It starts with a patient conversation and ideally ends with an unforgettable name that draws in tenants, residents and guests. That's how real estate branding guru Phil Durbrow described his method for finding the right identity for a new development project.
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Bisnow spoke with Phil about his creative process and why developers need to care more about their corporate identity.
Phil has 45 years of experience in corporate identity and brand strategy. He’s worked at and led leading identity and branding firms such as Landor (now part of WPP) and FrankfurtBalkind. Fourteen years ago, he founded Marshall Strategy to help real estate companies (among others) to develop identity-driven business strategies.
He begins every real estate assignment with a conversation and a commitment to the developer. Phil says it is essential to listen carefully to the client to understand the unique qualities and characteristics of a project. Is it the location? Is it the amenities program? Questions like these inform the company's thinking.
With this information, he and his team get to work. Marshall helps distill the project's value and makes a compelling case for why people should be enthusiastic about living or working there. Ultimately, the goal is to build a communications strategy that builds a powerful, cohesive and compelling image for the development.
Helping companies find the right way to communicate the value of a real estate project is a point of pride for Phil. His proudest naming and positioning was a 20,000-acre real estate development on the Monterey Peninsula. The original plans called for 10,000 homes, but the negative impact on local traffic, schools and environment could have proven too much. Phil recommended the development be scaled down to 300 homes across 2,000 acres. By limiting supply, home values went up, infrastructure costs went down, and the newly freed open space became a highly desirable asset. He also changed the name from the Rancho San Carlos Residential Development to The Santa Lucia Community Preserve, described as in the foothills of the Santa Lucia Mountains overlooking Carmel and Pebble Beach. The developer’s plan won unanimous approval from government officials and the homes quickly sold out at premium prices.
Taking a wider view, Phil advises developers it makes little sense to spend tens of millions on a real estate project without spending a fraction of that on strategic positioning. “It's the difference between saying your office is at 600 Montgomery St and saying your office is in the Transamerica building,” he says.
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