How to Invest in Real Estate: Standing Out from the Competition with Your Brand – Ann Lee Interiors
December 16, 2014
When teaching our students how to invest in real estate, one focus is our brand. When Ann Lee was founded, as with any new business, there was a multitude of decisions we had to make. One thing was crystal clear. We wanted our buyers to have a different experience. We wanted to set ourselves apart in the marketplace. Frankly, the majority of flippers were all beginning to look the same. It was getting extremely boring to be a flipper and have your product stand out. We changed that quickly!
We created a brand called “Ann Lee Interiors” and built our own army of dedicated agents, lenders, contractors and employees who follow and promote our brand. As soon as a potential buyers walk through the front door, we wanted to give them a unique buying experience! We take our buyers on their own custom journey. During that journey, every single small detail is important. It’s the little things that make a difference. Things like custom Ann Lee labeled house keys, custom brand postcards and small customized pop-up promotional cards spread throughout the home.
When you’ve built your brand, you’re in-turn customizing every single flip! When you customize the home and the home-buying experience, you have just ensured that your potential buyers feel special. Your product, in turn, stands out from your competitors.
You may ask, “what sets Ann Lee Custom Homes apart from their competitors”? Most real estate investors would never share their secrets with the public. We’re different! We want to share our wealth of knowledge to help make you more successful and profitable when it comes to your real estate investment(s). While I do not wish to bog you down with details right now, there are 5 simple ways to ensure that your house stands-out:
Be different from your competitors
It’s not rocket science! Every buyer has an mental picture and checklist of exactly the type of house that they want. Make your investment stand-out by giving the potential buyer what they want. Instead of what you want or is the least expensive. It needs to look like a custom designed home rather than a home designed by a contractor, or narrow-minded investor!
Be aware of how the potential buyer perceives you
Our buyers perceive us as custom home designers rather than flippers/investors wanting to earn a quick buck and move onto the next investment without putting any thought or pride into their flip. Our buyers see our homes as ones that they are eager and excited to purchase. Rather than a house that they are just “agreeing” to buy. Again, ask yourself this, “How does my potential customer perceive me? Do they perceive me as a “flipper” or as a “custom home designer”?
Tile is “art” not “flooring”
Most investors consider tile or laminate floors simply as “flooring.” We’re different – we consider them to be a form of “art!” I want the potential buyer to feel like they walked into a 5-star hotel and not $120,000 house! I can do that easily by using a specialty tile that doesn’t cost that much more than that basic beige 12×12. When you start to think of it as “art” rather than “flooring,” your potential buyers will begin to think the same way…and the end result will be more money in your pocket!
The 3-color paint system
Paint is fairly inexpensive yet your average “flipper” just keeps throwing that cheap beige paint on the walls and semi-gloss white paint on the trim and doors. You can’t get anymore “bland” than that! We use a 3-color paint system and receive more compliments on this one subject than almost anything else. One paint color is for the walls and ceilings, one for the trim, and one for the doors. Again, we steer-clear from the bright white trim because all of our competitors use that paint color and we want to be different! We want our houses to stand-out in a crowded market, and they do. This is why we end up getting above asking price in more than 90% of our closings.
The X-Factors
In today’s housing market, almost every investor are attempting to use “wow factors:” granite counter-tops, stainless steel appliances or faucets, etc. We do this as well as it’s usually expected by potential buyers these days. But one thing we do differently is that we find a way to impress the potential buyers with something that they are never expecting. One of our favorite examples to use is installing “heated tiles” in the bathroom. We’ve been able to find this system at Home Depot for roughly $3-400! This one simple thing can work wonders for buyers who are on the brink of purchasing the home. And in the grand scale of things, wouldn’t a $3-400 dollar investment be worth it? Buyers in areas with cold winters love this option!
