Outside the box methods for marketing new condos

[VancityCondos]

Wondering if anyone has thoughts on amenities and various marketing initiatives used to attract buyers to new condo developments that are located in condo dense areas. I work for a developer that currently has a project in False Creek. They have pretty great amenities as it is, but are wanting to potentially add more services and branch out. Do amenities really help make or break a sale, and if so, what type of amenities would really set a condo apart as being special? Most condos are built with some type of fitness facility, club lounge, outdoor area so those are a given—I’m thinking more of a high end offering like wine fridge, shared wine cellar space, Rolls Royce service, squash court, etc… Or perhaps a service offering like a free car 2 go membership, turnkey service for investors (taking care of all property needs for free to set number of years, etc….). Personally I think once the basic amenities are covered, extras are ‘nice to have’ but It wouldn’t necessarily make me buy that condo vs. another one. I also think in the case of extravagant amenities like Trump Tower offering private plane service, that you are paying for it one way or another. So, what, if any, amenities or services would actually be helpful in swaying a buyer to purchase in one condo building versus another if all other things are equal?

[GMasterAres]

Well you pay for all amenities one way or another in your strata fees ultimately so the more there are, the more it costs you. They have to really be useful if it is a mid-market condo. In a high-market condo they can be ridiculous only because most people that buy into them are ridiculously wealthy or just plain ridiculous themselves.

Things like private planes for example or as you mentioned wine cellar space or Rolls Royce service I'd stick in the ridiculous pool but I'm not a high-market purchaser nor do I have enough disposable cash to bathe in.

I know for a few projects I've seen, bowling alleys funny enough typically end up being the most used amenity space next to the fitness center. I've also never seen a "community garden" in new condos which as a condo owner, I've actually been interested in. We seem to be doing them in neighborhoods, but it could be nice in an apartment to have something of that sort.

As for the rest, I don't honestly think amenities make or break a purchase. Location, price, and fit-and-finish are higher priorities in my experience.

[WarrenC12]

As an owner (whether living in or renting out), I'm concerned with the long term costs of the amenities, and also their usage.

Pools are a great example. They are very expensive to maintain, especially if heated outdoors, etc. They sound great but don't get a lot of usage.

Games and media rooms might be better. Something with a pool table, bar, etc. that can be rented out for parties. They are useful, and can almost be revenue generating for the strata.

One excellent amenity I've seen is guest suites in the building. Basically mini-hotel rooms with one-room area for a bed, and a bathroom. They are rented to strata owners at a minimal cost and a fantastic place for friends and family to stay. I would imagine they are also cost-neutral, and well used.

Car sharing arrangements seem like great ideas as well. I would also expect electric car charging stations to be a hot item in the near future.

[GMasterAres]

Originally Posted by WarrenC12

As an owner (whether living in or renting out), I'm concerned with the long term costs of the amenities, and also their usage.

Pools are a great example. They are very expensive to maintain, especially if heated outdoors, etc. They sound great but don't get a lot of usage.

Games and media rooms might be better. Something with a pool table, bar, etc. that can be rented out for parties. They are useful, and can almost be revenue generating for the strata.

One excellent amenity I've seen is guest suites in the building. Basically mini-hotel rooms with one-room area for a bed, and a bathroom. They are rented to strata owners at a minimal cost and a fantastic place for friends and family to stay. I would imagine they are also cost-neutral, and well used.

Car sharing arrangements seem like great ideas as well. I would also expect electric car charging stations to be a hot item in the near future.

I'd agree with you on the last two for sure. The new building I've purchased into, we just had our guest suite completed and had to put in a cost and maintenance structure (like a hotel) just because the demand is already here and we hadn't even announced its availability.

People are lining up to book it out so it will end up being a revenue generator for the Strata council from day 1. Car sharing and electric charging especially in Vancouver and the False Creek area would be a huge plus I think as you mentioned. That's the culture in that area and cars are still hugely beneficial from time to time. It would actually be great to have access to car share and not need to own a car since you really don't have to own in near-downtown Vancouver these days but there are times when having access to a car just makes life easier.

