Donald Trump is known for being over-the-top, and it’s this persona-turned-branding-strategy that is not only skyrocketing his political campaign, but that has also played a key role in his real estate success. In many areas of the country where Trump holds major square footage, he’s there even when he’s not thanks to towering buildings, white-glove service, and pricey, pricey real estate. As a result, in many of these areas, such as Westchester County in New York state, Trump must deal productively with a lot of preconceived notions about himself that have nothing to do with his personal behavior, but rather his high-end holdings.
David Wilson, a reporter for the publication Tax Watch, recently noted that Trump’s political campaign could actually affect his real estate business, and vice versa, as the republican presidential primaries become increasingly vitriolic. “His brand evokes a wide range of emotions,” Wilson noted in a recent column, adding that Trump’s supporters love the candidate because “he speaks from his gut, wraps himself in American power, and maintains he’ll cut through the bureaucracy to bring change.” However, Wilson added, detractors consider him “lowbrow,” and that could represent a huge problem for the Trump brand, which is white-gloves-all-the-way in most Trump Tower residences and is known for opulence and plush amenities.
In fact, some condo owners in these residences now actually object to their home addresses because they object to Trump as a candidate, and they’re not all enjoying the anti-Trump rallies that activists are staging outside their homes either. They note that when they purchased their properties, the Trump brand was largely a positive one. Now, they say they’re not so sure how they feel about continuing to live in the buildings. Trump Tower spokespeople across the country, however, maintain that buyers have not yet begun to bring up Trump’s candidacy as an issue when they consider a purchase. “We’re offering a full-service luxury building,” noted one broker for the 40-story Trump Tower in New Rochelle. He added, “You either want to be there, or you don’t. It’s the only game in town.”
Branding is a big, big, deal, and if your brand includes your name, then you better think carefully about how your behavior might affect your brand long-term.
Point to Ponder:
Do you think that Trump’s candidacy could ultimately hurt his real estate business?
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Carole Ellis is the host of Real Estate Investing Today, a popular 9-minute daily podcast focused on educating real estate investors about the important topics that will make their investing SAFER, FASTER, and MORE PROFITABLE. She's also the editor of the Bryan Ellis Investing Letter. She has more than a decade's worth of experience in and reporting on the real estate industry and, additionally, has written dozens of courses on the topic. Carole lives in Kennesaw with her husband, Bryan, and four children. She believes wholeheartedly that your best investment is always your OWN education.