Scaling Success in Real Estate Marketing

How can developers scale their marketing efforts and drive real results, even in a challenging market? In this episode of The Creative Viz, Scott Baumberger talks with Deren Akinci, VP of Marketing and Strategy at ACE Project Marketing Group, about what it takes to succeed in real estate marketing today.

Deren dives into his experience growing ACE’s portfolio of multifamily and resort projects across British Columbia, offering insights on how to build scalable systems, adapt to market slowdowns, and craft strategies that deliver measurable outcomes.

If you’re looking to elevate your real estate marketing game with smarter, results-driven strategies, this conversation is a must-listen.

Scott Baumberger: Hello and welcome to The Creative Viz podcast, where we discuss topics in architecture, development, and visual design. Today, I'm thrilled to have Deren Akinci with ACE Project Marketing Group in Kelowna, BC. He’s the VP of Marketing and Strategy. Welcome, Deren—great to see you.

Deren Akinci: Thank you so much for having me. Yeah, I’m really happy we were able to do this. I know we’ve been talking about it for a while, and I’m really glad we’re finally able to make it happen. Thanks again.

Scott Baumberger: Absolutely. I really appreciate your time. I know it’s been a busy year for a lot of us, and it’s just good to take a moment to reflect on how things are going. So, can you tell us a little bit about your role at ACE?

Deren Akinci: Yeah, I’d love to. So, a little bit of background first. I grew up in Southeast Asia, then moved to Vancouver for university. Right out of school, I got into the real estate industry. I was lucky enough to land a job with a developer on the west side of Vancouver. It was a great way to start my career because I got to try so many different things, and that’s when I really started to lean towards marketing.

From there, I went to work for one of the largest sales and marketing companies in Vancouver and stayed there for almost a decade. It was an amazing experience—working with some of the best people in the industry, incredible clients, and developers. I also worked with several First Nations groups on master-planned communities and got to help grow the team. When I started, there were about 40 people, and by the time I left, there were about 140.

Scott Baumberger: That’s a big group.

Deren Akinci: Yeah, it was exciting. That brings me to where I am now with ACE. My wife and I decided to move to Kelowna at the beginning of the year, and that’s where I found ACE. My role here is to oversee the marketing team and the project managers, ensuring that we’re delivering on clients’ needs and goals.

We’re also experiencing rapid growth here at ACE, so a lot of my focus is on scaling systems and processes.

Scott Baumberger: That’s great. It sounds like you have a lot of experience in growth marketing.

Deren Akinci: Yeah, I’d say so. We’ve implemented a lot of systems over the years. Seeing teams grow from just a few people to much larger groups requires a lot of systems and processes to manage it all efficiently.

Scott Baumberger: Before we jump into that, I’d be curious—did anything in particular trigger the move from development to the agency side of things?

Deren Akinci: That’s a good question. When I was working for that developer on Vancouver’s west side, they had really hit their stride back in the ‘80s and ‘90s. I reached a point in my career where I wanted to expand my personal brand, to learn from the best and to see more of the industry.

When you work for a developer, you get very focused on your specific projects. You’re launching maybe one, maybe two projects a year if you’re lucky. But when you work for an agency, you’re launching one or two projects a month, so I wanted to put myself in a position to see and experience as much as possible, getting into as many developer boardrooms as I could. I joined Rennie—that’s the company—and it was definitely a great place for that.

Scott Baumberger: I can definitely relate. When I was an architect, you’d be on a project for years, but now, it’s like I’m in and out in just a few weeks. So, a lot in common there. Obviously a big shift moving to Kelowna and also to maybe a smaller agency. Give us a bit of background on ACE.

Deren Akinci: I’m so happy here—I’m so happy to have found this new family. ACE is a full-service marketing agency, similar to the company I worked with before, but based in the Okanagan. They have a very diversified portfolio. We mostly focus on presale multifamily projects.

By diversified, I mean we have projects that range from Cranbrook all the way to the other end of B.C. on the island, and a pretty varied product type as well. We specialize in resort projects. For example, we’ve worked on the Red Mountain project, which is an alpine master-planned community in Rossland. It’s sold $106 million in real estate over the last two seasons—really incredible results.

Another project we’re launching now is Hallow Nelson, which is set to be one of the first Troon golf courses in Canada. That client has multiple sites across B.C. where they’ll be launching the brand, so we get to work on some very exciting resort projects. It’s definitely a niche for ACE as well.

Scott Baumberger: And just to be clear, these are for-sale residential properties?

Deren Akinci: That’s right.

Scott Baumberger: Multifamily?

