Stalled Sales? We Fixed It.
Melvista on Broadway is a collection of 25 high-end two, three and four-bedroom residences, set within a boutique community in Nedlands that is currently under construction.
This stunning community of apartments really resonated with the market for its location and design appeal, but when we took over the sales & marketing, we quickly hit a wall.
Sales were stagnant. Buyers weren’t committing.
Why?
Despite loads of interest, the current floorplan offerings weren’t quite resonating with the high-end buyers the development was attracting.
The market had shifted significantly since launch which now affected the current offering.
“We can’t visualise living in the current configuration as we feel we’ll have to sacrifice on the space we’re accustomed to living in”.
The original apartment layouts weren’t connecting with potential buyers, leading to a slowdown in sales momentum.
The target market for this project consisted of discerning downsizers and upgraders who weren’t prepared to compromise on size, functionality, or luxury. Their expectations were high, and they wanted a seamless blend of spacious living and sophisticated design.
Melvista’s apartment designs were very well considered in terms of luxury finish, but the market wanted more flexibility with their living spaces and the sense of a grandeur home…with the lock and leave benefits of apartment living.
Some of the apartment designs felt a little small to achieve that sense of grandeur, and even though the project attracted strong interest for its location and overall design, buyers hesitated and struggled to picture themselves in the final product.
We needed a fresh approach
Redesign the apartments
First, we took a deep dive into market feedback. Buyers were looking for something different. So, we reconfigured the apartment levels and floorplans to better align with buyer wants and needs.
The redesigned apartments emphasised open, functional living, paired with luxury details including custom-built bars for entertaining, integrated office spaces with custom joinery, luxurious ensuites with freestanding tubs, cozy master retreats with fireplaces, expansive sculleries, and other bespoke features designed for modern luxury
Allow buyers the opportunity to physically inspect the apartments, before completion.
Next, we took a bold step in creating a Virtual Reality walkthrough.
Instead of guessing, buyers could now experience the apartments before they were built.
They walked through rooms, stood on balconies, and got a real sense of space and layout.
The result?
Buyers connected emotionally with the space. They could even visualise furniture placement.
And it worked.
Buyers were more confident and committed earlier. Plus, they had the chance to customise their apartments before construction moved too far along. This is a big bonus that not too many buyers are aware of.
Attract prospects with more buying intent.
We revamped our marketing. But we didn’t just cast a wide net. We honed in on key buyer groups: professional couples, retirees, and Western suburb upgraders.
Our primary goal was to align the redesigned elements with buyer needs, highlighting that “we listened and heard your wants… meet the new Melvista on Broadway apartments that have been personalised for you”.
Virtual Reality played a key role in allowing buyers to experience the apartments firsthand, conducting their private inspections of the newly designed apartments.
This fresh, targeted approach sparked new interest and brought in prospects with a lot more buying intent for a product that ticked all the boxes.
The apartments sold so quickly, we paused marketing activity!
The results were impressive.
- Within four weeks of relaunching, we secured an immediate sale.
- Cut to four months post-relaunching, another six apartments had been sold.
- We redesigned schemes and sold an entire floor of apartments that nobody wanted.
- We increased the sales conversion rate by 743%.
- The developer requested to pause marketing & sales activity opting to hold back stock to sell closer to completion, to attain higher margins as demand grew in the market.
The right tools, the right strategy.
By combining a redesign, Virtual Reality, and highly targeted marketing, we helped turn the project around for the development team and attain a 743% increase in sales conversions.
These elements worked together to engage the market more effectively.
Buyers could see themselves living in the space. They felt confident to commit early. And, as a result, we hit our sales targets in record time to reduce the development overheads for the project team.
We were wrapped to deliver this result!
Setting up your own Digital Display Suite.
Ready to see results like a 743% increase in sales conversions for your project?
By setting up a Digital Display Suite with cutting-edge Virtual Reality tools, you can engage buyers early, accelerate sales, and maximise your returns.
We also provide a comprehensive development consultancy service designed to ensure your product, designs, configurations, specifications, and pricing strategy are setup from the outset to achieve the best possible return.
This covers everything from accommodation configurations and finishes to yield optimisation, product mix, and market suitability. We assess buyer demand, project positioning, and pricing based on detailed market analysis and provide guidance on staging, launch strategies, and feasibility studies.
Get in touch with us today to discover how we can bring your development to life and fast-track your sales success. Schedule a consultation or request an in-person viewing of one of our current projects showcasing this powerful technology. Let’s make your project the next success story!
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