The Marketing Executives Group International

Written By: Rodolfo Herrera
LinkedIn Profile: http://www.linkedin.com/in/herrerarodolfo

"An appropriate strategic global approach to a rather stagnant specific local market today will lead to a faster insertion of unprecedented surplus of units (condos) in the near future."

Despite the negative atmosphere surrounding the U.S. real estate industry and the ongoing painful downturn and/or adjustment of the markets, there are substantial opportunities within current and upcoming excess for-sale units in Miami’s high-end condo segment. This is especially true when taking into account traditionally mature markets in well-established, influential and desirable areas such as Brickell and Coral Gables. Now, an appropriate strategic global marketing vision applied to local real estate seeks the achievement of crucial objectives including;

I.) To significantly increase the spectrum of high-value prospective customers worldwide creating a truly global customer base of end users that beyond Latin America and Western Europe, further expands to Central and Eastern Europe, Scandinavia, the Middle East, the Far East, Southeast Asia and India, Oceania and Africa.

This could be achieved through the implementation of cohesive global advertising campaigns and bold marketing communication strategies worldwide, in which sales are driven by in-depth foreign customer relationship management, customer intelligence focused on demographics, and the strengthening of the brand identity of the local specific market (“BRICKELL/MIAMI” brand), while leveraging on a very diverse and highly customized real estate “product line”. In the end, having this strong master brand would provide superior support to Miami’s real estate products and services, invigorating foreign purchasing decisions as positive perception improves.

II.) To strengthen and promote the global competitiveness of Miami’s high-end condo real estate market based on the consolidation of superior products and services, as perceived vs. other markets such as Dubai, Panama City, etc.

In order to do so, it is crucial to continuously improve the quality of services rendered by key players within the local real estate industry while also promoting their proactive participation (developers, real estate marketing companies, city and county planners and officials, the board of tourism, chambers of commerce and trading bureaus, mortgage providers, construction companies, etc.).

Likewise, the tremendous opportunity of Miami’s current real estate situational change should lead to the sustained development of a more professional industry and the consolidation of an exceptional world-class city. This could be possible today if a systematic proactive approach becomes standard, rather than a laisser-faire attitude to simply wait years for the markets to correct themselves.

2008 © Copyright. Rodolfo Herrera. All rights reserved.