Is this really what new condominium sales is all about? A cool, hip name and jazzy colours?
There used to be more to marketing new condos, but when people line up on the street to get into a VIP sales event, why even bother marketing?
First and foremost – I’m aware that I need to upgrade my equipment. I need a microphone and a camera that weighs more than 35 grams. But the basic message gets across, even while being delievered via shaky flip-cam in a board room with an echo…
When I got the brochure for Karma, the first thing I did……was smell it. Is anybody else into smelling magazines, books, brochures, and anything else with that ‘new’ scent? Come on – admit it, you know what I’m talking about.
The brochure is printed on paper so glossy that it rubs off on your fingers, and so thick that you can hear it unfold from another room.
But other than bold colour and a pungent smell, there’s really nothing to the brochure.
There’s an artist’s rendering on the other side of the paper that I didn’t show in my video, but there are no photos of units, no floor plans, no prices – especially no prices, since those usually aren’t “revealed” or “released” until the buyer has jumped through the fifth hoop and attended the third dinner (see 3018 Yonge…).
I think it’s become so easy for condo developers to sell pre-construction condos that they’re not even bothering with marketing anymore. Just a cool name, wicked colours, and that’s all that’s necessary.
I’m convinced that buyers would purchase at Karma without even seeing floor plans or a list of features & finishes!
Something’s gotta give, no?
Graham
at 8:06 am
My choice for a one word condo name is “Sack”
NCYer
at 8:33 am
This condo looks like it’s strictly for investors, speculators and potential landlords looking to rent out to students.
I saw the floor plans and they are hideous, small and totally university-sized rooms. One of the units had 3 bedrooms and 1 bathroom stuffed inside 800 sq ft!
George
at 10:20 am
I guess if they focused on features, prices, and value offered they would be forced to present a pretty poor value proposition to the potential customer. At least that’s what I assume when I am marketed to in this way. That brochure is no different from the hundreds of TV commercials that I remember without remembering what the product/service was involved in the commercial.
Oh, and that smell is intoxicating. I love it too.
Joe Q.
at 11:11 am
“I think it’s become so easy for condo developers to sell pre-construction condos that they’re not even bothering with marketing anymore. Just a cool name, wicked colours, and that’s all that’s necessary…”
David — this is one of several reasons why a lot of people see the Toronto condo “industry” as being caught up in a speculative mania or bubble.
David Fleming
at 1:23 pm
One of my friends just messaged me and said:
“Your video reminds me of one of those Iraq POW videos. Terrible lighting, cloverfield camera work. All it’s missing is a bag over your head and some Iraqi soldier with a huge gun standing to your right. Time to buy a tripod and real camera.”
I think that’s the last straw.
I’m going to Henry’s this afternoon. I’ll miss my little flip-cam though. We had some great times…
Chuck
at 1:26 pm
I think the next development should be called “The Fleming”
🙂
Joe Q.
at 1:48 pm
That “new brochure smell” is VOCs off-gassing from inks and the materials used to coat the paper. Don’t fall in love with it.
Moonbeam!
at 3:40 pm
Loved this video post, and your take on the insanely unhelpful brochure, I laughed out loud… I also detest ads that have tiny font… wouldn’t want to spoil the colourful background…
BillyO
at 10:49 am
Garth Turner’s take on Karma,
http://www.greaterfool.ca/2011/11/06/no-risk-2/
Camera issues aside, more vids David, please and thanks.
Kyle
at 8:04 pm
I’m certainly not defending this building, but Garth’s take on anything should be avoided like the plague. He has managed to be absolutely wrong in every call he’s made in his entire life. I recall him advising all his desperate followers in 2006 – 2007, to sell their real estate and buy stocks. Since then the stock market is down about 20% and real estate is up about 20%. Not surprisingly those posts appear to have been removed from his blog. I pity any poor sod that ever took his advice.
It’s funny how he rails against those “talking heads”, from CREA and CMHC who publish real estate stats, because he claims they are pumping the real estate market for their own self interest. I recall back in the 90’s when he owned Millenium Media and he produced his own show called Real Estate Television, he would be the one to rhyme off the latest RE stats. I also recall the show advertising the latest housing developments and him having those same talking heads give their predictions. That couldn’t have possibly been for Garth’s own self interest (i.e. advertising revenue from developers) could it? Now that his revenue comes from books about how real estate is going to crash, it’s funny how he will lambast these guys, even though he was one of them himself, so that he can get more cheques from his publisher. Plain and simple Garth Turner is the hot water tank salesman of Economics.
Joe Q.
at 10:33 am
Garth Turner thrives on bombast and his posts are repetitive, but in his defense Kyle, the “Greater Fool” blog didn’t start until 2008. I remember reading it when it launched. If he was advising people to sell in 2006-2007, it wasn’t in the context of that website.
Kyle
at 12:20 pm
JoeQ you are absolutely incorrect. That blog existed way before 2008. I remember reading it long before 2007. I do distinctly remember around 2008, him getting very excited when Canadian Real Estate pulled back. In his posts you could sense how ecstatic he was that he might finally be right about something. Alas the 2008 pull back was no where near the doom and gloom he predicted, and he was again wrong and foolish looking.
The likely reason you no longer see pre-2008 posts is because he deleted them. If anyone were to read them now that would prove what an utterly crap track record this slime bucket has had, and of course that might adversely affect book sales.
Similarly it is very hard to find any trace of his Real Estate Television days, when he was a huge pumper of Real Estate, but i did find this remaining trace:
http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=2813520
David Fleming
at 11:53 pm
@ BillyO
I usually don’t agree with anything Garth Vader says, but his point here is bang-on.
Who would EVER want to live in 227 square feet? Your bed is touching your stove!
And $820 per square? That’s too much for anywhere in Toronto, in my opinion, even Yorkville (where prices are up to $1600/sqft but that’s besides the point).
His point about “the masses” is something I’ve been saying for years.
Jordan
at 2:51 pm
onomatopoeias will be perfect…
BAM! Condos
zoom Condos
Wham! Condos
Roar Condos
Tic-Tock Lofts
Bang! Lofts
zing condos
these are golden… i shouldnt be giving these away for free like this…
David Fleming
at 11:55 pm
@ Jordan
“Tick-Tock Lofts” is the best. Imagine a condo converted from a church with an old clock tower? Or maybe like the one in “Back To The Future?”
“A bolt of lightning!”
JG
at 6:57 pm
BAZINGA!
now there’s a condo with a name i would buy into.
BAZINGA!
Chuck
at 9:34 am
Now you’re onto something.
How about KAZAAM?
http://www.pulpsandcomics.com/dtaweb2/AT-04B-075.jpg
Phil
at 3:35 pm
I would stay away from Gerrard to Wellesley by Bay street. There are simply too much supply, and I can’t distinguish one from another. For example, I still have no idea which is Burano and which is Murano. They all look the same and have the same location.