industry partnerships and real estate teaching , deborah levy
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INDUSTRY PARTNERSHIPS AND REAL ESTATE TEACHING , Deborah Levy. Mike Lee. How we work with industry. Long term relationships that need nurturing Get to know the people out there that have something to say and that you can trust Get them involved. Our Strategy. Financial Support - PowerPoint PPT PresentationTRANSCRIPT
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INDUSTRY PARTNERSHIPS AND REAL ESTATE TEACHING
,
Deborah Levy
Mike Lee
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How we work with industry
Long term relationships that need nurturingGet to know the people out there that have something to say and that you can trustGet them involved
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External (& Alumni)
Relations/hips
Financial Support ScholarshipsSponsorships and PrizesGraduation Dinner Seminar sponsorshipCase Competition sponsorship Student of the Year sponsorshipBuddy programme sponsorship
Research• Advice• Financial support• Participants• Case study material
Accreditation•Recognition•External examiner•Sponsorship
Student Career Support• Buddy/Coffee Mate Programmes• Alumni Evenings• Networking Evenings• Property Case Competitions• Job placements
Teaching/seminars• Contract staff• Visiting lecturers• Case study/assignment material• Mentoring
Advisory Board• Support• Advice• Inroads into industry
Marketing• Property Dinner• Property Connect • Graduate Profiles• Career Development Programmes
Our Strategy
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MarketingProperty DinnerPublications
Property ConnectGraduate Profiles BookCareer Development ProgrammeProperty FlyersMarketing video
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Financial Support
Scholarships & PrizesExternally funded scholarships and prizes Amounting to approx $100,000NZ pa
SponsorshipsDinner SponsorshipsSeminarsCase CompetitionsAwardsBuddy Programmes
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Student Career Support
Student Career SupportBuddy/Coffee Mate ProgrammesAlumni EveningsNetworking EveningsProperty Case CompetitionsJob placements
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Student Career Support
Recruitment Process Workshops
Identifying skills required for the jobWriting a winning CVCreating an impression at an interviewWorking effectively in a team
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Research
Research
AdviceFinancial supportParticipantsCase study material
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Advisory Board The Advisory Board is made up of senior property professionals representing different sectors of the industry.
The main objective is to produce world-class graduates, research and ideas that underpin the industry’s position within a knowledge-based economy and society.:
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Accreditation
Industry Partners
The Royal Institution of Chartered Surveyors (RICS) (UK)
The Property Institute of New Zealand PINZ)
The Valuers Registration Board (VRB)
The Real Estate Institute of New Zealand (REINZ)
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Teaching/Seminars
Teaching/seminars
Contract staffVisiting lecturersCase study/assignment materialMentoring
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How to make it happen
Have to be prepared to work after hoursLook for opportunities to make connectionsBuild on relationshipsRemember this is a long term project starting with studentsHave an ambassador that wants to make the connectionsAlumni relations (Incl social media such as Linked-In)Be ready to ask when the time is right
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What does this mean?
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Is this what our stakeholders think of us?
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But maybe there is hope
Research
PracticeTheory
The University
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Theory-fortified, work-ready graduates
Real world projects
Negotiation: Real-world
projects/problems with real world
incentives
Assessment: Balancing the
tension between course content and external
validity
Assignment: Hone industry relevant skills
such as teamwork, writing,
presenting.
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examples
2nd year undergraduate property marketing courseLectures include property cases, produced with the assistance of property professionals and guest lecturer.Buddy programme where students are buddied up with professionals in the industryGroup Assignment where students are instructed on a real world assignment by a property professional and group presentations are made to them.
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Objectives
Video cases give students a learning experience utilising real life scenarios presented by experienced property professionals in the industryGuest lectures, people that the students can see and ask questions to. Back up information received in class.Buddy programme, mentoring programme where they can start to network and ask additional questions.
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Assignment
Students gain experience and skills in formulating a Real Estate Marketing Plan for a proposed developmentStudent feedback very positive about this assignment.
They learn about the amount of research required.They understand a target market and adapting a promotional strategy to speak to themFirst hand experience of the property market and the competition out there.The group dynamic an essential part of the learning experience.
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Adapting and improvng
Video of a similar project talked through by a real estate marketer and a marketing professional. “the Galleries”Helps to guide students through the strategic marketing process.Previous years students felt that they were in the dark.
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Year 2
Property Assignment
187 Campbell Rd Greenlane Auckland
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EASTERN SUBURBS MARKETBEAT
• The desire to own a slice of some of Auckland’s most highly sought suburbs is continuing to act as one of the key drivers of sales in the core Eastern Suburbs.
• This isn’t just having an impact on the traditional ‘core’ Eastern Suburbs or Parnell, Remuera, Orakei and the Eastern Bays.
• Increasingly, the peripheral suburbs of Greenlane, Ellerslie and St Johns are falling further into favour of residential investors.
