Hundreds of leads, zero deals: the surprising lesson from the Romanian property fair

Twice a year, a real-estate fair is held at the Palace of the Parliament in Bucharest. Shai and I had visited it together several times in the past, so when Shai started planning the new building he would put up on the plot he had bought a few months earlier, it seemed only natural to him to buy exhibition space at the fair to present his project.

I was very impressed when he came to me with the sketch of the stand that a company specialising in exhibition stands had prepared for him, but I tried to cool his enthusiasm. I reminded him that the fair's standing had declined in recent years, that the big companies no longer exhibit there as they used to, and that the number of exhibitors keeps shrinking. I reminded him that last year we had seen mostly projects from the south of the city.

“We always said we'd exhibit at the fair, and here's our chance,” he said.

“I understand,” I replied, “just bear in mind that Romanians don't usually buy off-plan. Certainly not from a foreign developer on his first project.” I was trying to cool the enthusiasm.

He hired a company to market the project, met with them and briefed the sales team before the fair, and during the fair he sent me photos showing interest and traffic at the stand. In his messages he told me there was interest and that people were leaving their details.

About a month after the fair we sat down for a status meeting to see where the project stood and what else could and should be moved forward, but he opened the meeting with a surprising statement: “I can't believe I put more than 10,000 euros into that fair and nothing came of it.”

“But there were interested people, people left their phone numbers,” I said.

“The marketing company got more than two hundred leads from the fair. There were people who were interested, a few even said they'd go see the plot and come back to us, but nothing moved forward and not a single reservation was made,” he said in frustration.

Shai's statement didn't surprise me. On the contrary, it confirmed what I had tried to explain to him before the fair. Remember I told him that “Romanians don't usually buy off-plan”? Certainly not from a foreign developer on his first project. This isn't just a fact about Romania; it's a critical insight about marketing real estate to a local audience in any destination abroad.

We Israelis are used to a different sales model. We buy “off-plan” before we've seen a single stone, trusting renderings and the reputation of the developer or broker, and the protections the law gives us. But in most international markets, and especially in developing countries, the approach is completely different. The local buyer wants to see, to touch, to feel. He wants security, and for him security comes when he sees the walls going up, the apartments being built, and ideally – when the first residents have already moved in.

The fair was an excellent opportunity to create “buzz” around the project, but on its own it wasn't enough to close deals. Two hundred leads is an impressive number, but they stayed “on paper” because the next, so critical step was missing – physical, visual, tangible proof of progress.

So what do you do when you want to sell to a local audience abroad? Here are some insights I shared with Shai, and they apply to every developer:

1. The proof stage – photos, video and site visits: if the project is still under construction, keep producing high-quality visual content. Progress photos of the construction, drone footage, virtual tours of the site. Then take the leads from the fair on physical visits to the plot, even if it is “just a building site.” Let them see the work with their own eyes. That builds trust and turns interest into intent.

2. Cultural fit is the key: what works in marketing in Israel won't necessarily work in Bucharest, Budapest or Lisbon. You need to understand the cultural nuances, the buying habits, and the kind of security the local audience is looking for. A promise of high income, for example, may excite Israelis, but Romanians will look first of all at the land-registry entry and the construction stages.

3. Not just an apartment, a whole package: remember, you aren't selling only a property. You're selling related services, peace of mind and confidence in the investment. What else does the project offer besides a home? How close is it to public transport? Are there green spaces? A park? What is the finish level? All these details must be clear and transparent to the local customer, before he even thinks about the price.

Shai's investment in the fair wasn't wasted. It created interest and leads, and it was the first stage in the process. The lesson is that you have to understand every stage of the marketing funnel and adapt each one to the cultural expectations of your target audience.