Jump to content

      









Photo

Victoria home prices and housing values


  • Please log in to reply
1814 replies to this topic

#1801 rjag

rjag
  • Member
  • 2,554 posts
  • LocationSi vis pacem para bellum

Posted 14 May 2017 - 12:11 PM

Walmart and McDonalds advertise every day. McDonalds places ads in their parking lot or windows even though you are clearly aware a McDonalds is there.

 

They require a recurring revenue stream to function, a home/condo not so much



#1802 Mike K.

Mike K.
  • Administrator
  • 35,539 posts

Posted 14 May 2017 - 01:31 PM

The real-estate industry requires just as much of a recurring revenue stream. Marketing takes on a different tone during different market cycles. There remains a need to promote one option over another under all circumstances.
  • rjag likes this

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#1803 rjag

rjag
  • Member
  • 2,554 posts
  • LocationSi vis pacem para bellum

Posted 14 May 2017 - 03:02 PM

Agreed that the industry needs to market themselves but that's different than individual properties which only require marketing once, there is no need to resell your property unless you choose to

Edited by rjag, 14 May 2017 - 03:02 PM.


#1804 VicHockeyFan

VicHockeyFan

    Super Moderator

  • Moderator
  • 44,428 posts

Posted 14 May 2017 - 03:18 PM

I guess my point is there is almost no time marketing is not potentially useful, when done right.  I mean for gosh sakes, gasoline stations advertise, and there is zero brand loyalty and hardly any price or discernible quality difference between brands.

 

When I sold real estate, we sold a fair amount of units to people that did not know, just days earlier, that they were in the market for a home.  So we did not just advertise in real estate publications.  

 

Same with this ad by Earl.  Ya, it's done poorly, but you never know.  Old Uncle Bobby sees the ad, calls his nephew, the RJH doctor.  "Hey Sonny, I know you said there was no new homes near RJH, it was all old stuff, but I just saw an ad for 2 brand new ones, did you know about that?  "Jeepers Uncle Bobby I did not know that! Tell me more!"


  • rjag likes this

#1805 LJ

LJ
  • Member
  • 7,019 posts

Posted 14 May 2017 - 07:55 PM

There is a new area of townhomes and SFH going in at the foot of Bear Mountain Parkway that says they will be $190 a square foot.

 

We will see as they start building what sort of quality they are.


Life's a journey......so roll down the window and enjoy the breeze.

#1806 dasmo

dasmo
  • Member
  • 3,815 posts

Posted 14 May 2017 - 08:29 PM

Most houses I watch go up use low end building materials. Even the high end homes. Mostly OSB and low end windows. It's almost a reason to buy a condo instead. Way better building quality going on in condo builds. This era will not be remembered or cherished like the Arts and Crafts era when it comes to Houses....



#1807 VicHockeyFan

VicHockeyFan

    Super Moderator

  • Moderator
  • 44,428 posts

Posted 14 May 2017 - 08:38 PM

Most houses I watch go up use low end building materials. Even the high end homes. Mostly OSB and low end windows. It's almost a reason to buy a condo instead. Way better building quality going on in condo builds. This era will not be remembered or cherished like the Arts and Crafts era when it comes to Houses....

 

I believe you are right.

 

Condos are held to a higher standard by engineers and insurers.

 

I can speak a bit to windows.  I was lucky enough to work for a company locally that re-sold windows from many manufacturers.  In fact we could buy and re-sell windows from almost any company.  The average builder picked the cheapest.  The interested home-builder was a better customer.  And could take the time to understand the benefits of a better window.  But they can not possibly understand it on their own, it needs to be shown to them.  Give me an hour with an intelligent homeowner/builder in the showroom and I can let them see what and why a better product works.  The builder does not do that.



#1808 LeoVictoria

LeoVictoria
  • Member
  • 1,615 posts

Posted 14 May 2017 - 09:10 PM

On advertising, I would be willing to bet that if one condo tower was advertised heavily and another didn't do any advertising (just signs on their building and a basic website), they would still sell out for the same prices at about the same speed in this market.

