The real estate market has been setting records since the crash of 2007. That is, records in foreclosures, low mortgage rates and plummeting home values. But after years of turmoil, is recovery finally in reach? Depends on who you ask.
Some economists are unwilling to buy into upbeat forecasts, opting instead to take a conservative approach. Meanwhile, others are pointing to areas of moderate growth. According to Lawrence Yun, chief economist for the National Association of Realtors (NAR), commercial real estate is one example.
"Office vacancies haven't declined much because total jobs are still below that of the pre-recession level in 2007, but rising international trade is boosting demand for warehouse space," Yun said in a recent NAR release. "Consumer spending has been favorable for the retail market, and rising construction is keeping apartment availability fairly even, though at low vacancy levels. That, in turn, is pushing apartment rents to rise twice as fast as broad consumer prices and average wage growth."
As this niche market inches toward recovery, real estate-themed promotions are gradually popping up more in the print industry. Team Concept Printing, located in Carol Stream, Ill., is seeing steady demand from distributor clients selling to real estate professionals.
Here, Vince Manini, Team Concept Printing vice president, partner, details the specifics of a successful promotion targeting commercial real estate.
Print+Promo (P+P): Describe a promotion that you consider one of Team Concept Printing's best.
Vince Manini (VM): We run a high-end ensemble on a quarterly basis for a loyal print broker customer who focuses on commercial real estate. The product is high-end and very targeted.
P+P: What kind of items were featured in this promotion. What influenced that decision?
VM: The featured pieces are:
- A custom die-cut pocket folder that prints spot colors plus soft touch aqueous and multi-level foil embossed on 100 lb. linen stock.
- Multiple four-color sell sheets plus soft touch aqueous.
- A custom die-cut business card that prints spot colors plus soft touch aqueous and sculptured foil embossed on 100 lb. linen stock.
- A custom-made envelope that prints four-color with sculptured foil embossed on 80 lb. linen text.
We do the kitting and mailing, as well as help with purchasing the proper data base.
Our customer approached us a few years ago and asked us how she could entice her customers to try a different print route other than cheap four-color print that everyone else does. We came up with the above and we have been running this quarterly for her for three years now. Also, two other clients of hers have chosen to go a similar route.
P+P: How was this a profitable promotion for your company?
VM: We are told that the customers love the program and say the return on investment is five-fold compared to the standard print that was done before.
P+P: Did you encounter any challenges with this particular promotion? If so, how did you overcome them?
VM: Not really. We have been doing print and added value to print for a long time. We really love working one-on-one with customers regarding their ideas.
The only hard part might have been our customer having to persuade the end-user to invest more to [get] a better outcome.
P+P: Do you have any advice for distributors interested in selling to the real estate market?
VM: Push for pinpoint targets and observe and understand the project. Know that a nice looking printed piece will be noticed and kept on the target's desk. It will more likely end up in the correct hands and not get tossed in the trash. It's also important to have an open relationship with your client so as to work on projects together.
P+P: Is there anything you would like to add?
VM: We get a vast variety of print jobs here at Team Concept Printing. In a world where everything seems price driven, paying for higher-end print may seem daunting at first, but it pays off in the long run for all types of businesses. I say that based on repeat jobs of this type that come our way. The question is, rather, [would] someone prefer to do a job just once or several more times?
Interested in more real estate-themed promotions? Check out these options.
SIGN MARKS THE SPOT
Mark houses for sale or advertise an open house with Yard Signs from Navitor. Plastic signs measure between 12x18" and 24x35" and come with "H" step stakes for easy placement. Metal yard signs measuring between 18x24" and 20x28" are also available as a more durable alternative. For more information, visit www.navitor.com.
HOME SWEET HOME
The Welcome Home Spiral Bound Calendar from Norwood Good Value Calendars features high-quality imagery and gloss paper stock with a UV coated cover. The 13-month calendar measures 10x10" (closed), 10x19" (open). For more information, visit www.norwood.com.
- People:
- Lawrence Yun
- Vince Manini
- Places:
- Carol Stream