It is not breaking news to anyone that we are in the middle of a slumping real estate market. Inventories are high across the country and the mortgage industry is still licking it's wounds.
3Dwalkthroughs.com has been busy speaking with many developers trying to gauge how they will respond to this situation, and how this will ultimately effect our business as real estate marketers.
One solution raised by many of these developers is to offer properties that were formerly for sale as for rent properties with an option to buy.
This solution allows the developer to generate a revenue stream on these properties until the market rebounds, as opposed to having them sit empty with no money coming in. They also believe this solution could lead to potential sales down the road as some of the renters decide to exercise their option to buy.
Regardless of whether a property is for rent or for sale, tools such as 3D Walkthroughs, 3D Floor Plans, 3D Renderings and Interactive 3D Presentations are extremely effective sales tools that help make the most of a bad situation.
For development projects that are under way, the quality of the marketing materials will help to dictate the sale price or rent a developer can get for his property.
Tightening the purse strings on a marketing budget, especially in this tough housing market will only compound a bad situation.
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