In this regular feature called INDUSTRY TREND DIRECTION FINDER FOR MBAs, you find the current industry trends in managing the factors of production and service which remain largely uncovered in the contemporary management books.
Though they are extensively covered in the trade journals of repute and global standing, they go unnoticed by the management practitioners and students as well due to their cyclicity and quick progression from trend to trend, topic to topic and theme to theme.
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COMBO SELLING - THE POWER OF TEAMWORK
IN REAL ESTATE MARKETING
When next-door neighbors sell jointly, one plus one can be a lot more than two.
No one remembers who had the idea first, but that’s beside the point: Neighbors, when they are about to sell their homes same time, are selling for more than than they could’ve expected to get separately.
Although they dip their price, they are definitely onto something: This kind of teaming up is growing more common.
The shortage of family-size apartments remains acute, and appraisers say larger spaces, once they’re put together, can command a 20 per cent premium per square foot.
Say you join two one-bedroom apartments that cost Rs 8 lakh apiece.
For a modest contractor’s fee of maybe twenty grand, plus some headaches, you may produce a three-bedroom that’s worth Rs 18 lakh.
You’ve created almost Rs 2 lakh in equity out of thin air.
Co-ops have even been known to sell common building space—like bits at the ends of hallways—to make those amalgamations seamless.
A tremendous amount of appraisals of common areas are being done these days that would be co-opted if two units are put together, which is a reminder that the resultant floor plan has to be graceful.
Two small apartments connected by a long zigzag hallway won’t see much love. It takes extra paperwork, it takes extra marketing, but it could mean extra money.
Such combos and improved process also do wonders in restaurant marketing and pizza huts.
Know why?
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