Housing sales of real estate developers in Turkey. Issue 1 (20th March 2020)

• Record Type: Journal Article
• Authors: Selvi, Murat Selim; Pajo, Aykut; Çakir, Ceyda; Demir, Emre
• Is Part Of: International journal of housing markets and analysis. Volume 14:Issue 1(2021)
• Page Start: 39
• Page End: 54
• Publication Date: 2020-03-20
• Subjects: Marketing -- Real estate -- Housing markets -- Housing prices -- Housing market analysis; Residential real estate -- Periodicals; 333.3382205
• DOI: 10.1108/IJHMA-12-2019-0123
• Languages: English
• ISSNs: 1753-8270

Abstract

Abstract : Purpose: Because of competition, residential property developers use a variety of promotional tools to gain recognition and increase their market share and the demand for housing, and to manage their customer relations. This study aims to examine what real estate developers did to detect the need for types of housing, and pricing and promoting housing. It also sought clues about how they manage customer relations in residential sales. Design/methodology/approach: In this study, semi-structured interviews were conducted with real estate developers. This study has heuristic characteristics based on qualitative data. Document reviews, descriptive analysis and discourse analysis were carried out on the interview data and other sources. As purposeful sampling is generally used in qualitative studies; intensity sampling, homogeneous sampling, criterion sampling and snowball sampling were used together in this study. Findings: The study found that real estate developers were inadequate at advertising and promoting, allocated little budget for promotion and did not use technology sufficiently. The real estate developers gave discounts at rates that did not actually desire, had to create payment plans, and as a result, they lost customers because they could not manage customer relations well. Research limitations/implications: Interviews were conducted with 15 real estate developers who have been selling residential properties for more than 10 years in Süleymanpasa and Çorlu districts of Tekirdag. Data obtained are mostly qualitative. Originality/value: This study aimed to determine real estate developers' ability to implement a variety of promotional strategies and manage customer relations. Results and conclusions can offer significant clues about real estate developers with similar characteristics. Its conclusions of this study can be compared to similar studies of real estate developers in many regions of Turkey.