Case Study: Faro Broadbeach – Achieving Record Sales Success with Pezet Matheson Project Marketing
When Pezet Matheson was appointed as the fourth agency on the Faro Broadbeach development, the project faced a challenging market. After three prior agents were unable to secure consistent momentum in sales, Pezet Matheson was brought on to bring a fresh strategy, targeted marketing, and expert knowledge of the local high-end real estate landscape. Within 12 months, Pezet Matheson transformed Faro Broadbeach from an underperforming development into one of the Gold Coast’s standout successes, achieving a gross realisation of approximately $80 million and reaching over 70% sold, including setting a Gold Coast record with the highest non-beachfront internal square meter rate.
The Challenge: Building Momentum in a Competitive Market
Faro Broadbeach is an architectural masterpiece that sits in the heart of Broadbeach, offering luxurious residences with unparalleled views and amenities. However, by the time Pezet Matheson joined, the project had already cycled through multiple agents, struggling to find a strategy that resonated with potential buyers. The development needed a dedicated team with an in-depth understanding of the luxury property market and the skills to build urgency around high-end real estate opportunities.
Pezet Matheson’s Approach: Tailored Strategy and Market Expertise
Upon their appointment, Pezet Matheson immediately set to work with a data-driven, customised approach, focusing on the following key areas:
- Repositioning the Brand Story
Pezet Matheson re-envisioned Faro Broadbeach’s brand narrative to emphasise its exclusivity and appeal to discerning buyers. They highlighted the development’s luxury finishes, stunning views, and premium lifestyle features, appealing to both local and international buyers looking for a prestigious Gold Coast address. - Leveraging Local Market Insights
With a deep understanding of Broadbeach and the broader Gold Coast luxury property market, Pezet Matheson’s team pinpointed the buyer demographics most likely to resonate with Faro Broadbeach’s offerings. They then tailored their campaigns to directly appeal to these high-net-worth clients, utilising a blend of digital advertising, high-impact visuals, and exclusive private viewings. - Creating Urgency through Strategic Milestones
To drive interest, Pezet Matheson executed a phased approach, creating urgency through strategic milestones. This tactic helped them steadily increase interest and demand, ensuring each available unit was given maximum exposure before release. The culmination of this strategy was the sale of Faro’s penthouse, setting a new suburb record and capturing media attention across the real estate sector. - Engaging Buyers through Events and Experiences
Pezet Matheson curated events to introduce buyers to the Faro experience, including VIP inspections, exclusive viewings, and personalised presentations of the penthouse and other high-value units. This experiential approach allowed potential buyers to immerse themselves in the property’s luxury, ultimately driving more inquiries and, importantly, converting them into sales.
Results: Over 70% Sold and a Gold Coast Record in Under 12 Months
Thanks to Pezet Matheson’s strategic approach, Faro Broadbeach achieved remarkable results:
- Over 70% of Units Sold: With the project initially struggling, Pezet Matheson’s efforts resulted in over 70% of units sold within 12 months.
- Suburb Record Penthouse Sale: The sale of Faro Broadbeach’s penthouse set a new record for the highest-priced penthouse in Broadbeach, further establishing the development as a standout in the Gold Coast luxury market.
- Gross Realisation of Approximately $80 Million: With their efforts, Pezet Matheson helped Faro Broadbeach reach an impressive gross realisation, further solidifying the project’s financial success.
The success of Faro Broadbeach exemplifies Pezet Matheson’s expertise in project marketing and their ability to revitalise developments that require strategic direction and a fresh marketing approach. Their accomplishment on this project highlights their teams dedication to driving outstanding results, positioning them as a top-tier choice for high-end developments seeking results in challenging markets.
This case study is a testament to the value that Pezet Matheson brings to the table: an adaptive, results-driven approach that doesn’t just sell properties but creates lasting impressions and record-setting achievements.
