All Property Developers are Liars?
I was reading Seth Godin‘s book All Marketers are Liars. Although I am a veteran marketer myself, being a liar has never crossed my mind. In his book, Godin…
From the archive. Published in 2013. Prices, rules and interest rates may have changed since — check current figures before you decide.
By Property Soul (guest contributor)
I was reading Seth Godin‘s book All Marketers are Liars. Although I am a veteran marketer myself, being a liar has never crossed my mind. In his book, Godin talks about “the power of telling authentic stories in a low-trust world”. I know not everyone who read my posts agree with what I say. But I’m not a property developer, real estate marketer, property agent, conveyancing lawyer or mortgage banker. I’m not selling you a get-rich-quick book, or a property investment seminar. That’s why I am free to say what I believe, without having to look at the bottom line or worrying too much about “being liked.”
Have you been brainwashed by “conventional property wisdom”?
Of course, I understand what kind of messages can please the largest audience, drive the most traffic and sign up the most followers. You know the “conventional wisdoms” that you always hear from people such as:
– Buy HDB first, then upgrade to a condo, before settling in a landed home
– Freehold is better than leasehold
– Anytime is a good time to buy
– Properties prices will always go up in the long-term
– The market cannot collapse because of demand from foreigners
– Mickey mouse units are the trend of the future
They may not be the truth. But they make up the average Singaporean’s view on properties
Marketers lie
Godin said in All Marketers are Liars,
Identify a population with a certain worldview, frame your story in terms of that worldview and you win.
A worldview is not what you are. It’s what you believe. It’s your biases.
A worldview is not forever. It’s what the consumer believes right now.
That’s why you see property ads on TV or in the local papers with images completely irrelevant to the development:
– A young family running at the beach
– A sexy lady swimming or resting by the pool
– A group of yuppies sipping wine in a bar
– Two well-dressed Caucasians overlooking the fantastic night view
Fantasy vs. reality in property ads
Whereas the reality is:
– The condo is most likely far from the beach, with a pool too small and frequented often by too many noisy kids.
– Your unit most likely comes with a blocked view. Its size makes it unrealistic to fit in a bar counter.
– Expatriates are most likely not interested to move into an area inhabited mostly by locals.
But developers are selling you a dream, not a commodity.
And because it’s a consumer’s fantasy, they are not obliged to tell just the boring facts, but are inclined to expand your imagination with an “artist’s impression” in an abstract wonderland.
As Godin said:
Successful marketers are just the providers of stories that consumers choose to believe.
Property ads: then vs. now
I would like to end this post with a comparison of property launch advertisements in the Singapore papers in 1985-6 versus 2012.
Take a look and let me know what you think.
By Property Soul, a successful property investor and enthusiast who shares her experiences and knowledge on her blog.
1 reader comment
DW1979
There’s a lot of sceptism in your article and i don’t really agree with many of your points. You are in fact confused with the concept with marketing. I do not advocate misrepresentation in any form of marketing towards consumers, but in this world where information is widely available and so is transparency, i think you are either underestimating the savviness of buyers, or the ethical nature of real estate, which to be honest isn’t too different for the other job industries like medical, law, financial planning, etc.
