COLDWELL BANKER NEW HOMES RAISES THE BAR WITH INNOVATIVE MARKETING STRATEGY AT SUMMIT PLACE

Award Winning Sales and Marketing Firm Utilizes Proactive Approach To Sell Nearly 90% of Initial Phase of Homes at Union County Condo

SUMMIT, NJ – Utilizing an innovative sales and marketing strategy designed to offset today’s challenging residential housing market, Coldwell Banker’s New Homes Division has successfully sold nearly 90% of the homes in the initial phase of 25 upscale condominiums at Summit Place in this sought-after Union County township.

The Parsippany, N.J.-based residential sales and marketing firm achieved the results thanks in large part to a proactive approach that carefully considered the needs and desires of the marketplace during the design process, notes David Schoner, Vice President of Coldwell Banker’s New Homes Division.

The company began market and product studies at Summit Place in 2009 — two years prior to the official sales opening of the community located off of Summit Avenue and much earlier than usual for a new construction sales program. Company officials conducted multiple focus groups to determine what prospective buyers were looking for in new homes, as well as what was important to them in the buying process.

“From the day site work began at Summit Place, there was significant interest from local residents, many of whom weren’t necessarily in the market for a new home at that time,” says Mr. Schoner.

“We decided to establish a remote office early on and invite these residents in to discuss topics ranging from why they were interested in the project to what their motivation would be when looking for a new home; what finishes and appointments they would desire and what pricing structure would be attractive to them. For those who had already been considering a new home purchase, we talked about other communities they’d visited and how they felt about the home buying process in general.”

The feedback proved to be invaluable, with many thoughts focused on the often overwhelming task of choosing interior selections. This spurred Summit Place’s developer, Mark Built Homes, to make a key decision in its development approach.

“It was clear from the outset of the focus groups that people were frustrated and anxious about the daunting task of choosing finishes in a new home,” says Mr. Schoner.

“To alleviate these concerns, streamline the process and give buyers what they were looking for, we created seven distinctive selections packages that couldn’t be mixed and matched, making the homes semi-customized while eliminating much of the stress. Simply put, we asked buyers what they wanted in their homes in terms of tile, cabinetry, lighting and more, and the developer set out to build it.”

The end result was a hit. In fact, 50% of the homes in the initial housing phase at Summit Place were purchased by those who participated in the focus groups when sales opened in April of 2011.

“From the builder’s standpoint, we took the guesswork out of the process by providing them with actual, objective evidence of what their potential buyers would want in a new home,” Mr. Schoner points out. “By saving them time and money and delivering a product we knew our buyers wanted, we were able to achieve impressive sales velocity at a time when most new-construction developments were not successfully capturing the market’s attention.”

The initial phase of homes at Summit Place is situated in an elegant four-story elevator building notable for its classic brick and stucco exterior. A second phase of condominiums is in the early stage of construction with sales expected to open in early 2013.

Priced from the upper-$500,000s to $1.2 million, the remaining single-level homes in the first phase include a 1,0001 square-foot one-bedroom condominium with den, a 1,458 square-foot two-bedroom home and a 1,611 square-foot two-bedroom residence with a massive 889 square-foot outdoor terrace. The homes boast soaring ten foot ceilings, gourmet kitchens with custom wood cabinetry, granite or quartz counter tops and backsplash and KitchenAid appliances; and master bathroom suites with lavish master baths featuring marble or stone floors and Kohler sinks, baths and fixtures. Each home includes outdoor space.

In addition to the luxurious homes, Summit Place’s appeal also stems from its desirable location in one of New Jersey’s most recognizable small town environments and just steps from the NJ Transit Summit Train Station. The community is a mere two blocks from the Township’s downtown district which offers fine dining, quaint boutiques, and local shops and services. Recreation also abounds within the Township with numerous community parks, open space, turf and natural grass playing fields, running tracks, 3 par, nine-hole golf course and family aquatic center. Residents will also find some of New Jersey’s exciting cultural venues nearby, including the New Jersey Center for Visual Arts, Summit Playhouse and the Reeves-Reed Arboretum with formal gardens, woodlands and more.

“Summit is also easily accessible thanks to major highways and public transportation options minutes away,” Mr. Schoner adds. “In addition to the NJ Transit service which whisks daily commuters directly into Manhattan, Routes 24 and 78 offer easy access to Newark Airport and the many attractions of northern and central New Jersey.”

For additional information on Summit Place or to schedule an appointment to visit, please call 877-559-1302 or visit www.summitplacecondos.com.

ABOUT MARK BUILT HOMES

Led by President Michael Markovitz, Mark Built Homes has been a renowned, award winning family-owned business for more than three generations. The company is responsible for creating distinguished neighborhoods of all kinds, ranging from luxurious single-family estate home communities to magnificent townhomes and well appointed condominium offerings. Recent successful developments include The Heights at Tenafly and Pheasant Crossing in Basking Ridge and Bernardsville.

ABOUT COLDWELL BANKER NEW HOMES

Formed in 1988, Coldwell Banker New Homes Division features a dedicated group of specialists to oversee the management and marketing services of new home construction. With the combined resources of Coldwell Banker, the New Homes Division assists the entire builder/developer/investor community and satisfies all real estate needs. Under the direction of Vice President David Schoner, the division represents more than 250 builders in the tri-state area and offers a portfolio of 100 new home projects annually.

 

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