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Why condo model units pay off big time

Why condo model units pay off big time

Traveling around Asia I can’t help but start to see similarities in successful real estate projects. One of the key denominators has to be a well fitted out model unit. That said, please be reminded all model units are not created equal.

Last week I was in Cebu and visited the sales deck at The Residences at The Sheraton Cebu Mactan Resort. There was not only an impressive sales area, but moving upstairs were private room to close deals and of course a social bar area agent events, and serve up drinks and snacks to prospective buyers.

Designed by Clint Nagata and the BLINK team, the facilities included two model units in both a one and two bedroom configuration, along with an impressive interior package and of course the style staging including personal touches like shoes in the closet and personal items.

Doing business in both the hotel and property space, as a hotelier I am used to doing mock up units at an early stage as it’s a lot easier to make changes to one unit instead of repeating it hundreds and time and end up costing huge sums in construction change orders.

The same goes for getting the model unit right and using it as a mock up in residential projects. Change orders are the demon of any building project, so pre-emptive actions clearly outweighs the perceived extra expenses of building the mock up.

From a sales and marketing perspective, the investment into a quality offering makes absolute sense and in my own experience great showcases typically assist and stimulate sales pace.

Another is creating curb appeal and a living breathing lifestyle element to a property sales facility. In Phuket Twinpalms Residences at MontAzure is a sterling example with the pairing of the HQ Beach Club. While the grand daddy of these type of mixed-use offering was Pace Development’s posh Dean and Deluca tie-up for the MahaNakhon Ritz-Carlton Residences.

The message here is just that, don’t only invest in sales materials but image, brand style and doing deals relates to bricks and mortar as well.

 

 

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Bill Barnett has over 30 years of experience in the Asian hospitality and property markets. He is considered to be a leading authority on real estate trends across Asia, and has sat at almost every seat around the hospitality and real estate table. Bill promotes industry insight through regular conference speaking engagements at key events and spends substantial time with his feet on the ground on research projects and gathering market intelligence. Over the past few years he has released four books on Asian property topics.

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