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Lessons Learned in
the Real Estate
Development Process
Jennifer Nevitt Casey
Bravo Strategic Marketing, Inc.
• Supply
– The most innovative product design will be
absorbed the most quickly in the marketplace
– Product design should focus on
customer’s “Quality of Life” solutions like
sufficient parking and hot water, security,
abundant natural light and storage, water
pressure, noise abatement and energy
cost reduction
• Demand
– Location, Location, Location
– Employment Drives the Success of
– Fluctuation in Interest Rates Creates
Fluctuations in the Depth of the Market
– The real estate developers with the most
talented teams will sell the most inventory
with the fewest discounts, talented teams
are paid well with tremendous
compensation packages
• Demand
– Commissioning a third party market
research study/ due diligence is the most
important step a real estate developer
takes after the land is under letter of
– A consumer’s ease in finding, viewing and
visiting your product is essential for you to
capture the available demand in the market
• Internet 24/7 Global Market Place
• Product Offering
– Until your product offering is locked down,
don’t open a sales center or advertise your
product; losing credibility in the market
will slow velocity exponentially
– Focus your energies on opening the sales
center and model with a locked down
product offering; the market is more
sophisticated now and won’t buy what it
cannot see
Best Practices
• Sales & Marketing
– Product design should focus on
customer’s Quality of Life solutions like
sufficient parking and hot water, security,
abundant natural light and storage, water
pressure, noise abatement and energy
cost reduction
– Measure the results; we cannot manage
what we cannot measure
• Product Presentation
– Build the infrastructure; roads and parking
to the sales center and model park – ease
in parking is critical to the success of
– Invest in fabulous state-of-the art signage
and landscaping; your curb appeal defines
your success in sales
– Open the Sales Center
– Open the Model Homes
Hurry, Hurry………….. WAIT!
• Market Introduction
– “Burning off the bliss”- many developers
emotionally attached to their deals are anxious
and push to start advertising and marketing in a
state of fear well before the sales center and
product is ready to sell. Don’t waste your time,
money and precious energy on announcing to the
market too early. A patient, well orchestrated
plan that goes to market after the product
specifications are locked down will have the
market’s respect.
Best Practices
• Sales & Marketing
– Sales & Marketing budgets today are
approximately 10% of Gross Sales
Potential; no longer is 5% of sufficient
– Talent+ is a great tool used by Ritz Carlton
to profile potential sales team members
– Be careful using ad agencies that insist on
their logos being predominant on all
collateral and marketing materials
PromotionResidential Marketing Budget Allocation
Labor- Sales Team
Real Estate Brokerage
Traffic Generation
Marketing Administration
Interior Design Interest Carry
Marketing Consulting Fees