Deren Akinci: Multifamily is what we focus on, but we also handle a few single-family home projects.

Scott Baumberger: So, I understand you’ve only been there a short time, but how has 2024 been so far? How’s the market looking?

Deren Akinci: It’s no mystery—the market has definitely been a bit slower in 2024. Interest rates are high, which I’m sure you’re experiencing in the States as well, and inflation has been slowing things down.

But specifically for B.C. and Kelowna, there’s been a lot of government intervention—demand-side measures aimed at slowing demand, which has put some brakes on the market. One measure in particular has been a short-term rental ban, which has really impacted Kelowna.

Scott Baumberger: Oh, interesting.

Deren Akinci: Yes. Kelowna is a bit of a resort town, so a lot of people own second homes here. Many bought property with the idea that they could use it for short-term rentals, like Airbnb. With the new restrictions, many people have put those properties back on the market, so we’ve seen a pretty big increase in inventory because of these measures.

Scott Baumberger: And so, when people have rental properties, was that driving up the overall costs to enter the market? Is that some of the underlying issues?

Deren Akinci: Yeah, I mean, I would say so. They were trying to hold back speculation, but there are some results now, and I think there are probably a lot of other unforeseen impacts on the economy. I don’t have a clear barometer on what it was like before, but many people I’ve talked to here say that restaurants aren’t as full during the summer. The entire tourism industry is really suffering because people don’t have places to stay when they visit. Hotel costs are through the roof compared to the previous year.

To put it in context, Kelowna, the Central Okanagan, has over 2,500 active listings on the MLS. Meanwhile, Victoria has around 3,000 active listings. So, with 100 percent more people, they have only about 15–16 percent more listings. That really shows the effects.

Scott Baumberger: Interesting. Do you see any signs of it coming back into balance?

Deren Akinci: Thanks for asking. It’s definitely getting better. We’ve had some interest rate cuts starting to gain traction now. On our projects, we’re actually seeing those investors slowly start to return, and that buying power is coming back into the market as well. The important thing to remember here is that, in the long term, so many people want to come to this part of the world. B.C. consistently sees strong immigration numbers.

B.C. has a net migration of around 150,000 to 175,000 people a year. Last year, B.C. only built around 50,000 homes. That pattern is consistent—there are always more people coming here than there are homes being built. So, there’s always going to be upward pressure on prices. Even with all this inventory, we’re not seeing real estate prices drop much; people tend to hold out.

Scott Baumberger: Right. We’re seeing that as well. With high interest rates, it’s expensive to move. If someone is locked into a 3 percent mortgage, it can be tough to suddenly jump to a 7 percent rate. Does that bode well for new developments in the next 12–24 months?

Deren Akinci: I would say so. In 2024, we saw many developers who didn’t need to launch pushing things a bit, just waiting to see how the fall would go. Now we’re seeing some projects pushed into spring. I have this conversation a lot with our clients—it really depends on their needs. It’s not a one-size-fits-all situation where you just avoid launching a project.

For some clients, it actually makes sense to go ahead. There are opportunities when there’s less competition in certain markets, and you want to take advantage of those. This is all about long-term thinking. In B.C., we have around $400 billion in clear-title real estate. These are homes that don’t owe a dollar on their mortgages. That’s going to drive a lot of real estate transactions in the future, especially as we see this big transfer of wealth from boomers to millennials. That’s what will drive a lot of transactions in B.C.

Scott Baumberger: Interesting. That’s massive. Are there any other big challenges that are top of mind for you right now?

Deren Akinci: Yes, I’d say one of the big challenges for us is that we’re growing so fast.

Scott Baumberger: Right.

Deren Akinci: One thing I didn’t mention earlier is that the team at ACE is just a wonderful group of people. They’ve been a small team, wearing many hats, working really hard, and putting so much heart into what they do. As we’re growing quickly and new opportunities are presenting themselves, it’s about making sure we grow in the right way and with the right people—those who share our passion, our values, and a drive to work hard and do cool things.

Scott Baumberger: That’s great. It sounds like the timing might be right for this, especially since you’re not in a particularly hot part of the cycle, allowing you to build infrastructure in anticipation of the next wave.

Deren Akinci: Yeah, I mean, I wish it felt that way.

Scott Baumberger: Right.

Deren Akinci: I wish it felt that way. When you’re in a slower market, especially on the agency side, you have to put more into it. There’s a grind involved, and sometimes you don’t see the big results you want. But it’s important to stay consistent, keep doing the small things, stay close to your clients, and keep at it. It ends up feeling quite busy.

