Project marketing is one of the most whispered about areas of real estate marketing in Australia. The breadth of duties covered by so called “project marketers” is often extremely involving and goes well beyond the expectations of the average real estate agent, although most project marketers get their start in such a role.
The team at Shape Your World were lucky enough to meet up with a few of the key team members from Ray White Project Marketing Queensland at a recent Project Marketing Business Luncheon and asked them what exactly project marketing is all about. So if you’re considering a role in real estate, this is a must read.
Thanks for chatting with us today Peta. Firstly, what activities would make up a typical day for a project marketer?
The average day does vary and it depends whether your looking for properties to sell or contacting potential buyers, although most days involve a bit of both. I like to start my day by hitting the phones and following up on all the potential buyers that I may have had come into the project office over the weekend. This is a good way to sort out if you have any serious buyers or perhaps just some contacts for the emailing list. Next up, I’ll contact the developers i am working with and give them a progress report on sales, enquiries, whether contracts have been signed, who we are waiting on finance from, progress with solicitors and so on. I try to do this by email mostly but do end up on the phone at least once a week. A staple activity for anyone in real estate should be cold calling. Whether it’s calling for buyers or working your way through the lists of developers on Google looking for new developments around town, being proactive is important.
How does project marketing differ from traditional real estate marketing?
We work a lot more with developers rather than just the public like your standard real estate agent. Building professional relationships and networks with developers in your city is a key component of the job and really can dictate if you are successful or not. Again, being proactive is important. you can’t rely on leads to come through your agency, even with an international brand like Ray White. We’re all constantly on the search for possible blocks for development and always looking at proposed development applications going through the council to find developers who need our services.
What else do your project marketing services include?
For some property developers we do a full market trend, feasibility and viability analysis report to make sure there is room in the market for the proposed development, although some developers have this done prior to engaging our services. In Brisbane at the moment though any new apartment developments are getting snapped up quickly! We then look to work out a pricing strategy for the development and make sure the design fits with the consumer profile.
After this initial phase, we obviously start selling the apartments, off the plan or through an on-site office or display apartment. Ray White boasts the largest agent network and client database out of all the project marketing agencies so we use our networks to push the apartments and have ideally aiming to sell them before completion.
Wow! Sounds like a lot goes into it. What would be your advice for anyone wanting to get into the project marketing game?
Do it! There is a lot of opportunity for success as long as you are willing to work for it! Build your professional network as much as you can and make sure you are everyone’s first call when they are looking to buy or sell!
If you like this post, don’t forget to check out the others in the series including Careers in Focus: Plumbers