Gen Y changes the property game

Gen Y changes the property game
Gen Y changes the property game

GUEST OBSERVER

Today’s millennials are fast turning their backs on traditional marketing, instead choosing to consume and interact through virtual reality, but their willingness to buy into the imaginary and immaterial has real life conversions.

Long before the Pokémon renaissance took full effect, Marshall White Projects was reinventing the way off the plan properties are marketed and sold to Gen Ys and Millennials.

This generation has changed the game; they are heavily reliant on the digital sphere and entrust it with major life decisions.

People plan dates, book accommodation and apply for jobs with people they’ve never met and in places they’ve never been, online every day – so why would we expect any less of them when it comes to purchasing property?

This demographic is more accepting of the off-the-plan model and accustomed to investing in sites unforeseen, so what is it that makes them take the plunge, swipe right and commit to the unknown?

Aesthetics. They say a picture speaks a thousand words and for a time-poor generation with a shorter attention span than a goldfish, it isn’t any wonder that digital assets are outperforming traditional marketing strategies.

These buyers are far savvier for having grown up in a digital landscape, their discerning tastes transcend the physical with renders, fly throughs and 3D floorplans of greater value to them than a stagnant display suite.

With this in mind, Marshall White Projects took 308 Carlisle Street to market without a display suite nor budget for print advertising. Each of the 45 apartments were sold in under six weeks, with the majority of purchasers aged between 25 and 35.

Drawn to the bohemian Balaclava location, buyers were enticed by a refined sales campaign that simply put forth the advantages of a well-connected lifestyle and an apartment of prestige.

It’s not the first time Marshall White Projects has proved its ability to earn, not buy results in an overly saturated market. Earlier this year the agency sold all 27 luxury apartments at High& Spring in the same timeframe without any traditional or digital advertising and achieved a staggering sales average of approximately $1,050,000 per apartment.

Buyers are overloaded with choice and bombarded with advertisements, which has made them less perceptible to traditional marketing tactics. This as an opportunity to better invest the hundreds of thousands of dollars developers would spend on lavish display suites into innovative alternatives that are not only cost and time effective, but more authentic and impactful.

In order to be effective you must know your audience, what they value, who they trust, where they source their information these things often hold more significance than their gender or profession and allow us to develop tailored marketing strategies that resonate with our buyers on a deeper level.

Our integrated approach simplifies the sales process and leverages technology, videography, photography, renders, brand partnerships, and direct marketing to achieve a far more cost effect result within the shortest possible time frame.

Leonard Teplin is director, Marshall White Projects and can be contacted here.

Tags: 
Off the plan Residential Market

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