Scott Baumberger: Yeah, you still have your hands full for sure.

Deren Akinci: One thing helping our growth is our affiliation with Oakwyn, a brokerage here. Oakwyn is actually a Vancouver brokerage with over 800 agents there, and they have over 100 agents in the Okanagan as well. Having that connection and support from the brokerage gives us the opportunity to grow in the right way and find the right salespeople for the right projects.

Scott Baumberger: Interesting. So, just really quick—with ACE, you typically work with developers. Are those your main clients?

Deren Akinci: Yes, absolutely. Sorry if I didn’t clarify that.

Scott Baumberger: No, no. It’s just that everyone does it a bit differently, so it’s good to confirm these things.

Deren Akinci: Right. So, as a full-service sales and marketing company, we’re hired by developers to take on the sales and marketing portions of their business. By "full-service," I mean we get involved at the very beginning. This is where ACE is a bit unique—sometimes, we even join in at the capital-raising phase.

From there, we move through the approval process, advising on design and product, creating a sales and marketing campaign, launching it, rolling it out in the market, and handling the sales all the way through to project completion. We also assist with the closing process.

Scott Baumberger: That’s interesting, especially some of the design services you mentioned—that strikes me as a bit unusual.

Deren Akinci: We see it this way: to have a successful sales and marketing campaign, we need to ensure we’re building the right product for the market. It makes the sales and marketing honest. If you have the right product, you don’t have to spin anything; you can just tell it like it is, and it’s going to work.

This approach is actually a major focus for us. We look at everything—from the ideal unit mix to the spec level needed for the product, and the kinds of amenities to include. Should there be a gym? A movie room? A yoga studio? We help ensure that the right product is being built for the target market.

Scott Baumberger: Excellent. That’s super interesting. We could talk about that for an hour, easily.

Deren Akinci: It’s actually my favorite part of the job.

Scott Baumberger: That’s really interesting. So, I was going to segue into comparing Kelowna and the Okanagan to the Lower Mainland. How are the projects different? I’d be curious to know about things like amenities, unit sizes—are there major differences?

Deren Akinci: There are. To understand it, you have to look at Kelowna’s history a bit. Before the 2000s, Kelowna was a small resort town known for vineyards, orchards, and natural beauty, but it definitely wasn’t a real estate hub.

Kelowna started expanding rapidly in the early 2000s, mostly through tourism. Many retirees came, and then the 2008 financial crisis hit, which stopped everything. Afterward, Kelowna evolved from a resort hub to a center of tech investment, which started bringing in professionals and young families. That growth has been pretty well sustained for the past decade, much of it driven by the unaffordability of other urban centers.

Scott Baumberger: I understand there’s a UBC campus in Kelowna now as well.

Deren Akinci: Yes, exactly. UBCO. And that’s one of the many reasons Kelowna is becoming its own center. The university has a huge campus here, and there’s been significant investment in the medical industry as well. They’re planning to add around 5,000 medical jobs, and they’re probably halfway through that goal now. So, this is definitely bringing more people to Kelowna.

When you compare the two markets, size is obviously the biggest difference. You’re serving a town of just over 200,000 people in the Central Okanagan, versus…

Scott Baumberger …about 2 million in Vancouver, right?

Deren Akinci:  Exactly. So, there’s also a big difference in affordability. The average single-family home price in Vancouver is around $2 million. In Kelowna, it’s about half that—around $1.1 million. That affordability factor is a big reason why people choose Kelowna.

I mean, take me as an example. I have a growing family, and I wanted more space. Kelowna is the place for that.

But beyond just space, it’s about lifestyle. If you had asked me to move to Kelowna five years ago, I would’ve said no way.

Scott Baumberger: Really?

Deren Akinci: No way. But now, with two kids, you start thinking about the upbringing you want for them, and you think about something similar to how you grew up. You can find that here in Kelowna. In Vancouver, it’s harder to find those family-friendly neighborhoods. And if you do, you’re likely an hour and a half to two hours in traffic away from the city center. So, it’s a trade-off. There’s less in terms of a big cosmopolitan center here, but you definitely get that Okanagan lifestyle.

Scott Baumberger: Well, it sounds like they’ve succeeded in creating a more well-rounded economy, not just relying on tourism and retirees.

Deren Akinci: Very true. I think Kelowna has strong long-term investment potential for exactly those reasons. The investment in key sectors, the lifestyle appeal, and a growing population mean people will continue to come to Kelowna.

Vancouver, of course, has global appeal, so it will always have that big population draw. But with the rising prices there, the opportunities for smaller-scale investors or family investors are getting harder to find.

