We’re in the midst of a building boom fueled by the media. Headlines boast that U.S. housing prices are rising. Yet, nothing could be further from the truth. Most housing reports assess large metropolitan markets and use the average change in sales prices of homes that sell rather than how the current value of a home compares to its pre-recession peak. Two-thirds of the U.S. housing market is still in a recovery mode. (421/425)
For housing developers who need to maximize their projects’ pricing and sales velocity, or attain full occupancy rates, that makes best-in-class research, analytics, planning and advisory services more essential than ever. And that’s exactly what ON Collaborative, the new onsite development marketing and sales division of Coldwell Banker Real Estate Services, provides for all residential asset classes.
With a team of experts who have decades of experience in every facet of residential development, and access to Coldwell Banker’s vast residential platform, ON Collaborative has the track record, resources and expertise to deliver an incomparable, full-service marketing and sales experience to residential developers. Obvious cases in point underscore the significance of these services.
For instance, location is kind in residential real estate, but today it’s not that easy for housing developers to know if they really have it right. That’s because this is the era of exacting micro-districts, especially for luxury condos. Being one block outside of a hot district can derail a project’s success.
Or how can a housing developer know if an aging high-rise is really a great value-add prospect; what the best micro-location is in a sprawling but urbanizing suburb for an active living project; and what kind of fixtures, finishes and amenities will yield the best ROI? Developers face mounting challenges in their quests to design, build and market housing that appeals to the right target markets.
And for good reason: this is an age of generationally driven wants and needs. The two biggest cohorts that are renting or buying housing—Millennials and Baby Boomers—are tough customers, each in their own way. Both want customization so spot-on it feels bespoke; sophisticated and constantly evolving tech; superior as well as unexpected amenities; high-touch building management and more—but geared to their proclivities and style preferences. Projects that have the wrong mix of unit sizes, amenities that don’t resonate with its targets, imperfect interiors, a deficient internet connection or outdated tech can linger on the market.
But a development’s success supersedes its site and design. What good is having it all without a sales team that can deliver? After working with countless housing developers in this industry, we know the importance of a outstanding sales team that’s dedicated to just one project at a time; knows the product inside and out; and isn’t distracted by competing projects that may interest the potential buyers they serve when selling a development.
For the reasons above, ON Collaborative will support residential projects of every sort and scale, from multifamily lease-ups or luxury condo conversions to large-scale vertical, single-family or townhouse developments, with the following services:
- Analytics that utilize proprietary tools and methodologies, and incorporate on-the-ground market knowledge of demographics and trends, to deliver in-depth data analysis and strategic recommendations on product positioning, design and pricing;
- Programming recommendations for every phase of a project, from site analysis, unit mix and amenities to branding strategies and integrated marketing campaigns to attract the right target market—or markets if more than one applies;
- Design insights to guide projects’ physical elements, architectural features, unit layouts, fixtures and finishes, based on intimate knowledge of available products and demographics;
- Marketing strategies guided by data-driven analytics that segments and profiles buyers, and campaigns that combine traditional tools with multimedia components to drive and optimize exposure and reach; and
- Onsite sales campaigns that are driven by analytics; executed by dedicated, rigorously trained sales teams; and use knowledge to create compelling narratives that covert buyers and maximize sales price.
Our unique combination of offerings and access to the nation’s #1 residential platform make us the industry leader—and ensure that the projects we support will be industry leaders in their markets.