No two real estate development projects are the same - whether it be the market conditions, the location, the developer or any of the million and one details which go into planning a new development, it is not possible to have two identical projects. The most successful projects (and developers) understand this and start with a very strategic process to create an appropriate vision based on the unique elements of that project. They also effectively communicate this vision to all involved. So often, I’ve seen a great vision get watered down with planners, architects, or marketing and sales misdirection…so MAC formalized our ESP process to discover the critical vision for success and ensure all stakeholders and consultants work towards realizing this vision.

MAC ESP is a MAC proprietary process to assist with the marketabilty and sales velocity of a real estate development. “ESP” is an acronym for “Envisioning”, “Strategy” and “Plan”….simply put it is a comprehensive and non-bias method of creating a master marketing plan utilizing input from all stakeholders involved.

The process can be used to create new projects from scratch (just a piece of dirt!) plus it can be modified slightly to greatly help existing projects that need a marketing and sales re-vamp and improved sales velocity.

Without revealing all our tricks  the ESP process involves first assembling an “A – team” of stakeholders including anyone that is involved in the decision-making and leadership of the project plus key suppliers such as architects, marketing and sales, communication companies, and interior designers. Next, typically an all day session is planned and MAC facilitates this session with prior homework assignments for all.

The first half of the session is focused on ensuring all of the stakeholders understand the current situtation (including competition, market factors, timelines, budget constraints, etc.) as well as defining the target market for the project (primary, secondary, etc.). If it is an existing project with sales, the analysis spends great effort profiling the current Buyers.

The second half of the session is dedicated to brainstorming ideas – this is where the “art” of marketing and experience of the team is critical. The product, the USP’s (Unique Selling Propositions), the experience of the community will be discussed and defined so that everyone believes in a common vision and personality of the project. In addition, everyone will be sent away with next steps and tasks.

Lastly, a detailed document (the MAC ESP document) is drafted which summarizes the discussion and decisions from the session plus it includes important information such as timelines, target market definitions, cash flows and budgets. It’s also often particularly valuable to the stakeholders who need to share this information with bankers or equity partners.

In my experience, the MAC ESP efforts pay huge dividends in time – keeping a large team with their eye on a common vision and the plan leads to efficiency and positive results. Bottom-line…don’t leave it up to chance. Spend the time at the beginning of the project and plan for success.

Happy Selling.

Cameron McNeil