There has been a recent development in property development industries in Melbourne with new apartment and townhouses being constructed at almost every street corner. With the growing population in Melbourne, properties have never been cheaper with a standard 3 bedrooms’ compact home going for $1million + in the market. These newly developed properties required to be sold, need to look unique to attract buyers and that is where my team comes in. We take care of the creative, marketing and advertising aspect of your development. We put in our best to market your property. Though it sounds simple (set a budget, gives us a brief and we deliver) but a lot of effort is put into sales to give our clients the maximum satisfaction they desire. Not all sales agent can handle this and do a sincere job. Some take advantage of the opportunity of ignorant developers to maximise profit which will then be directed to their accounts. Such case has been observed with CBRE. Let me give an account of my experience iv had with them.
First dealing with CBRE
After going through a brief for an apartment complex in Oakleigh with a due date of March 30 2018 for the release, I created a strategy and timeline to get things done leaving behind rooms for any changes that needs to be done to the creative and marketing collateral. Though was my first big project, a month into startup with a team of 6 including I. After the developer had picked the concept he liked, we got to work. The Brochure, Flipbook with floor-plans and website for registrations got looked at and approved.
Issues however arose from the CBRE’s marketing executive who was appointed to look over the designs. She looks over, then criticises everything from layout to logo to colour to style, every little bit of it she wanted changed. The question that began to strike my mind was why is she in charge of these decisions? when CBRE’s previous input and choices failed to sell over 50% of properties for the same developer. I took on this task so we go with a whole different approach and strategy with the target of selling 100% of the properties on release day. But it happened that she wanted go down the path of creating collateral that is done via a template and looks exactly the same as 90% of other developments in Victoria. Currently we are behind schedule with April release development as CBRE continues to slow down the projects as they are still making changes to designs and convincing the developers about their choice.
Sales agents are threatened by new marketing strategies
This experience got me thinking about why sales agents try and take full control of your marketing for a development project? This is because they have other property developers like you they are working with, that needs their properties to be sold. So what a sales agent like CBRE do is, they have a database of potential home buyers and investors. They evenly distribute all the available properties from all there developer clients to the buyers. Which sounds ok because you get the same exposure to customers as any other developer does. But the major issue comes in when they go to the extent of discouraging buyers from purchasing your property and direct them to another property that may not be selling well enough for them to get there commission. This becomes a domino effect as once those sales reports come in and it says there has been only 40% properties sold, the sales agent will direct the blame in other directions such as: location of property, size, price, and even at the design work.
This experience has taught me a lot. Don’t take on a project because its paying well, try and get as much information about the project, go and meet the entire team you are going to work with. Extract as much information from your potential client so that third party agencies don’t try to sabotage the work. Look at other avenues so market your property and do solid research about good sales agents and most important of all, make sure that your design agency has full control over design decisions. Because at the end of the day their commission is what matters and not your work.