 

The reality is there are some 1400 realtors in this town scouring the market for new inventory.  It's not like any buyer is going to miss a new development going up, and it's not like advertising will cause a place to sell over market value.

 

This is entirely unlike advertising mcdonalds.  There are not thousands of hungry people that have employed fast food hunters to find them a burger.



#1809 VicHockeyFan

VicHockeyFan

    Super Moderator

  • Moderator
  • 44,428 posts

Posted 14 May 2017 - 09:20 PM

On advertising, I would be willing to bet that if one condo tower was advertised heavily and another didn't do any advertising (just signs on their building and a basic website), they would still sell out for the same prices at about the same speed in this market.

 

The reality is there are some 1400 realtors in this town scouring the market for new inventory.  It's not like any buyer is going to miss a new development going up, and it's not like advertising will cause a place to sell over market value.

 

 

 

I don't think so.  There is a perception.  When I sold condos, we sold from a very basic sales trailer propped up in front of the project.   Today, look at what Black and White spent on their sales showroom, or Sovereign/Duet/Escher etc.  They spend $100k on the sale centre.

 

If one place has no sales centre, no flashy website, no amazing glossy ads, the consumer will think it has a problem.  It's the reason Grey Goose sells vodka for 2x what others sell the same vodka for, that uses the same process.  You can apply this to designer fashion, MP3 players (what's that!?!), perfume etc.  Marketing sells perception, people.



#1810 LeoVictoria

LeoVictoria
  • Member
  • 1,615 posts

Posted 14 May 2017 - 09:46 PM

I don't think so.  There is a perception.  When I sold condos, we sold from a very basic sales trailer propped up in front of the project.   Today, look at what Black and White spent on their sales showroom, or Sovereign/Duet/Escher etc.  They spend $100k on the sale centre.

 

If one place has no sales centre, no flashy website, no amazing glossy ads, the consumer will think it has a problem.  It's the reason Grey Goose sells vodka for 2x what others sell the same vodka for, that uses the same process.  You can apply this to designer fashion, MP3 players (what's that!?!), perfume etc.  Marketing sells perception, people.

 

I agree that marketing works in general, but I also think that real estate is a bit of a special beast.   

If a new condo tower or townhouses or what have you comes on the market, hundreds of realtors notify their clients that are looking for this product to try to make a sale.   That is the actual marketing.   Now will a google banner ad make any difference?  Doubt it.

 

I do agree that a well put together showroom will make a difference.  I was referencing newspaper and online marketing.  

 

It is possible I'm assuming a more rational consumer than exists.


Edited by LeoVictoria, 14 May 2017 - 09:47 PM.


#1811 Mike K.

Mike K.
  • Administrator
  • 35,539 posts

Posted 15 May 2017 - 07:23 AM

Real-estate advertising isn't about selling real-estate. It's about selling a lifestyle and an opportunity.

 

I do think that the Internet has made far too many people think they are marketing geniuses because they can do the SEO and make the Google, lol.


Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#1812 VicHockeyFan

VicHockeyFan

    Super Moderator

  • Moderator
  • 44,428 posts

Posted 15 May 2017 - 07:34 AM

It is possible I'm assuming a more rational consumer than exists.

 

You might be.  Buildings that have nothing to do with Trump, pay to put his name on the building and it sells better, faster, for higher amount.  It's odd.



#1813 Nparker

Nparker
  • Member
  • 13,913 posts

Posted 15 May 2017 - 07:40 AM

...Buildings that have nothing to do with Trump, pay to put his name on the building and it sells better, faster, for higher amount...

Or at least they did...


  • kafkaesque likes this

#1814 VicHockeyFan

VicHockeyFan

    Super Moderator

  • Moderator
  • 44,428 posts

Posted 15 May 2017 - 07:46 AM

Or at least they did...

 

Most multi-millionaires lean the Trump way, so it's safe to say they still have value.



#1815 Mike K.

Mike K.
  • Administrator
  • 35,539 posts

Posted 15 May 2017 - 07:58 AM

The developer who licensed the Trump name for the Vancouver tower is pleased as pie with the results.

 

In that case, the name sold a lifestyle. And buyers lined up.


Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


 



0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users