Buyer/prospect tenant feedback outcome

Dear Friends,

Over the years, we have helped more than 550 residential projects come to fruition throughout Australia.

And part of what we do, in our efforts to ascertain what works and what doesn’t, involves focus group research.

Here’s some of what we’ve found:

Resident feedback from apartment renters and owner-occupiers tells us that the most important features of an apartment complex are as follows:

• Location
• Design aspects
• Security
• Onsite management
• Aspect/views; and
• Resident facilities.

The main dislikes are:

• Noise-related issues
• Substandard quality
• Slow or faulty lifts
• Parking problems
• Lack of storage; and
• Poor apartment design.

In order of preference, the most important apartment inclusions are:

• Quality ducted air-conditioning
• Useable balconies
• Car parking
• Ample storage; and
• Wireless technologies.

In order of preference, the most important complex inclusions are:

• Security systems
• A mixture of uses and services on site
• Minimal waiting time for lifts
• Swimming pool; and
• BBQ/communal entertainment area.

Buyer feedback is what we undertake on behalf of clients, with people who have expressed an interest in buying apartments “off-the-plan”.  Often the most valuable feedback relating to the sales and marketing of a new project is gained from people who did not end up buying.

Here are some of our findings:

• Brochures are often too generic – “Could have been advertising any new apartment project”
• Most brochures failed to show the exact location of the proposed new apartment tower and how it related to the local area
• The lack of pricing information is very frustrating – most people want as much relevant information (pricing, floor plans, body corporate fees etc.) up front so they know if the project is worth looking at
• People hate receiving pricing advice that turns out to be misleading
• Previous buyers expect to receive special offers and do not want to have to prove their bona fides all over again
• Illustrations of apartment interiors, colour schemes and display furniture often do not appeal to the (older) target market
• Kitchens and bathrooms seem often to be designed by men, not women
• Many buyers thought the cost of additional storage space was excessive. Some noted they could purchase over-car storage cages themselves much cheaper; others thought they shouldn’t have to pay for storage anyway, seeing it is such a basic design requirement
• Developers generally don’t stress their track record highly enough; and
• Many potential buyers object to the pressure they feel they are put under by sales staff, particularly at the official launch of a project.

So, our question to you is, what have we missed?  Is there something on your list of likes or dislikes that would compel you to buy or rent in one project over another?  Is there something in the sales process that you have found really helpful, or really sticks in your craw?

Best regards,

Linda and Carlos Debello

http://www.ljgrealestate.com.au

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