Improving the Public Image of a Property
Byline: Jordan I. Shifrin
A highly publicized crime, overcrowding, gang activity, a checkered past, etc., can have a devastating impact on a residential community. The real estate community may avoid showing property or convince sellers into cutting their price to sell a slow-moving unit. These types of issues have become an increasing problem for many older properties/communities where sale of units is as popular as a disease.
When an association is known for leaky roofs and faulty boilers, it is going to depress sales until something is done to correct the problem. The owners must be convinced, through effective communication (even salesmanship), that a special assessment is necessary to resurrect property values.
There are a variety of publicity and goodwill gestures that can be undertaken at minimal expense to give your property increased positive visibility and a better public image. The following are some examples of ways a property can remake its image, once it has repaired its construction defects and been given a face lift:
- Co-sponsor a fund-raising event (fun run, Olympics, world's largest garage sale, etc.) with a local high-profile charitable organization, i.e., American Cancer Society, American Lung Association, Juvenile Diabetes, Special Olympics, March of Dimes, etc.
- Change the name of the complex.
- Place ads on radio and in the newspaper promoting the community.
- Conduct a Realtors tour, offering a buffet lunch or coffee and cake.
- Install attractive entrance signs with an eye-catching logo, flowers and shrubs, etc.
- Create a Web site. …