In today’s pandemic world, marketing new real estate has forced us to rethink and retool. The days of joining hordes of chequebook-waving buyers into sales centres, and getting caught up in the excitement generated by these gatherings, are on hiatus. Marketers and sales people have had to get creative and rise to the new occasion. And indeed, we have – through virtual sales centres, online buying, downloadable brochures, site plans, floorplans and easily accessible virtual walk-throughs. It’s now not only possible but it’s easier than ever to buy a home online.
What hasn’t changed is the need to build qualified registrations in order to create a robust database of potential buyers. To sales people, this list is gold; it is their most important selling tool. As marketers, we focus on getting people to register. Our success is measured in the number of registrations a project receives. Our greatest success is measured in the ratio of conversions of these registrations to sales. Obviously, getting qualified, motivated registrants into a database takes very specific knowledge and expertise.
But what’s in it for individuals to register? Why should someone seeking to buy a new home or condo, register? There are three important reasons to do so.
1. Early notice
If you’re interested in buying and you want first choice of homes, lots, suites and views, it’s smart to register. As a registrant, you will receive information about the project before it opens to the general public. You will also have the opportunity to buy before the public. Typically, registering for a project is the “call to action” on ads, in social media, on signs and flyers. Prospective buyers simply click on or go to a website that provides a form for them to fill out.
2. Personal preferences
Registering your interest includes filling out a form that asks you about personal preferences for number of bedrooms, family size, type of home you are seeking and your price range. This helps the sales team that receives your information send you relevant choices, which makes the process more efficient.
3. Promotions and incentives
By registering, you will be first to receive information about promotions and incentives that the builder makes available from time to time. Some developers offer significant incentives to their registrants – such as free parking spaces, lockers, appliances, E-bikes and large cash discounts, including decor dollars on upgrades. People who don’t register really miss out on excellent opportunities to save money and receive valuable inclusions.
Why do people hesitate to register?
Our research shows that people who hesitate to register are afraid of being harassed by sales people and pressured into buying. They are afraid they will receive non-stop emails about the project that will clutter up their inbox. They are worried that their personal information will be compromised.
The reality is that, in most cases, a registrant has to ask for a sales person to contact them. The advantage of talking to a sales person is that you get the information directly, and you can get all your questions answered.
Most often, registrants will receive email updates about the project every other week. As the project gets closer to opening, these emails might increase in frequency to provide you with the opportunity to buy before the official launch. Consumers can opt out of receiving these emails at any time.
People who are concerned about having their information compromised can easily protect themselves by setting up a dedicated email account to register their interest in potential projects. By doing so, you not only limit your exposure, you can also easily shut down this address when you no longer need it.
The advantages of registering far outweigh any disadvantages. Registering provides the ability to save thousands of dollars, get first choice of product and receive incentives and upgrades that are reserved specifically for registrants.