Developing Real Estate Brands with Mark Natale
Real Estate Espresso Podcast recently hosted a discussion with Mark Natale, an expert in developing strong branding for real estate developers to differentiate their products in the market. The show’s host, Victor Menasce, engaged Natale in a discussion about his journey in real estate, the importance of brand and how this can be leveraged to stand out in a competitive market.
Venturing Into Real Estate
Mark Natale’s journey into real estate was initiated in the late 1990s in New York City. Prior to this, he worked for some top developers and was part of developing remarkable properties. His real estate experience originates from an operational standpoint, revolving around customer service and meeting expectations. This became a stepping stone into developing real estate brands, which he saw as an opportunity to distinguish properties in a world progressively shifting towards digitization.
Understanding Brand
Natale shares a unique definition of brand, citing Sergei Zeiman, the former Chief Marketing Officer of Coca-cola. According to Zeiman, a brand is a collection of experiences with a product. In real estate, this encompasses every interaction a potential client may have with a property, from the initial look on the website to touring the property in person. Natale uses the term “symphonic experience” to describe the harmonious interaction of multiple elements to create an impactful brand. However, the weakest link in this interaction becomes the predominant impression and thus, critical attention must be directed towards ensuring each aspect of a brand communicates the desired message.
| The Importance of Brand | Branding Challenges |
|---|---|
| Differentiation is one of the key benefits of a strong brand. It should add value to a product, thus enabling a higher charge perceived by the financial value it offers to the end-users. Natale explains that a brand should fit the consumer; it should reflect a part of the end-users that they identify with. This consideration is often overlooked but forms a central part in formulating the brand. | Natale recognises the challenges that some developers face in establishing a brand. Many hindrances arise from a lack of understanding on how to utilise and leverage a brand. Additionally, the creation of a brand requires a significant financial investment that can be hard to justify without tangible results. However, strong branding efforts generally yield equally robust returns. |
Differentiating in a Commodity Market
In a market saturated with similar offerings, differentiation may appear impossible. Natale urges developers to embrace their uniqueness and strive to do things differently. Developers must also be committed to developing something uniquely their own and investing in marketing efforts to promote this distinctiveness. If done right, the result could be commanding higher prices and better occupancies because the developers’ product stands out in the crowd.
Conclusion
Brand doesn’t just differentiate a product; it also enhances the experience for both the client and the staff. Brand work gives the staff an understanding of what they’re doing and why they’re doing it, thus improving their service delivery. This then extends to the clients, who are willing to pay more for the elevated experience that a strong brand delivers. To find out more about differentiating properties through brand work, you can reach out to Mark Natale at smartThinkingInc.com.
