Mike Brewer
What if EQR or some other major player bought Facebook or MySpace or Youtube or….
Mike Brewer · · 1 Comment
Well over 100 million of the prime renter segment flock to these spaces daily. What if a major apartment player owned the lions share of control over the advertisement rights? What would you have?
- The most amazing community building tool ever
- The most amazing resident portal ever
- A somewhat captive audience to market to forever
- Word of Mouth Opportunities that will exist forever
The way I see it is, why not go where the audience is instead of trying to bring the audience to you? Novel? Not at all but I don’t think it’s been executed in the Apartment space yet.
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Social Network aimed at Apartment Dwellers
That’s the hope of at least one new company, LifeAt.com,
which is putting a local spin on the social networking model. The
company creates password-protected Web sites for apartment buildings
and housing developments, allowing residents to post pictures and
profiles of themselves, share information about favorite local eateries
and gripe about slow elevators and peeling paint. [Read More Here]
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Apartment Review Sites; Friend or Foe, it’s up to you
Consumer Online Reviews Strongly Influence Purchase Decisions
According to a recent survey by Deloitte’s Consumer Products group, consumers are
turning to online reviews in large numbers, and those reviews are
having a considerable impact on purchase decisions. 62 percent of
consumers read consumer-written product reviews on the Internet, says
the report, and of these, more than eight in 10 say their purchase
decisions have been directly influenced by the reviews, either
influencing them to buy a different product than the one they had
originally been thinking about purchasing, or confirming the original
purchase intention. [Read More Here]
If your still of the school of thought that dismisses the value of sites like apartmentratings.com, listen up. The feedback outlined in the brief above should move you to action as soon as possible. I truly think we all should open up our company websites to include a consumer and resident feedback mechanism. Instead of internal score keeping, make it completely transparent and thus authentic in nature. I would suggest that you have an editor just for the sake of carving out names and character attacks as we know they will come despite our best efforts. That in mind you have to be courageous enough to leave the meat.
I would speculate that over time the likes of For Rent and Apartment Guide will have a feedback component. Sound crazy? At the end of the day, traffic is king and if traffic goes to the consumer feedback site more often then something will have to change. I think the likes of For Rent and Apartment Guide will have no choice but to become even more “potential renter-centric” than they are now. I would love to be a fly on the wall in those strategic planning sessions.
I will be keeping an eye on this topic. Have an amazing Monday. M
Related post: Apartment Reviews – Reimagined
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Apartment Amenity Essentials
Mike Brewer · · 1 Comment
Interior amenities;
Granite countertops
Slate floors
Custom cabinetry
Crown molding
Walk-in closets
On-site amenities;
Parking facility
Pool
Fitness center
Cyber cafe
Culinary demonstration kitchen
Resident
lounge.
In order to compete with the glut of condo’s and or because of the glut of condo’s, the above will be the new standard for Class A rental properties.
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The Real Estate Master….Sam Zell
October 20, 2007; Page A11
CHICAGO — In his office high above the Chicago River,
Sam Zell, the real estate virtuoso and master investor, is talking
about motorcycles. "I have had accidents over the years," he says, "but
most of them while standing still. I’m actually a very very good
driver." In case I look skeptical, he adds a sweetener, his wife’s
verdict: "Helen rides in the back with me and this is not Miss Bravery
or something," he says. "But you know, she won’t let me drive a car. I
get distracted." [Read More Here]
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