What strategies are effective in instilling urgency in projects with a long life cycle, and no apparent scarcity of product?
If you do development right, the urgency comes not from scarcity of product, but from people’s desire to get in and start living the lifestyle as soon as possible. We work closely on the master plan, amenities, product type, and the overall brand and vibe of the neighborhoods (the ever-quoted “sense of place”) to help create communities people can’t wait to move into.
Wants not Needs
Especially in the luxury real estate market, the buyers we are after don’t “need” the home, or at least not right away, and they can afford an amazing home in plenty of communities. It’s what else is offered that makes the difference, how that is packaged, communicated, and delivered upon. That’s what compels them to act now instead of later.
This also points to why it is critical to know your target market — where they are, what they want, what they care about — and to closely listen to the ones who tour and purchase talk about what appeals to them. It’s one of the reasons we chose the name “Catalyst.” Our goal is always to put together the right components to cause a positive reaction.