I'd vote car sharing/electric charging + guest suite over other fringe amenities. You're also spot on about pools. All the cities provide excellent and affordable recreation facilities with great pools and amenities already. Pools end up as you mentioned, being rarely used money pits for strata. Heck pools are quite costly to maintain in private residences.

Most people want and use fitness and games/party spaces. As mentioned, in False Creek and most of Vancouver specifically, car share/electric charging could be seen as a huge benefit. People just have to remember amenities cost them money every month in strata fees.

I've seen some buildings where strata fees for a condo are $500 a month. That's some peoples' rent out in the burbs. Nice when you have money and use them but you still pay ultimately and have to account for it in your monthly finances.

[Smooth]

My wife and I have been casually looking for a new and larger condo and I would also say that some amenities can be a turn-off if we think that they will add significant increases to the strata fees.

Things I would see at a plus:
- dedicated & secure bike parking (could be at the end of a parking stall)
- electrical charger in parking stall
- well secured storage lockers (no chicken wire w/ wood frame type storage)
- smart home features (i.e. smart thermostats/smoke alarms/door locks and/or conduit for network wiring)
- pre-installed >1 Gbps internet service (OneGigabit or equivalent)... this is far more enticing than free cable TV for a year
- wine/beer fridge
- full size oven
- gas range + gas hookup outside on balcony
- hose bib on balcony
- communal workshop/art room
- visitor parking
- car wash/dog wash area
- communal roof-top patio with BBQ & garden plots
- over-height ceilings

Negatives:
- Pool/hot tub
- Media room

[officedweller]

I think you'd do better with well designed suites rather than trying to add perks.

Think lots of in-suite storage, including lots of kitchen cabinets (go thought the bucket list i.e. cabinets or drawers for: pots and pans, plates, bowls, mugs and glassware, serving ware, canned goods, dry goods, cutlery, cooking utensils, foil and wrap, and cleaning supplies.) and big bedroom closets.

Minimal hallway space (which equals wasted square footage).

That's if your target market is live-in buyers.

[jlousa]

Only amenity I currently care about is Workshop Workshop Workshop.

Like others said spend the money on the units, hosebib on patio, electric charger and regular power outlet in every stall, we don't have the need for block heaters but think of everything else you can use, vacuum cleaner, air compressor, battery tender etc...
would love to see someone create a residential condo with nfc locks so you can use your smartphone not just for the elevator but to access your own door.
Smart thermostats and almost cheap enough not to skip.
Also love my washer/dryer in one as you can never have enough storage space, build out closets to maximize space so the buyer doesn't need to spend $5K after the fact to have California closets come in and do it.

[VancityCondos]

I work in project marketing for condos and recently got into a discussion with a coworker as to whether or not innovative tactics or hooks actually make a difference when marketing a condo. For example, there is a developer (Selynn), who is giving away a condo—most likely the cheapest unit of the development. To enter to win, you have to take a tour of their suites, and if you end up buying, receive more ballot entries. In another project I worked on, we launched a young designers competition and a separate video competition. The design competition short listed up and coming designers to decorate our suites with the public coming to view and voting on their favourite, and the video competition was open to everyone to film a short story about the development. They were both cool and innovative ideas in my opinion, but did that translate into more condo sales—I don’t know although it certainly increased traffic. I also recall a developer in Surrey building a glass suite in a mall and hiring actors to live out life there, showing how the small spaces work.

Wondering what some of the more interesting marketing ideas you’ve come across with condo marketing, and if you think it actually helps to promote sales or not.

[nds88]

I would like a set of keys like my car. I never have to take it out of my pocket (or purse for women). When I get near the door and put my hand on the handle, it unlocks. This would great for the lobby door/elevator, even my front door if possible. Maybe even the garage door too. Really useful when lugging groceries upstairs so I wouldn't have to to put things on the floor to take the key out and scan the fob.