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EASTERN SUBURBS MARKETBEAT
Value Change Since 2012
Median Sale Price $855,250Total Sales 650Average Days on Market 48
EASTERN SUBURBS MARCH 2012 KEY DATA
Source: REINZ, Bayleys Research
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EASTERN SUBURBS MARKETBEAT
The appeal of the Eastern Suburbs has always rested in the fact that the area is adjacent to the harbour, it has a high level of amenity, with a number of well established and distinct retail destinations, and that it is zoned for some of the country’s best schools.
These factors continue to be at the crux of drive people’s decisions to move into the area.
There also appears to be an overflow affect, which is having a positive impact on surrounding suburbs.
Purchaser interest in the core suburbs is currently outstripping the available property, so purchasers are turning to adjoining suburbs as an alternative.
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Market watch
House prices continue to rise – listings in short supply and buyers remain in forceREINZ House sales up by 25% versus the previous year.
Average selling price up 14% from a year ago, 21% from the 2007 peak and 36% from the low of 2008/09
Activity is strong and although construction is rising the supply gain is relatively small, the lag effect will remain in place for some time.
New market influences – interest rates, higher deposit rates ?
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Market watch
The development of Auckland Council’s Unitary Plan, in particular, the trend towards intensification, is drawing investors into the Eastern Suburbs.
Investors are continuing to look for ‘added value’ opportunities. If and when the unitary plan is passed, there will be opportunities for building dwellings on smaller residential lots.
Developers are starting taking a forward looking position on this, looking for sections which can be further developed.
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Market watch
6 Months to March 2012 43 590,000$ 6 Months to March 2013 55 27% 685,000$ 16%
South Remuera Sale Count % chg Median Value % chg6 Months to March 2012 61 705,000$ 6 Months to March 2013 95 56% 910,000$ 29%
Mount Eden Sale Count % chg Median Value % chg6 Months to March 2012 190 779,000$ 6 Months to March 2013 211 11% 938,000$ 20%
Epsom Sale Count % chg Median Value % chg6 Months to March 2012 153 900,000$ 6 Months to March 2013 176 15% 1,140,500$ 27%
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Market watch
Mar 05
Sep 05
Mar 06
Sep 06
Mar 07
Sep 07
Mar 08
Sep 08
Mar 09
Sep 09
Mar 10
Sep 10
Mar 11
Sep 11
Mar 12
Sep 12
Mar 13
0
100
200
300
400
500
600
700
800
900
1,000
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
$1,000,000
EASTERN SUBURBS RESIDENTIAL DWELLINGSMedian Sale Price & Sales Volume
Sales Volume Median Price
Quarter
Sale
s Vol
ume
Median Sale Price
Source: REINZ, Bayleys Research
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Market watch
Mar 05Jun
05Sep
05Dec
05Mar
06Jun
06Sep
06Dec
06Mar
07Jun
07Sep
07Dec
07Mar
08Jun
08Sep
08Dec
08Mar
09Jun
09Sep
09Dec
09Mar
10Jun
10Sep
10Dec
10Mar
11Jun
11Sep
11Dec
11Mar
12Jun
12Sep
12Dec
12Mar
13Jun
130
10
20
30
40
50
60
70
80
EASTERN SUBURBS RESIDENTIAL DWELLINGSAverage Days on Market
Quarter
Aver
age
Day
s on
Mar
ket
Source: REINZ, Bayleys Research
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Residential Project
187 Campbell Rd GreenlaneLarge Site Mixed useCore Residential Amenities / supporting elements to the siteEnvironment – parks / landscaping
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Property Assignment Your Task:
You have been asked to prepare the following:A SWOT analysis for the potential site, including an analysis of the local competition.A recommendation on the style and make up of the property that would work well within the development site.A comprehensive marketing and promotion plan for the site. Ensure that you plan covers off the following:
Target market – core groupsPsychographics of the potential target audienceWhy will they buy in this development over other suburban locations?Recommend a suitable name and your rationale for your choice.Marketing objective, marketing and promotional strategy.Promotional budget and timeframe
Prepare a 3 minute power point presentation for your manager highlighting the key aspects of your recommendation.
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The key aspects of presenting to a client
Market OverviewThe product offeringSWOT AnalysisTarget Market Pricing Marketing and communication strategyMarketing budget Project Team Commission/ agency / timing
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Key considerations
Thinking about really ‘selling’ your concept Be prepared to answer questions, appoint a spokespersonUse strong visuals and keep your key points in the power point presentation to a minimum.Remember you need to think about how you would present yourself in the real world or workplace. Think about your standard of dress and looking professional.
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Course Requirement
The marketing and promotional planA group three minute presentation on the core idea and marketing plan. This will be presented to the board members (Deborah and Rachel)The top 5 project presentations will have the opportunity to present their marketing presentation to Mike Bayley – Managing Director of the Bayleys Group at a function at Bayleys Real Estate.
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Experience is learning from your mistakes, education is learning from everyone else's’.