Tips On Choosing Property Projects

Property Selection: Tips On Choosing High-Converting Projects

From analyzing market trends to evaluating potential returns, this article covers everything you need to know to make informed decisions and grow your real estate portfolio.

As a realtor, you play a crucial role in helping your clients make sound property investments. 

With the wide range of new launch condominiums available in the market, it is important to guide your clients to select the right property that will yield high returns.

So, how should you make your decision?

While there are many factors to consider when selecting a property, here are the key metrics you should take note of:

1. Check the price tag
2. Well-known developer
3. Select sizeable units
4. Is there hype?
5. Comfortable district
6. Clientele matters

1. Check the price tag

One of the most critical factors to consider when selecting a property project is the price range of the residential unit.  

It’s recommended to focus on properties priced around the $2 million range. 

Condo units around this pricepoint are likely to attract high-end buyers or tenants, who are willing to pay a premium for quality properties with excellent design, amenities, and finishes. 

Properties that are priced too high are not recommended as it comes with its own set of challenges. 

Firstly, if you’re aiming for high-net-worth buyers who have the financial means to afford either a condo penthouse or landed property worth $3 million and above, you must be familiar with both the expertise and knowledge associated with said properties.

This may include zoning regulations, land ownership issues, and building restrictions for landed properties.

Also, this target audience is usually a smaller, limited pool of buyers. It will generally take longer for you to land on such clients. But if you’re confident and determined to close on such leads, price should not be your limiting factor.

On the other hand, new launch condominiums that are priced lower are generally more affordable and accessible to a larger pool of buyers. 

However, this also means you would face higher competition from other developers and realtors.

Therefore, it’s important to consider the potential challenges and limitations of selling properties at different price points.  

Pro tip:  Be sure to carefully assess market conditions, demand, and potential risks when selecting a property project based on its price range to maximize your profitability.

2. Well-known developer

Another important factor to consider is the developer behind the project. 

Investing in a property by a reputable developer can significantly increase your chances of high returns.

Some of prominent developers in the industry include CapitaLand Limited, City Developments Limited and UOL Group Limited.

Such developers often have a proven track record, and are more likely to deliver quality developments with excellent design and amenities. This boosts buyers’ confidence in the project’s quality, which helps the units to sell faster.

Also, established developers often have the resources to invest in high-quality design and construction. As such, the finished properties are typically more attractive and functional to buyers.

And let’s not forget about their large marketing resources, which helps to further drive interest and visibility for a new launch property project. This includes promotional campaigns, events, and other initiatives that can help attract potential buyers and generate buzz.

3. Select sizeable units

Choosing a project with a significant number of units available is a safe bet. 

Ideally, you should be looking for a project with 500 units and more. Try to avoid anything below 300, as small projects may not offer the same range of amenities and facilities as larger projects. This can limit the appeal of the development to potential buyers.

With larger projects, you may have multiple swimming pools, gyms and recreational areas, which is more attractive to buyers looking for a range of amenities. Additionally, larger projects will also be able to offer more services such as in-house concierge, security, and maintenance aids.

Above all, the biggest perk of marketing a large project is that you have higher chances to close more deals without spending extra on marketing. 

In other words, you get to maximize your advertising budget to its fullest potential!

4. Is there hype?

Don't underestimate the power of social proof.

If there is a high level of excitement or buzz surrounding a particular project, people would start getting excited about the new launch. And as the anticipation builds, others are more likely to join in too. 

Hype can be driven by many factors.

It can be the developer’s reputation, the location of the project, the range of facilities as well as amenities it offers, or the pricing and affordability of the units.

So how can realtors determine whether a new launch condominium project has hype or not?

One way to find out is to look at the level of media coverage and online buzz surrounding the project.

Are there news articles or blog posts about the project? Are people talking about it on social media? Are there any online forums or discussion groups dedicated to the project?

If your project ticks all these boxes, you’re more likely to receive a high number of interested leads. 

Pro tip: Try leveraging useful tools like 8ambrief to sniff out highly-anticipated properties! With the latest real estate news in the palm of your hand, you can easily identify worthy new launches, as well as up-and-and coming neighbourhoods. 

5. Comfortable district

It’s good to pick a district you are familiar with - this includes areas where you live or work at, as well as places where you’ve previously made sales. 

This gives you an edge over competitors as you are more aware of a potential buyer’s needs in the area. 

As a result, you can successfully tailor your advertising efforts accordingly.

But that’s not all! 

Having a better understanding of the area, its amenities, and the market demand for properties in that location is also necessary to provide better customer service to potential buyers.

Here are a couple things to note in your next new launch marketing campaign; 

  • Amenities in the neighbourhood
  • Public transport - MRT stations, bus stops
  • Shops, supermarkets, restaurants
  • Primary schools within 1KM-2KM radius
  • Distance to CBD and other key areas of Singapore
  • Major expressways and highways
  • Hospitals & parks
  • Churches, temples, mosques or other places of worship

Pro tip: To identify districts that you might be more comfortable with, be sure to also look at your personal, professional networks, as well as existing contacts. Alternatively, check the areas that are currently popular among buyers that match up with your areas of expertise.

6. Clientele matters

Lastly, consider the profile of your past or current clients when selecting a project. This can help you determine the project that will sit well with them to help increase your chances of closing.

For example, if your clients are mostly young professionals, you may want to pick new launches that have a central location, modern interior design, and state-of-the-art facilities. 

Alternatively, if you’ve targeted families, focus on new launches with amenities such as playgrounds, swimming pools, and proximity to good schools.

Pro tip: Not sure which clients you should target? It’s simple really - start by looking at your existing client base and identify the types of people that you have been successful in attracting to previous projects! 

And that’s it!

Whether you need more advice on selecting a project or running a Google Ads campaign for it, we’re here to help! At SellMoreCondos (SMC), our digital marketing specialists have years of experience in producing quality real estate solutions. From user-friendly property microsites, to Google Ads, landing pages, and more, we help you reach your highest potential at affordable costs. Keen to learn more? Don’t hesitate to get in touch with our team!

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