Real Estate Marketing Mix: The 4 Ps for New Developments

If you’ve been working as a professional marketer anytime in the last 60 years, you are likely familiar with the four Ps of real estate marketing: product, price, place and promotion.

The four Ps are often referred to as the “marketing mix” and encompass a range of factors that are considered when marketing a product. Introduced in the 1950s, the four Ps have provided a simple and straightforward framework for marketers in any industry, not just real estate, to consider when driving awareness and sales.

Today, MaxWave3D would like to introduce you to an updated version or “remix” of the four Ps (including a surprise bonus):

• Property tours
• Perfect pricing
• Paperless experience
• Photorealistic promotions
• BONUS: Partnership potential

Intended specifically for those in real estate marketing, these four Ps were created to help developers achieve the goal of leasing out apartments, condos and townhomes still in the design or construction phase. Let’s take a closer look into each of the four Ps to gain a better understanding.

1. Property Tours

According to Zillow, 53 percent of renters live in an apartment building and another 63 percent moved from a previous rental. This proves that there’s a lot of opportunity for developers to use the property tours to their advantage.

3D virtual tours make potential tenants and buyers feel like they’re actually on site. You can immerse viewers in your vision and free them to explore at their own pace. Additionally, developers benefit from attracting more attention to their projects by:

• Driving more buy-in.
• Increasing time-on-site analytics.
• Improving pre-sales and pre-leasing.
• Allowing potential residents to tour properties virtually. 

2. Perfect Pricing

It’s important for real estate marketers to establish competitive, yet lucrative pricing. Using a floor plan rendering or 3D architectural renderings for properties has become the backbone of real estate marketing. These visualizations are an essential component in obtaining the trust of renters and potential buyers. 

3D renderings are exceptionally useful for marketing developments that are still under construction. You can attract the attention of buyers and stakeholders, as well as help your lease closure rate on rental properties; no matter what phase of construction your development is under.

3. Paperless Experience

Optimizing online listings for maximum visibility is crucial for developers looking to attract potential tenants in the digital landscape. The elements will enhance the visibility of your online property listings:

• High-quality visuals: Using clear photorealistic visuals lets the world see your vision in high-resolution. 3D architectural renderings can enhance your marketing, impress stakeholders, provide accuracy in your designs and keep your marketing budget intact.

• Detailed online descriptions: Provide detailed and accurate information about the property, including features, amenities and nearby attractions. A well-written description helps potential tenants understand the unique selling points of the property.

• 3D property tours: As previously mentioned, leverage 3D property tours to offer an immersive virtual experience. This not only enhances the viewing experience but also sets your listing apart from others.

• Social media content: Integrate social media sharing options into your listings. This allows users to easily share your property on platforms like Facebook, Instagram, and Twitter, increasing its reach.

• Customer reviews and testimonials: Encourage satisfied tenants to leave positive reviews and testimonials. Positive feedback builds trust among potential tenants and can influence their decision to inquire about the property.

4. Photorealistic Promotions

Gone are the days of static two-dimensional drawings. Today’s architectural visualization technology takes your drafts to an entirely different level. The promotional use of stunning 3D visualizations to showcase your designs works wonders for property marketers, real estate developers and architects.

BONUS: Partnership Potential

Well-researched partnerships are the secret weapon in real estate marketing, and MaxWave3D encourages you to explore the untapped potential of collaboration. Forming partnerships with local businesses or influencers could be highly beneficial for your brand.

The Key to Successful Real Estate Marketing

By embracing immersive property tours and following the four Ps, you’ll not only meet but exceed the expectations of modern renters and potential buyers.

It’s not easy to capture eyeballs without high-quality visuals. An architectural rendering turns blueprints and building plans into three-dimensional images. Transform your architectural drafts into life-like,  true-to-design images of how your building will look after it’s built. 3D renderings allow you to create more sophisticated, effective and eye-catching designs before physical construction on your project even begins.

Immerse viewers in your project with virtual tours and use the four Ps of real estate marketing to drive more buy-in and increase pre-sales and pre-leasing for your property. Contact us today to transform the way you propose, market and finance your projects.