& Answered Questions
First and foremost, we specialize in sales and marketing; however, with the recent changes in the market, we’ve developed an integrated, full-cycle development company that contributes to every aspect of a development, from funding to amenities to product design all the way to turnover to an HOA. And our involvement is at the most granular level.
Engagement can be at any point in a life cycle. Few teams are more experienced or successful in land sales. But we frequently take over programs that have stalled and need both direction and invigoration. This can include substantial reimagining of amenities; for example, turning that second golf course into a nature and activity trail.
A better question is with whom does it start. Development is a high- risk endeavor, and too many projects start with a vision of the product and amenity set instead of the reality of ROI. Is the return in the entitlement? In conservation easements? Is it selling off parcels to builders? What are the range of price points? The competitive set? And where are we in the global economic cycle? Are we phased for downturns? When monetizing the land, perspective and experience say start with the buyer.
There are innumerable paths, even for projects already underway. These can include feasibility studies, bringing on new price point product or reimagining amenities. And we’re always looking for ways to differentiate to speed absorption. This goes to brand and personality. As we participate in the development program, we contribute on every level.
We are diligent at every phase of development, especially early on in minimizing risk for all parties. Scenarios are developed to model different profiles that include price points, scope and timelines for amenities. The optimal program is often different than a development team had envisioned. We continually stress-test assumptions, plans and tactics.
However difficult, the sweet spot is when everyone cedes a bit of control. Equity groups don’t usually share a developer’s vision of a fully amenitized lifestyle community. Likewise, builders are focused on their own product offerings. It’s as important to align perspectives as it is to not let products get out of control.
A good question. Teams in silos are a recipe for disaster. Brands and positions, tactics and schedules are built for sales. And every tactic and message needs to be continually honed. Only a dedicated, integrated team can deliver this. General brokerage simply can’t deliver because they are conflicted by other projects and they rarely have the depth in house to deliver both analytics and creative marketing.