Challenge

Following a year long marketing effort by another marketing firm, TriBeCa had met with only marginal sales results notwithstanding the developer’s impressive vision. Despite dynamic project attributes such as progressive design, an enviable location and an urban grocer downstairs, it was clear the current marketing communications and sales program was ineffective at resonating with prospective buyers. So how was the developer to improve the perception of the building and engineer sales absorption without appearing to reposition the building all together?

Solution

The developer hired Realogics to replace the former team with a strict objective to optimize TriBeCa’s marketing and sales program. The brand messaging was enhanced with original photography, all new marketing tools and more effective advertising that build a new groundswell of interest. Extensive co-broker programs reinvigorated the Realtor community to build endorsement and provide a full appreciation for the enhanced offering. New product categories such as open one bedrooms and city flats were invented to differentiate TriBeCa’s unique floor plans (which are now commonplace in Seattle). New model homes were cost-effectively developed to showcase the project’s attributes. Extensive media coverage was engineered providing TriBeCa with the rightful credit as being Seattle’s first truly mixed-use community.

Results

In fewer than 60 days from retention to result, Realogics reintroduced Tribeca’s brand and engineered over 50% pre-sales at above-proforma values. The impressive sales momentum continued through sellout, which ultimately resulted in increasing overall project revenues that exceeded the developer’s original proforma while remaining within the provided marketing budget and schedule.