ABSTRACT
At times, property developers are unfamiliar with marketing strategies and partly or completely underestimate the costs associated with implementing a successful marketing plan. Nonetheless, it should be a primary goal of the property developer to achieve ‘full market value’ for their finished product, which occurs (according to the definition of market value) when the purchaser/lessee is ‘knowledgeable’ about the marketplace. Since there is no centralised marketplace, as opposed to other competing investments such as the stock market, there is even higher emphasis required for promotion and selling of a property development in order to ‘inform’ the demand side of the property market (Forlee, 2006).
