Usually, when people think about building quality, they focus on the interior space as well as the overall layout design and environmental consciousness. These are great benchmarks to start with, but they are just starting points.
You have to understand that if you are thinking of buying a building or getting one built, it really all boils down to the people that you are going to be leasing those units to. This is especially true if you are leasing to residences or very picky businesses.
In fact, a lot of would-be real estate tycoons meet their financial end in the worst way possible. They come up with all sorts of amazing plans, but they never bother to validate it with the people that they are actually trying to serve.
You have to understand that the essence of business is all about serving others. As the old saying goes, if you want to get what you want, which is of course money, you have to first give people what they’re looking for. That’s how it works. That’s how you earn profits.
And unfortunately, a lot of real estate developers have been quite oblivious to this. They’re not aware that this is the reality, and this is why too many of them continue to struggle.
They put up their dream project and the occupancy rate is 50% if they’re lucky. It really all boils down to understanding your market and giving your market what it’s looking for.
Now, this might seem pretty straightforward and simple on paper, it might even seem like basic common sense, but let’s face it, unless and until you do some serious hardcore consumer research, analysis and consultation, whatever solutions you come up with will always be a day late and a buck short.
So do yourself a big favor, understand local regulations. Understand the local market, and reverse engineer your competition.
Pay attention to your most successful competitors. How do they serve their customers? What kind of value package do they come up with? What is their stock and trade when it comes to value proposition?
Because once you are able to wrap your mind around these concepts, you would be able to come up with a high quality building that people can’t help but lease.
I know that sounds crazy, I know that sounds like it’s wishful thinking, but this happens all the time. And it all boils down to a little bit of time, effort and energy spent at the beginning of the process.
You don’t want to spend millions of dollars only to find out that you need to backtrack and make some monumental changes just so you can get your money back. Talk about playing the game in the worst way possible.
Now, please understand that as more and more people become environmentally conscious, this is fast becoming a big factor in building selection. This is why it’s really important for building owners to invest in the best solar lights. This way, they can appeal to the growing environmental consciousness of their potential tenants.
Don’t be the last person to know, so get on the bandwagon today. Search online for the best solar lights and include this in your leasing strategy.