank you for reading, Good Luck on Real Estate marketing future.

Real Estate Brokers – Divide and Conquer Your Commercial Real Estate Market

When it comes to winning market share as a commercial real estate broker or agent, it pays if you can divide up your market or listing territory into segments. In this way you can then focus your marketing efforts and activities.

Results in commercial real estate come from systemised focus and you have limited time available each day for prospecting and marketing.

It is a fact that you cannot be everywhere at once when it comes to prospecting and networking. As an individual broker or agent look at your market and consider the following facts:

  • What is your specialised property type?
  • Where is your market?
  • Why should people do business with you?
  • How can you cover the sales and listing territory?
  • What is your competition doing now with marketing?
  • What is your market share and how did you get that?

When you answer these questions quite clearly you can soon see the strategies required to move ahead as a top agent or broker in your local area.

So let’s look at some rules that can help you divide and conquer your local area for increased commercial real estate activity and opportunity.

  1. Determine a key service that you will be focusing on. That could be leasing, sales or property management. You can also have combinations of sales and leasing, or leasing and property management.
  2. Build a marketing package for your ‘key services’. Carry that package of information with you so you can connect with new people at any opportunity. Practice your scripts and dialogues for your ‘key services’.
  3. Identify and set up your main primary territory for new business based on local area growth and opportunity. The primary area of focus should give you 80% of your business. Assumptions should be made on the local area and how it is changing.
  4. Determine geographical or road boundaries that contain your primary area of focus. From that you can determine the desirable and active zones for sales and leasing activity. You can also determine the better streets and properties to connect with.
  5. Your territory is likely to contain many properties and businesses. On that basis split up the zone into segments of 100 properties. Segment by segment (each of 100 properties) you work through the local area to identify owners and businesses. Talk to more new people every day in those zones to identify property change and opportunity.
  6. In addition to the above strategies, connect with property developers and franchise groups separately. You never know when they may require a new location or parcel of land to build on.

New agents and brokers in the industry need a system to proceed and attract clients and property listings. This process will be a very good start in doing that. You can modify it to suit your market circumstances.