Question: How do you turn a development of new homes into the most popular properties in town?
Answer: Tell people they can’t live there.
This seems to be the property marketing strategy of nightclub owner Nick House, who this week revealed that his upcoming £10m development in London’s West End would target only the coolest consumers.
In an article in the Daily Mail, Mr House confirmed that the first residents of the project would be “hand-picked” for their cool credentials.
The developer revealed that he envisaged the homes being occupied by successful thirty-somethings working within influential industries , from ad agencies to tech start-ups.
Psychological Principles Help Sell Property
And while some may feel that the plan has more in common with social engineering than selling houses, few will be able to deny the power of the reverse psychology when it comes to pushing these properties.
Indeed, being told they might not be cool enough to buy one of the properties in question has massive potential to mobilise London’s movers and shakers to ensure their names are on the list when it comes to dishing out the keys.
Sales Strategy Works Across Property Market
And the strategy seems to translate across the market as well, with estate agents in the US reporting success with homes removed suddenly for sale – prompting previously fence-sitting buyers to come forward with offers they had been unsure about advancing until the property became unavailable.
Property marketing professionals are, however, warned to use the strategy sparingly.
“No one like to be manipulated into buying by clever use of sales psychology,” explain marketing experts SalesSense.