New York

How the Real Estate Industry—and the Way that it’s Marketed—is Changing

Magnum Real Estate Group executive vice president Stuart Marton explains why the industry no longer selling a 2D place to live, but an entire lifestyle instead.

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When it comes to keeping up with today’s real estate trends, there’s no doubt that a strong digital presence is essential. From active social media platforms to engaging influencers in order to promote a new development, the way that the industry markets itself has changed drastically over the last few years.

No one knows this better than the team at Magnum Real Estate Group, which acquires, develops and manages residential and retail property in New York. Founded by Ben Shaoul in 1998, the real estate group is constantly adding new properties to its lineup that it’s positioning to the next generation of homeowners and consumers. And according to Magnum’s executive vice president Stuart Marton, engaging potential customers online plays a major role in the brand’s success.

“The biggest change that I’ve seen in the industry over the course of my career is the introduction of the internet. The nuts and bolts behind real estate are all the same, but digital platforms are now completely changing the way that we reach people,” said Marton. “At the end of the day, success is driven by identifying a product that the market wants, pricing it fairly and ensuring that you’re building a quality product. But how you get that message out to people is entirely different, especially as more millennials start shopping for their first homes and apartments.”

Magnum Real Estate Group is using its digital platforms to get the word out about its new structures. Right now, the brand’s properties include 100 Barclay, a new luxury structure located in Tribeca that used to be home to Verizon, in addition to CODA, a rental to condo conversion structure in Gramercy and 196 Orchard Street, both of which have followed completely different ways of marketing. And while the unique stories behind the properties help them stand out to potential owners and renters, in order to see the units be taken off the market, it’s up to Magnum to ensure that they’re maintaining strong relationships with consumers. That means finding a balance between both digital and old school tactics.

“At its core, real estate is rooted in relationships. But instead of always picking up the phone and calling people, we’re now targeting them with campaigns on platforms like Facebook, Twitter and Instagram. And the introduction of those mediums means that what consumers want is different. They no longer want to be sold a home, they want to be sold a lifestyle,” Marton said. “That’s why it’s crucial to be engaging and interactive when finding potential clients.”

That focus on turning what used to be a 2D experience into a full lifestyle is a trend that’s expected to continue driving the real estate industry forward in the months and years ahead. Because people have access to limitless information in real time, properties, developments and realtors need to go above and beyond to ensure that consumers can easily find what they’re looking for just by doing some light research.

“Finding long-term success in the real estate industry comes down to staying ahead of the curve. You need to continue to build—and sell—what the market wants, which means working with the best design team to ensure that you’re both fashionable and timeless,” said Marton. “Right now, consumers have more access to instant information than ever before. In order to capitalize on that, you need to ensure that your buildings and listings are out there in front of the right audience. Without that strong digital media presence, it’s difficult to maintain the relationships that are essential to thriving in real estate.”