Foul vs Caviar: Essential Real Estate Marketing Do's and Don'ts

In the dynamic real estate markets of Egypt and the Middle East, the path to success is paved with strategic marketing decisions. Over my 20-year journey working with top real estate developers, I've learned what elevates a brand from zero to hero. Here are the crucial do's and don'ts that can make or break your venture in this unique landscape.

Disclaimer: these are just my opinions on the market as is, not saying its a great system, there is room for improvement, however, until that happens there are best practices.

1. Do Invest in Building an Aspirational Brand

Insight: The real estate market is usually very polarized—you’re either selling caviar or foul (beans). The middle ground often doesn't yield substantial returns, and both yield great returns, however, one involves a lot more leg work and post sales client handling than the other.

Actionable Tip: Focus on creating a high-end, aspirational brand that resonates with affluent buyers. This requires significant upfront investment but results in 80% of your revenue coming from 20% of the effort. Don’t dilute your resources by targeting the middle market; instead, concentrate on delivering luxury and exclusivity.

2. Don't Waste Resources on Superficial Events

Insight: Hosting flashy events might grab temporary attention but doesn't build lasting relationships. Most event agencies will lead developers into this area to add to their portfolio of large scale events. Don't fall into that trap.

Actionable Tip: Prioritize genuine community engagement over one-off events. Develop programs and initiatives that foster a sense of belonging and loyalty among your clientele. Remember, meaningful engagement trumps fleeting entertainment.

3. Do Create a Sense of Belonging

Insight: People have an inherent desire to belong to something greater than themselves. Countries, clothing brands, car brands, the list goes on. Creating a brand with a set of values to aspire to, is something that connects with your clientele on a deeper level.

Actionable Tip: Cultivate a brand community where clients feel connected and valued. Whether it's through exclusive memberships, personalized experiences, or interactive platforms, making your clients feel part of a special group will encourage loyalty and advocacy.

4. Don't Hesitate to Spend on Marketing Early On

Insight: Some hesitate to invest in marketing without immediate proof of concept, but this can hinder growth. Most developers will fall into the chicken or the egg (or the sales or the marketing spend, in this case). Bottom line, you have to spend money to make money.

Actionable Tip: Allocate a consistent marketing budget as a % of the project expected revenue from the outset. Persistent visibility builds credibility and trust in the market. Even without immediate returns, sustained marketing efforts are crucial for long-term success.

5. Do Ensure Quality at Every Touchpoint

Insight: Real estate purchase is a big ticket item in peoples lives, and if you are selling caviar then your high-net-worth clients expect excellence in every interaction, especially when making significant investments. You want to avoid any disappointment or post-purchase dissonance.

Actionable Tip: Deliver top-tier quality not just in your properties but across all customer touchpoints—marketing materials, customer service, showrooms, and after-sales support. If you promise luxury, every aspect of your brand should reflect that promise.

Successfully navigating the real estate markets requires more than just a great product; it demands strategic marketing that resonates with your target audience. By focusing on building an aspirational brand, fostering genuine connections, investing in consistent marketing, and delivering uncompromised quality, you position your development for success.

TLDR: Marketing can help you sell the same amount of brick and mortar at a 10X premium.... if done right