Scott Baumberger: Vancouver is definitely the gateway to a lot of migration. Do you see Kelowna also becoming a place where people choose to migrate?

Deren Akinci: Absolutely. Kelowna has been one of the fastest-growing cities in Canada for the past ten years.

Scott Baumberger: That’s crazy.

Deren Akinci: Yeah, exactly. People are starting to see the benefits here. I don’t think that’s necessarily held true for this past year, but long term, it’s still going to continue to be a place with a lot of pull factors.

Scott Baumberger: I’d love to hear—have you had a recent project where you’ve learned something significant, even in your short time here in Kelowna?

Deren Akinci: Definitely, definitely. Like I said, it’s been a tougher year, but it’s about going back to what you can control—what I call "respecting the grind." We're in an industry that can feel so feast-or-famine. In these slower markets, it’s important to focus on what you can control, right?

Making sure you're following up with calls, getting the right product with the right pricing to market, staying close to clients, and truly understanding their goals. Through that consistent practice, the cream rises to the top. We’ve seen that with a few of our projects.

A great example is a project called Revo by Millennial Developments. They’re offering solid entry-level homes, and they’ve been steadily moving through their inventory this year. Now, they’re down to the remaining studio homes—a real success story.

Another example is Red Mountain. I might’ve mentioned this before, but it’s a project that isn’t affected by the foreign buyer ban—a government intervention aimed at reducing demand. Because of that exemption, it’s gained strong support from the U.S. market, particularly Spokane, which is only about two hours south of Rossland. We’re seeing a lot of U.S. buyers taking advantage of the exchange rate there.

And then there’s ACE’s flagship project, Water Street by the Park. They started selling this back in 2021 and sold out the first tower. The first tower has now topped off, and the second tower is about 10 stories away from topping off. It’s towering over Kelowna, getting a lot of attention. Even with a slower year, the sales team has stayed consistent—holding events, going out to brokerages, even doing events in Vancouver.

Just in the last two weeks, we closed two or three deals, with prices close to $1,300 per square foot, which is top-end pricing for Kelowna. That’s why staying consistent is so crucial, especially with the number of touch points needed for buyers in this market. Sometimes it takes 5, 8, even 10 touch points before they’re ready to think about that purchase decision.

Scott Baumberger: Absolutely. It’s a big decision, and with so much inventory, people have choices. Are you finding that it takes longer to close as a result?

Deren Akinci: Yes, for sure. Most of that inventory is in the resale market, while the presale market has a lag time of anywhere from 12 to 18 months or even up to three years between purchasing and moving in. But resale market performance does influence presale; when resale does well, people have more confidence in presale.

A lot of our education efforts are focused on communicating that with presales, they’re getting today’s prices at tomorrow’s interest rates. It’s an important message, especially for this market, which isn’t as experienced with presale projects.

Scott Baumberger: Funny how we’re pretty confident tomorrow’s rates will be better.

Deren Akinci: Fairly confident. They’re trending in the right direction.

Scott Baumberger: Well, thank you so much, Deren. As we wrap things up, is there anything else that’s giving you hope for the next year or so? What’s in your crystal ball?

Deren Akinci: Absolutely. As I mentioned, we’re seeing signs of recovery in the market. We’re gaining traction, and we have a lot of projects lined up for next year, which means developers are regaining confidence. The real solution to our affordability issue here in B.C. is building more homes.

We’ve seen time and again that demand-side measures have only short-term effects. In the long run, there’s often price escalation after a pullback starts. Every time the market dips, it’s followed by a big boom.

Scott Baumberger: Here’s hoping for that. Right there with you. I’m always in favor of new development.

Deren Akinci: One last thing I wanted to mention is a project from one of our clients called Home Plan. It’s an interesting product aimed at tackling affordability. Home Plan by North America Home Finance is launching a 1 percent down, rent-to-own program.

Unlike other rent-to-own options, where you lose equity if you leave, this 1 percent down program lets you keep a portion of your equity if you choose not to purchase at the end of your term, whether that’s five or seven years. It’s designed for first-time buyers trying to get a foothold in the market. They have a project in Kelowna called Home Plan at Five Crossings, which is just about to complete.

Scott Baumberger: That sounds like a great opportunity. It’s such a huge barrier for first-time buyers on both sides of the border. I’ll have to look into that. Thanks for sharing.

And thank you again, Deren. I really appreciate your time and all the insights. I learned a lot about Kelowna and what’s going on up there. Thanks so much.

Deren Akinci: It was my pleasure. Thank you, Scott.