You already know that marketing and selling luxury homes differs from marketing entry-level homes. But you may need help pinpointing the differences. We hope you have already read one of our guides on how to get into luxury real estate, including Guess What U.S. City Has the Most Expensive Real Estate? (Spoiler! It’s Manhattan!) Now, let’s take a deep dive into the marketing strategies of high-end real estate companies.
8 Tips to Sell Luxury Real Estate
The first step of selling anything – from tote bags to racehorses – is understanding the wants and needs of your target market. So, we’ll start there – and then give you specific luxury home marketing ideas.
1. Understand your target market.
Even though your marketing efforts will target the wealthy, younger affluent buyers have different expectations than older wealthy buyers. It’s essential that you understand these differences.
Additionally, if you are marketing to international clients, you need to understand cultural differences and accommodate different languages.
Create a consumer profile to help you understand the expectations of your client. This also enables you to learn what features to highlight when marketing a specific property. Knowing your target market will also help you identify the platforms you’ll utilize in your marketing campaign.
In short, your consumer profile should establish the demographics and buyer persona you are targeting for this sale – and the data to support your profile.
2. Utilize high-end video production.
High-quality video is a necessity for luxury real estate advertising. Using your consumer profile, hire a pro to create videos highlighting features that appeal to your target demographic.
Even before Covid, wealthy buyers relied on video, virtual reality, and augmented reality to tour homes – especially if they relied on staff to handle the deal’s details.
You’ll need several short 10 to 20-second cuts and a longer, more detailed piece. Finally, you’ll need one to highlight the property’s location – perhaps starting with a view from Google Earth.
Some luxury real estate marketing materials also include lifestyle videos, allowing clients to envision what it would feel like to live at this location. These are used in luxury apartment advertising or high-end real estate developments.
3. Emphasize the property’s amenities.
When showcasing luxury real estate, highlighting the property’s amenities is key. Buyers are looking for a luxury experience, so make sure you show it to them!
From high-tech appliances to state-of-the-art home automation systems, these features elevate the property’s appeal. Ensure your marketing materials showcase these amenities and features. After all, in luxury real estate, the details make all the difference.
4. Use exclusivity in marketing.
Are you looking for tips on luxury real estate advertising? Don’t advertise.
Using exclusivity when marketing a high-end property can be a successful strategy – if done well. And, of course, this strategy is also helpful if your firm has a deep contact list of potential clients who you know would be afraid of missing out on the next big thing.
5. Highlight unique experiences in marketing materials.
Younger affluent buyers value experiences perhaps as much as amenities. So, if there’s a unique experience you can connect with the property, use that as a strategy to attract high-end real estate clients.
For example, the property no longer has an “English country garden.” Now, it’s a “meditation garden.” Using wellness in luxury real estate branding is extremely popular. So, show a model doing yoga in your lifestyle video to help potential clients envision their healthy, new life in their beautiful new space.
6. Use professional stagers.
Expertly curated interiors can transform a space, showcasing its full potential. By enlisting the services of skilled designers and stagers, you can elevate the property’s aesthetic and appeal, showcasing the type of refined living buyers can expect if they purchase the home.
Professional staging ultimately sets you up for a successful sale, ensuring that every aspect of the property exudes the elegance and sophistication that buyers expect.
7. Price properly.
In luxury real estate, pricing is almost an art form. It’s crucial to strike the perfect balance between exclusivity and market value. Overpricing can deter potential buyers, while underpricing may undermine the property’s perceived value.
Conducting a thorough market analysis and considering the property’s unique features and amenities are essential in determining the optimal listing price. By pricing the property appropriately, you can attract discerning buyers who recognize and appreciate its true worth.
8. Begin with a luxury listing presentation.
Crafting a compelling luxury listing presentation is the cornerstone of a successful sales strategy. This presentation should showcase the property’s features and amenities and convey its unique value proposition.
From stunning visuals to comprehensive market analysis, every aspect of your presentation should balance professionalism and sophistication. By starting with a well-executed listing presentation, you can effectively capture the attention of high-end clientele and set the stage for a successful sale.
Colibri Real Estate School Will Help You Increase Your Earning Potential
Colibri Real Estate School offers courses in various relevant topics, including marketing with social media, writing a listing that sells, and how to handle multiple offers.
Colibri Real Estate School offers individual courses and packages that enable you to purchase all the classes you need to renew your real estate license. And, of course, the materials are in an easy-to-learn format that makes even the most complicated material accessible. You have depended on Colibri Real Estate School to become a real estate agent. Now, rely on Colibri to help you increase your earning potential.
