From Concept to Closing: Creating & Delivering Product in a Competitive Market
This course reviews the three stages of bringing new residential multifamily and condominium product to market, from concept to closing. Each of the six modules in this course will focus on a different phase of the overall residential marketing & sales/leasing process, (1) beginning with product development, (2) moving into marketing, and (3) ending with introducing the product to the marketplace for pre-sale/sale/rent. Course materials, lectures, and case studies provide a detailed investigation and analysis of the key disciplines and functional areas in the marketing process, including: competitive analysis; development programming; floor plan analysis & optimization; value engineering; pricing study & modeling; absorption schedule creation; target market identification & purchaser profiles; marketing timelines, schedules & budgets; comprehensive marketing plans & bring-to-market strategies; positioning statements; branding & collateral development; sales office development; critical path; and pricing & inventory control. Real estate advertising methods & outlets, sales strategies & training and community development also will be touched on. The course consists of lectures, reading assignments, case studies, and a final project. Cases and assignments will include a competitive analysis, floor plan analysis, target market identification, marketing budget & timeline development, pricing exercise & strategy, inventory control exercise, and a final Marketing Plan incorporating all these elements.
You'll Walk Away with
- A framework for completing a competitive study to determine development programming, suite mix, amenities & PODs.
- Tools to identify target market & how to create a product that attracts them to garner maximum pricing & velocity in the marketplace.
- The fundamentals of how to develop, analyze, compare, & improve residential floor plans (value building, utility).
- The ability to position the product in the marketplace with a comprehensive marketing plan including timelines, branding & collateral development, & go-to-market strategies.
- An understanding of the components of pricing & inventory control to optimize sell-out/rental strategy.
NO open sections available for this course at the moment. Please check back next semester.