Monday, September 15, 2008

Experts Agree Scenting Real Estate = Success

I came across an article in the New York Times from 2007 entitled "Scent and Sensibility". While I have accumulated many articles related to the benefits of using scent in  a retail space as well as home staging relative to scent, and even opinion articles on using scent when showing a property, this article is unique in its thoroughness as well as the fact that it covers a case study of sorts. 

The article covers the use of scent as a sales tool at the MGM City Center in Las Vegas, the most expensive privately funded development in US history. The sales executives at MGM determined that the use of scent in the sales pavilion was to be a valuable tool in the selling process and creating the relaxed and comfortable mood they wanted in the sales center to keep customer lingering longer, and give the sales agents more face time. In the market of $500,000 to $12,000,000 condominiums, which are the prices being charged at MGM city center, they have found that the use scent has been a valuable and profit enhancing element to their sales efforts, helping MGM buck the soft real estate market and sell out 90% of their available condominium inventory. Give the article a read, it's well written and informative:

http://www.nytimes.com/2007/09/09/realestate/keymagazine/909SCENT-txt.html?ref=keymagazine

I had initially debated putting this up on here as it gives the names of companies making scent delivery systems, and I am developing a scent delivery system specific to realtors, office spaces, and retailers. While they are listed, my point in this blog is to share and generate information. I also figured anyone serious about scent marketing, would stumble on these other companies, and knowing both of their systems I'm confident that my new machine will out perform them in the application it is designed for.  I have looked at what I consider flaws in these other machines as part of my development process. While I have developed systems for use in HVAC systems and can still do these, the focus of this project is development of the ultimate performance machine for use by realtors. If there is a desire for a custom scent brand as discussed in this article, we will offer this service as well, in addition to a standard line of sophisticated and market focused fragrances. 

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