How We Marketed A 12 Year Old Resale Condo To Its Fullest Potential

With more and more people taking advantage of the bullish environment to cash out from their properties, competition is stiff to attract buyers who are willing to pay the prices that some owners demand for. This is all the more so as no unit is perfect – every unit will have its own shortcomings, and the task of marketing a property could also be made more arduous with its old age and short balance lease.

On this note, we cannot help but be reminded of an interesting case that PropertyLimBrothers once had the privilege to take on – we were given the opportunity to market a 12 year old, resale 3-bedder unit at the heart of Marina Bay. The golden question here is, how did we make this listing stand out in a crowded marketplace? In today’s piece, we discuss five strategies we used to effectively market this listing to its fullest potential.

Strategy #1: Storytelling

Everyone loves a good story, isn’t it? Hence, in order to better position the unit to attract viewings and buyers, we highlighted the background & history of the development. This suggests to the viewers that owning this unit means they essentially become a part of something bigger, something they can feel proud to be of… an exclusive club so to speak.

Some of the interesting backstory and history that we highlighted about The Sail @ Marina Bay were:

• historical importance of the Marina Bay area

• internationalisation of Marina Bay as a well-known financial district in the world

• its unique seismic design for mitigation of earthquakes’ impact

• how this development plays its part in the grand scheme of  Singapore Master Plan

All these were deliberately mentioned in the early segment of our Home Tour in order to capture the audience’s attention from the very start.

Strategy #2: Turning a Weakness Into a Strength

This particular unit was originally a 3-bedder, but its layout was subsequently reconfigured in a more efficient manner such that it became a “4-bedder” unit – and by the way, it is absolutely rare to see such a large-sized unit in the middle of the Central Business District (CBD).

In our video, we provided a before & after layout of the floor plan – suggesting that the next owner need not do anything much to renovate the unit further. These screenshots below show how the layout is now more efficiently utilized as compared to before.

We also highlighted the seller’s investment in the unit’s renovation (to the tune of $200k) to further cement the fact that the next owner merely has to prepare to move in and do not have to be concerned about the headaches of selecting new interior designs.

“Buy a 3-bedder unit but you actually get a 4-bedder unit instead!” – this also makes the unit sound like a bargain.

Strategy #3: Suggesting Possible Target Markets

To increase the attractiveness of the unit, we provided some perspectives on the potential buyer pool that would be a suitable match for this unit.

As an illustration, we recognised that one potential buyer of a larger-sized unit such as the one we were marketing could be a family with multiple children. We also highlighted the possibility for family-oriented activities to be carried out at the nearby Marina Barrage and Gardens by the Bay.

We also suggested other potential buyers such as:

• an expatriate family with children (especially if the parents work within the CBD area)

• an investor who might be looking to rent out the bedrooms to multiple tenants working within Marina Bay

• an owner-investor who is looking to stay in the CBD area and also defray the cost by renting out its bedrooms or doing a co-living space

• a foreign investor who is looking to hedge inflation by parking their liquid cash in a branded and iconic Singapore property

With this, we were able to enhance the appeal of the unit in terms of its exit strategy.

Strategy #4: Providing Artist Impressions & Alternative Layouts

One of the most crucial aspects we have to take note of when marketing a property is to put ourselves in the shoes of our potential buyers. While we wanted to emphasise the fact that the unit is well-renovated and in a move-in condition, we also took into account buyers who might still want to renovate and incorporate their own style into the unit.

We addressed this by generating “artist’s impressions” for them. We worked together with an interior designer to illustrate alternative layouts and other potential choices that are available to the next owner. The idea is to showcase the endless possibilities that may come with this unit.

Strategy #5: Presenter Becoming The Surrogate Buyer

Over the years, we have come to realise that the buying process is in fact very emotion-driven. We wanted the viewers to be still able to imagine themselves staying in the unit even if it was through the virtual means of a home tour video. Hence, we had the presenter himself become the surrogate for the buyer.

Watching him sit by the bay windows and stare out to enjoy the picturesque views in an introspective manner allows the viewers to feel what he is feeling. By emphasising on the fantastic views from different parts of the unit – we built up desirability and a longing to enjoy those views.

To Sum It All Up…

Through our video marketing efforts, one of the core objectives we hope to achieve is the transferring of emotions at scale, such as desirability, longing, and happiness. That being said, we also do not ignore the logical left brain as numbers and comparison analysis are still important to justify and provide balance in the buying process. For instance, we highlighted the cost savings in terms of maintenance fees and the typical amenities available in this development, as well as a comparison of prices of similar-sized units for sale in the surrounding developments.

We do not tell our buyers what is the best. Instead, we help them discover for themselves what feels right, what is most beneficial to them, and why the unit we are marketing could actually be what they have been looking for all this while.

We hope that this piece has given you some inspiration and insights into the property progression journey of someone living in Singapore. Should you be interested in engaging PropertyLimBrothers’ services to market your property, feel free to get in touch with us here, and we will get back to you shortly! In the meantime, take care and do keep a lookout for our next article!