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How Branding Influences Where We Live

How Branding Influences Where We Live

By Tuesday, 17 May 2016 07:30 AM Current | Bio | Archive

In a world where Kylie Jenner and Justin Beiber rule, there is reason to believe that hip and trendy can sell real estate.

“Hip sells because it makes consumers feel that they are part of a conversation and engaging with a hip brand is an attempt to belong in a specific place in society,” said Rachel Weingarten, author of "Career and Corporate Cool" (Wiley 2007).

To that effect, the quality of a real estate property’s brand can greatly increase its sales and rentability, which is why brands like the SLS in South Beach depict a lifestyle with pictures of opulent pools and spas, yoga classes, hotels and restaurants.

“Branding isn't just a logo or an image,” said Terry Slattery, president of ForRent.com. “It's an idea. Property managers need to enable potential residents to imagine themselves living in their apartments and what their lives might be like in the community.”

In Sunny Isles Beach, Florida, unit owners in the Porsche Design Tower can ride up three different elevators in their cars to park in a personal garage adjacent to their apartments.

“Fashion labels like Giorgio Armani and Fendi have leant their names to developers who are hoping to attract that type of high-net-worth resident,” said Ross Milroy, a real estate broker in Miami. “When these developers market their buildings, they are selling a community of like-minded residents.”

The tower is expected to cost about $560 million to build and will have 284 parking spaces for 132 units that range in cost from $4 million to $32.5 million.

“Brand exposure leads to more people knowing about your community and therefore talking about it both on social media and by word of mouth,” Slattery told Newsmax Finance. “We offer products so that current and potential residents can stay in communication."

Products include FRSocial Concierge, Community Messenger and Marquee ads.

“Updating a rental property’s logo can be key to keeping a brand hip,” said Drew Moffit, founder of NeedGrowth, a hacking consultancy and digital marketing agency that helps grow early stage startups and lower middle market companies.

For example, Moffit says the home exchange website AirBnB formerly used what looked like clipart as its logo but the website has since engaged in a massive overhaul. “AirBnb's logo is now pink, artistic and appears minimalist,” Moffit said.

Whether it’s a reality tv show or real estate, branding means staying relevant and celebrities perceived as hip and trending can help.

“The use of iconic fashion models, singers, musicians and movie stars brings instant brand identity and personality through association,” said Kerri Konik, CEO of brand agency Brandscape Atelier.

Juliette Fairley is an author, lecturer and TV host based in New York. To read more of her work, Click Here Now.

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In a world where Kylie Jenner and Justin Beiber rule, there is reason to believe that hip and trendy can sell real estate.
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Tuesday, 17 May 2016 07:30 AM
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