Why is it Important for a Builder to Plan a Project Launch?

“If you fail to plan, you plan to fail”.

 English proverb

Pre-launch is a terminology that has been coined in reference to the time period during which a project’s approval process is still in progress. It is the phase where the builder makes an announcement about the project proposals & also initiates the sales for the same.

Investing in a property in the course of a pre-launch state is beneficial to home buyers as it offers a good rebate on the overall costs. In other terms, when you invest in a pre-launch property you will not witness the actual property, but you will only see the proposed plan & layout. From the builder’s perspective, the pre-launch sale gives him insight & helps him gauge the current market scenario thereby smoothening things out for him in terms of anticipated response & fund flow before the project initiation. To sum it up you will see the property you are buying grow from a vacant plot to a beautiful structure you shall call home. Isn’t it wonderful?

While marketing a new project is a tedious, never-ending errand; let’s understand 5 reasons why it is important for a builder to plan a project launch to have better market positioning.

Build interest & create buzz for the upcoming project

Creating the buzz for new projects is the core goal when it comes to launching a new project. It helps the builder foresee & measure the pros as well as the cons of the project at hand.

Pre-plan your future marketing

By knowing who is going to be of assistance, who is going to be your target audience, which platforms are you intending to target & how exactly will you utilize each of your marketing channels, strategic marketing of the real estate project can give a great return on investment.

Reducing dependency on the market loans

Builders find it difficult to get bank financing without approvals, hence they raise funds at zero cost from the investors. Basically, in a pre-launch project, the sales process is started once the builder seeks mandatory approvals in terms of sanctions & RERA norms for the project. When buyers start booking & paying the booking amounts, the builder already has some funds on hand to start the construction of the project as soon as the approvals come in. This way the builder doesn’t need to depend solely on market loans or delay the actual project launch due to unavailability of funds.

Gives insight into the current market scenario.

Usually, the builders begin real estate by inviting bookings from old customers & local property agents, by offering them attractive discounts for a limited time period. This not only brings in smooth fund flow but also helps the developers gauge the market response prior to the formal launch.

Quicker launch & project completion.

Apart from offering the property at a discounted rate & providing the opportunity to capitalize on it, there is yet another benefit of having investors on board with a pre-launch project. Since the units are sold in their launch phase & the capital is available through pre-launch booking amounts paid by investors, one can expect the projects to one launched shortly once the approvals are in as there are slim chances of halting the construction of the promised project. Also, bulk selling as far as 70% of the project boosts greater confidence within the builder thereby significantly pushing him to deliver the project twice as efficiently & at a comparatively faster pace.

Monetize on the Goodwill.

With appealing discounts & multiple investors on board, the pre-launch of a project helps the builder create an undeniable reputation of his own. This not only helps with the easy sale of the project during its pre-launch period but also post-completion & sets a strong base for any upcoming projects thereby gaining him a strong reputation in the market.

To conclude, the pre-launch of a project is a profitable idea on the builder’s end & also investing in a pre-launch property is a sane idea when looked at from the investor’s point of view but it entirely depends on your risk appetite. However, investing in a pre-launch project is more suitable if you are looking to buy a second home at a discounted rate & also at the chance of capitalizing on it later on; with the security of already having the first home. You have to make a decision based solely on your risk appetite & the potential of the project to be successful & the trustworthiness of the builder. While making most of the pre-launch project, real estate developer and property buyer needs an effective interface that can act as a bridge to ensure pre-launch offers become ‘a win-win’ for both parties. That’s where Pyramids comes to the rescue of both parties with its market expertise in pre-launch marketing camping and customer mentoring. This positive engagement by pyramids leads to a positive market conversation ratio.

Hence, when it comes to utilizing the instruments of pre-launch, Pyramids is the ultimate go-to service provider.