Since condos tend to be small, I have limits on guests for parties. Given my larger family size, I have to split things up. There is a lounge room to host parties, but it only has a dishwasher so we can't cook or heat things up. It would be great it there was a common kitchen with stove, fridge and large dining hall. The only problem I can see with this is idiots not turning things off, not cleaning up properly or abusing the appliances because it is not theirs.

The guest suites are also heavily used and the board rooms (with WiFi) are frequented as well.

The gym is great and I use it regularly.

I would much rather have sacrificed the roof top garden and replaced it with BBQ and tables.

Give me a decent parking spot, or at least certainty when I buy the unit. None of these garbage spots that barely fit a smart car or in some awkward corner with a pole in the way. Abundant visitor parking too.

[cornholio]

Well since we are all building mostly 1 bedrooms I would say a child rental coop or if thats not possible a puppy rental coop, that and a brothel.

Anyways, to be serious: What would attract me would be a stripped down building where you choose the amenities within your unit and the buyers choose the amenities within the building once they own the skeleton. This seems to be how its done other places I have gone. This allows for flexibility and makes it more difficult to gauge a buyer. Having said that nothing currently would entice me, well except a large discount that would make the numbers work.

[Vanelevatorman]

Anything that increases traffic to the show home or display suite should surely have a positive effect on sales, if only to get the public interested in something they previously didn't think was for them, or to just have the conversation (also possibly about another project).

[s211]

How many duplicate threads like this do we need?

Frankly, this discussion may be more suitable for LinkedIn's Vancouver real estate group.

[nds88]

Originally Posted by cornholio

Well since we are all building mostly 1 bedrooms I would say a child rental coop or if thats not possible a puppy rental coop, that and a brothel.

A puppy rental coop is perfect due to my schedule. I would love a weekend/evening dog to walk and play with along the sea wall, then return it after a few hours once he has helped me pick up a few chicks

Does something like this even exist? I was looking into volunteering as a dog walker at the SPCA but they haven't had any openings for the last few months.

[LeftCoaster]

I merged the new thread with the old thread since they were the exact same thread, started by the same fourmer, and one didn't belong in the project updates section.

This is an interesting topic to discuss, but please don't spam the forum with it.

[Alex Mackinnon]

How about selling condos at a reasonable price without a whole bunch of BS marketing?

Sounds pretty outside the box to me.

[connect2source]

I like some of Smooth's ideas.

One amenity absolutely essential is electric car outlets at each parking space metered to the suite. How are condo dwellers supposed to ever enjoy the benefits of electric or electric-hybrid technology without outlets?

There's absolutely no need for media rooms anymore, we've all got 40" + TV's in our suites, pools however, especially roof-top seem to making a comeback much to my dislike.

[milomilo]

Originally Posted by Alex Mackinnon

How about selling condos at a reasonable price without a whole bunch of BS marketing?

Sounds pretty outside the box to me.

Agreed. I can't believe this blatant usage of the forum for some douchebag developer's commercial gain is tolerated.

What Vancouver needs is affordable housing for it's residents, not upmarket amenities for rich investors.

[theKB]

Did one harbour green ever implement their "shared ferrari" amenity? Seemed like a disaster waiting to happen.

[Vin]

Originally Posted by connect2source

I like some of Smooth's ideas.

One amenity absolutely essential is electric car outlets at each parking space metered to the suite. How are condo dwellers supposed to ever enjoy the benefits of electric or electric-hybrid technology without outlets?

There's absolutely no need for media rooms anymore, we've all got 40" + TV's in our suites, pools however, especially roof-top seem to making a comeback much to my dislike.

Very much agreed! I wish mine has an outlet too. However, I heard that strata can hold referendums to upgrade the parking stalls to be electric-car compatible. Just drill a little trench by the wall, lay cables and patch up.

[red-paladin]

Thanks LeftCoaster.