***Marketing Secrets for Real Estate Success

“I don’t just build to a market. I create the market. I deliver to my customers more than they expect.” - Donald J. TrumpnnThe secret of marketing properties all comes down to three letters: MVP. If you make the property you have to sell into an MVP, you will sell it quickly and profitably.nnSo what is an MVP? Simply put, it is a Most Valued Property that delivers to its target customers the specific features that they want, and that they are willing to pay for.nnTo be a true MVP, your property must be more attractive than anything the competition is offering at a competitive price.nnHow to Build Your MVP PowernnYou create an MVP by following these three steps:nnStep one: Get to know your customers. You might already know what they want. If you don’t (or if you might be making the wrong assumptions), talk to tenants or property-buyers who fit the demographic of your target consumers. Conduct focus groups to learn what they are looking for. Interview realtors and other professionals in the area and ask them what buyers and renters are looking for. Don’t spend money on the wrong things, like installing a roof patio when what tenants really want is a state-of-the-art security system.nnStep two: Study your competition. Tour competing properties and note what you see. Then check your list against my list of Key Property Differentiators (which follows below) to identify the features that can make your property an MVP.nnStep three: Include non-physical benefits too. An MVP also includes exta assets, such as a spotless lobby, a well-staffed sales or management office, a cheerful doorman or superintendent, good security - and an upscale, service-oriented level of service for buyers or renters.nnAnd now for my list of the key property differentiators that can make your property in an MVP. Offer as many of them as you can - especially those that are not being offered in competing properties - and you will leave your competitors behind.n

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• Appliances (quality, quantity)n
• Attitude, dress and skill of sales or rental staffn
• Carpeting/floor coveringsn
• Ceiling heightn
• Cleanlinessn
• Closet spacen
• Color schemes/aestheticsn
• Decks/patios/balconiesn
• Electrical outletsn
• Emotional appealn
• Energy usage/efficiencyn
• Entryway conveniencen
• Fireplacen
• Furniture (in lobbies, rental offices, model units)n
• Heat/air-conditioningn
• Image/reputationn
• Kitchen functionalityn
• Kitchen pizzazzn
• Landscapingn
• Laundry facilitiesn
• Lighting (exterior, common areas)n
• Living area floor plann
• Natural lightn
• Parkingn
• Physical conditionn
• Quality of finishesn
• Quiet/noisinessn
• Room countn
• Securityn
• Speed of tenant approvaln
• Square footagen
• Storage spacen
• Types/style of windowsn
• Viewsn
• Window coveringsn

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nGary W. Eldred, PhD, has been involved in hundreds of real estate transactions as buyer, seller and consultant. He is author of many best-selling books on real estate. Dr. Eldred created The Real Estate Investor Training Program for Trump University.