The Importance of Real Estate Branding in Luxury New Developments
For nearly 30 years, the Otherwise team has worked with clients across the real estate industry to bring the brand of a building to life with unexpected insights and novel approaches that set the stage for meaning that endures.
Across the arc of our engagement with clients, we’ve learned that the work gets better when we thread the branding efforts through the entire lifecycle of a project, particularly new developments. At the outset, when a new development is just underway, elements of the brand may be the only tangible touchstone prospective buyers have. In the words of Cyndy Salgado, Executive Vice President of Development Sales & Marketing at @ properties, “When you’re selling new construction, you’re selling a dream, and it’s not there yet. Anything you can do to create confidence for buyers in their perception of the product will increase both sales and interest. A huge part of making that happen is the brand.” In the early stages of development, an identity and messaging system doesn’t just act as a logo for the building; it’s a visceral bridge between the vision and future residents.
As the building comes to fruition, buyers stay engaged as the brand takes on new executions and dimensions. New construction can take multiple years, and people’s lives change while they’re waiting. Branding can help people stay engaged, invested and connected to each other. As Salgado points out, “a sense of community can grow during the process. Whether that means sales gallery events or social media presence, the brand functions as a powerful buyer retention program. If you don’t have a great brand, buyers can lose resolve or become anxious about the wait.” Even before a building exists, branding can create camaraderie, community and connection.
And of course, once a building does actually exist, does the brand still matter? Salgado argues, yes. “All the aspects of a brand have weight and live on beyond sellout — the name, the logo, the palette, the messaging. A buyer is going to be proud of a great brand. It’s also important in terms of resale. The building trades better if its brand conveys a personality or lifestyle that has prestige and clout.” Branding a building establishes an impression that can last for generations, so it’s crucial to be strategic from the start.
In our own approach to branding new development real estate projects, we confront the complexities of our ever-evolving culture and diverse world, knowing this positions brands to survive the test of time. A fantastic brand isn’t just a simple marketing tool…it can create a legacy that is as monumental as the building itself.