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In today’s edition, I outline an ultra-successful residential apartment sale of an invisible building. I do this not to brag, but to outline what it is like when everything clicks.
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Selling The Invisible Building - A Tale of Success
Let me describe an ultra-successful sale of an invisible building.
9 a.m. was rapidly approaching, the early appointments had checked in, savouring their coffee and cake and anxious that they would be able to purchase the apartment they wanted.
The sales suite was set up, the staff were focused and ready to work as a team to sell out the 150 apartments that the project had to offer.
At 9 a.m. sharp, the doors opened.
Clients had 30 minutes to decide which apartment to buy and complete the contract of sale. As the first appointees entered the sales suite, sales rep Olivia raced up to the front announcing Unit 6A was on hold and she now had 30 minutes to sign up the contract. 8A,7A,10A,3A and 12A followed suit.
It looked like the market wanted the 2-bedroom apartments on the West side of the building.
Six of the six appointments had made their selections and the 9.30 a.m. appointments would only have levels 1,2,4,5,9 and 11 to choose from. In preparation, we removed the six 9 a.m. sales from the pricelist and increased the price of the remaining west side 2 bedders $20k each.
9.25 am and we congratulated the 9 am purchasers and welcomed the six 9-30am appointments.
This time it was Peter who broke the ice “Please hold 1A, then came 4A,5A,2A,9A, and 12B.
Another six down and the East stack was being considered. Only one west side apartment remained for 10 a.m. clients, so time to reprice. 11A rose another $20k and we also moved all of the type B East apartments $10k upward.
Let’s bring in the 10 am clients…
On and on the sales day went.
By 5 p.m. that afternoon, 95 apartments had sold - all of Building 1 and now a solid chunk of Building 2 had been sold, and we still had another full book of appointments for Sunday. We could sense a sell-out by lunchtime tomorrow and we still had another 36 clients after that who had reserved their place for an apartment viewing at $5k each.
Come noon Sunday a whopping $250 million of off-the-plan apartments had been contracted.
In our efforts, we also earned the developer an extra $350k by incrementally tweaking the price list based on market demand. The day had been a huge sales success.
OUR TAKE
When it clicks and all of the ingredients are in place, Selling the invisible building is as simple as lining up the supply to meet the demand.
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