New Austin Birch report assesses effective real estate marketing
Toronto’s top real estate advisor team shares insights into successful tools, platforms and messaging that helps developers cut through in a competitive market
Toronto’s pre-construction market has seen steady continued growth as buyers and investors have continued to purchase new inventory across the GTA and in the core. As anticipated, record-breaking condominium sale numbers are already being reported as freehold inventory numbers drop and prices reach all-time highs.
As the market continues its impressive growth, Austin Birch—Toronto’s top real estate advisor team—announced the release of its latest volume of The Austin Birch Report. In it, the team leverages its industry knowledge and considerable reach from its expansive broker network to help provide further insights into Toronto’s impressive real estate market and the current mindset of buyers in the city.
Noting an uptake in inventory purchases and a slew of new launches throughout the year, the report delves into how marketing and advertising affect these new developments. Here’s an overview of some of the report’s most intriguing points but, for an in-depth look, be sure to sign up for the full report at austinbirch.com.
Looking at Toronto’s current trends, Austin Birch notes that rising interest rates are having only a slight impact on the market with new inventory being absorbed quickly and at record prices. In conjunction with a steady stream of new launches at the beginning of the year and a large portion of new inventory slated for the second half of 2022, the market looks to be keeping pace with 2021.
The team at Austin Birch investigated how marketing and advertising were being used to help projects sell within this busy market. What makes some developments more successful than others? What techniques affect buyer behaviours? What media platforms are most effective?
When asked which development’s branding campaign was the most attractive to buyers, the report found that many brokers spoke to projects that provide comprehensive marketing packages. Developments that created a strong story around the community and provided ample resources for customers to interact with (lots of branding, expansive presentation centres and plenty of graphics and videos) received more attention.
Early informational launches were also celebrated, as brokers felt these events equipped them with the tools they needed to help create buzz for the projects. With this preparation and information available to them, the agents stated that they were able to sell projects much more successfully.
The report also discusses the importance of physical vs digital pieces. Although some clients may prefer something more tangible, the industry has moved to an online world—where everything is immediately and continually accessible.
Speaking to this, Austin Birch explores the prevalence of online marketing and social media platforms. More than 90 per cent of developers and sales teams use social media as a marketing tool. This is a considerable source of passive warm lead generation for brokers. Increasingly, digital marketing for real estate is at the forefront of the industry, getting assets in front of people quickly and efficiently while promoting buzz and engagement through powerful platforms like Instagram and Facebook.
Price per square foot, location and developer reputation have always been some of the most important information for buyers when making their final decision. But which of these is most important?
The report indicates that price remains paramount to the final decision for owners and investors alike, as this is an easily comparable factor against other projects and allows for calculating potential ROI. Of course, location shouldn’t be discounted as certain sites will encourage buyers to act on a higher price point.
Developer reputation, while still in the top three, took a back seat. There have been some concerns among buyers to find reputable developers, as recent media reports have highlighted cancelled projects; however, brokers found it was up to them to mitigate any fears. Though buyers appreciate the confidence that comes with an established builder, price and location are the key factors in the current environment.
Considering this particularly active market, Austin Birch explored what developers are doing to effectively stand out and stay ahead. Crafting the right story and positioning remains a powerful way to connect with purchasers while social media, digital marketing and ample materials go that extra mile to close the deal. This intermingling of message, media and sales teams shows tremendous results, and many are still hoping to dial into that winning combination.
At Austin Birch, the mission has always been to support clients so they can do what they do best: develop superb real estate. Working alongside the GTA’s top developers, Austin Birch takes a collaborative approach to pre-construction sales, working through every step of the journey with clients and creating custom strategies that serve the unique needs of each development. Connect with Austin Birch today to discuss how it can help create effective and impactful sales strategies for you. Austin Birch: Unthink Real Estate.
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