Real Director of Marketing Md Kamruzzaman writes that in today’s crowded marketplace, even boutique buildings need a distinct brand identity to stand out and attract buyers and tenants.
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Branding campaigns have traditionally been the domain of large-scale developments and residential towers in New York City. But in today’s crowded marketplace, even boutique buildings need a distinct brand identity to stand out and attract buyers and tenants.
Whether the property is large or small, a well-crafted brand can make a property more recognizable and help shorten the sales and leasing cycle.
So, how can agents effectively brand boutique buildings to make them stand out amid the hundreds of NYC addresses? Here are three key strategies:
Understand your target audiences
The first step in branding is knowing to whom you are speaking. Who are the potential buyers or tenants of the building? Beyond basic demographics like age, gender and occupation, it is important to understand what drives your target audiences — their motivations, lifestyle desires and goals.
How does the property meet their needs, and how does your branding and messaging resonate with them?
Stand out from the competition
In NYC’s fiercely competitive real estate market, branding can be the difference between getting noticed and getting lost. Consumers often experience fatigue when scrolling through listings on platforms like StreetEasy, especially when every property looks the same. Your job is to differentiate your property from others in the neighborhood.
Analyze where your competitors are advertising, their unique offerings, how they present themselves — then identify ways to set your building apart, whether through distinctive floorplans, standout amenities or compelling digital content.
Develop an authentic brand identity
In today’s market, consumers crave authenticity. To create an authentic brand identity, focus on what makes the building unique and how it speaks to your audience. The goal is to evoke an emotional response and establish a brand that aligns with the lifestyle of potential buyers or tenants. Here’s how:
- Seek lifestyle brand inspiration: Don’t limit your inspiration to other real estate projects. Look at major lifestyle and fashion brands like Chanel, Hermès and Dior, for example, for cues on creating a compelling brand identity.
- Identify the ethos of the neighborhood: Understand the demographics and future trajectory of the neighborhood, including changes in commercial and retail development. Spend time experiencing the neighborhood as a visitor — potential clients will do the same. Explore local cafes, restaurants, parks and other amenities to get a feel for the area’s vibe, culture and architectural aesthetics.
- Create a unique brand identity: Once you have a deep understanding of the neighborhood, use those insights to shape the building’s brand identity. Elements like the building name, color palette, logo, and copywriting style should reflect the neighborhood’s culture, diversity and character.
- Utilize building architecture and design: The architecture and design of a building can be a powerful source of inspiration for the brand. Whether it’s the materials used for the façade or the building’s shape and how it fits into the skyline, these elements can inform a unique brand identity.
For example, our team at REAL New York recently branded a new rental building in the heart of Belmont, Bronx, named “The Arabella.” The building’s triangular design inspired the name — “A” for the triangular shape and “Bella” for its location in Belmont. As the only new development in the area, the brand exudes luxury, creating a new marketplace for a higher-end property offering.
In the current real estate market, especially one that is as competitive as New York City, branding is not just for the big players. Boutique buildings, with their unique charm and character, can greatly benefit from a thoughtful and authentic branding strategy.
By differentiating yourself from the competition, understanding your target audience, and developing a brand that resonates on a deeper level, you can make your building a standout in the eyes of potential buyers and tenants.
Md Kamruzzaman, Director of Marketing at REAL New York, a full-service real estate brokerage firm. Connect with him on Linkedin and Instagram.