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Residential Development: building homes or selling homes?

At Andrews we understand that developers come in all shapes and sizes, from small one-man-band outfits to multi-national corporations. Being a developer attracts people from many different walks of life, not all are ex-builders, but one thing they all have in common is their entrepreneurial spirit.

But what is being a developer all about? That’s easy, it’s about building great homes, isn’t it? Well of course that is one very important step, but there’s definitely more to it. Being a good developer is also about selling your homes, and it’s this final point that is often forgotten. Some developers build a great homes and then forget the final step which is selling it.

Successful marketing of new homes begins earlier than you might think, so if your agent is involved from the outset of the project then can be a real benefit. Your agent should be experienced and knowledgeable about the development and market, so can advise you on many different areas. Agent’s advice can lead to a product and project that is more saleable and therefore commands a higher value.

In addition, good marketing comes at a cost. Allowances for site signage and hoardings are just the beginning – there’s bespoke magazine and social media advertising to allow for, a brochure or virtual marketing tool and for larger schemes or higher value homes, an excellent show home is obligatory. Your agent should be advising on these additional aspects of marketing your development to make sure your development is reaching the right people.

All in all, there’s lots to consider, but we’re here to help and remember – it’s the selling that’s the ultimate goal.