Project Marketing for New Construction Real Estate

Instructor: Eileen Cappelloni

Eileen worked for the Orange County Asssociation of Realtors for 31 years. She has written real estate courses and exams for other publishing companies

This lesson will explain the importance of project marketing when working with new construction real estate, as well as discuss target markets, marketing and advertising plans, and marketing budgets.

Yesterday's Marketing Plans

Robert Davies is not new to the construction business, but he is new to the east coast of Florida, where he is planning to develop and market a 200-unit luxury home development. Had he done this 30 years ago, he could have built one house on speculation, taken out an ad in a local newspaper, hired an agent to sit in an office, and hope that someone would come in and buy a house there.

However, that is no longer the case. Let's look at what it takes to market new construction real estate now.

Today's Marketing Plans

Marketing plans today mostly consist of community involvement, interaction on social media sites, and the development and maintenance of a strong online presence.

Before Davies decided on a specific location to begin building, he researched the area thoroughly and learned that:

  • Successful construction companies advertised indirectly and with more sophistication than they had in the past. For example, he drove past several beautifully manicured gated entrances, and somewhere near the front entrance would be the name of the development, which always contained the builder's name, such as Kolbe's Creek, Kolbe's Canyon, or Kolbe's Cove. Hundreds of people passed these developments every day.
  • Builders were always active in the neighborhoods where they constructed homes and were often present at community functions and fundraisers, and they frequently sponsored local events.
  • They all maintained an active social media presence, and boasted about the quality of their construction, the spaciousness of their rooms, and featured video tours on their web sites.
  • They marketed and publicized all community events taking place in their neighborhood by creating blogs, putting links on their web sites, and using social media sites.

Effective Marketing Strategies

Before constructing a new home or community, most developers should choose the most efficient and effective marketing strategies to grow their business. Each builder should:

  • Decide their target audience. If they're looking to attract customers who are interested in modern designs and luxury appliances, let them know that that is exactly what their homes offer.
  • Brand their business. Make sure the logo or brand is professionally designed, and if they're trying to sell state-of-the-art contemporary homes, they should not create a logo that infers that the home designs are 'vintage' or 'classic'.
  • Hire an expert to manipulate proprietary, historical and public data to help guide the builder to develop a successful marketing and advertising plan.
  • Spend money and time to hire a professional to design an effective and attractive web site, take advantage of search engine optimization, and invest some time on marketing the company web site through social media.

Marketing New Construction

There are definite advantages to purchasing new homes that some builders fail to publicize when they market a new development. Although the prices of new homes are generally higher than older ones, there are a number of valid reasons to prefer new construction.

To unlock this lesson you must be a Study.com Member.
Create your account

Register to view this lesson

Are you a student or a teacher?

Unlock Your Education

See for yourself why 30 million people use Study.com

Become a Study.com member and start learning now.
Become a Member  Back
What teachers are saying about Study.com
Try it risk-free for 30 days

Earning College Credit

Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.

To learn more, visit our Earning Credit Page

Transferring credit to the school of your choice

Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.

Create an account to start this course today
Try it risk-free for 30 days!
Create an account
Support