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Let’s be honest, the luxury real estate market is not an easy market to dive into. Thanks to the many uncontrollable factors that come into play, selling a luxury property requires more art than it does numbers and statistics. Selling luxury homes is not a repetitive system where one size fits all. It takes more than a simple plug-and-play concept, even with the variety of technological tools available to you.
Luxury listings only make up a small fraction of the real estate market. These properties have exquisite designs, high-end architecture, surfaces, and compartments, offering top-notch accommodation. As an agent in the luxury real estate market, your marketing efforts need to captivate buyers and sellers the same way these beautiful properties do. Are you an agent looking to sell at a luxury price point? With the help of our founder, David Collins, we’ve listed some proven approaches that have helped many agents like yourself STEP INTO LUXURY!
Get creative with your real estate marketing tactics and approach. Sometimes, you need to step out of the box and find a new way to market homes or find ingenious ways to use old marketing techniques. Consider what’s important to buyers and sellers in your specific neighborhood, then take another look at your direct mail marketing, brochures, postcards, and market reports in your target market. Real estate marketing doesn’t always have to be by the book. Push the limits of your creativity to find an effective and appealing approach to attract your target audience.
Before engaging in luxury real estate marketing, you need to understand who your market is and what they want. Luxury buyers and sellers are interested in your experience in their price point, while non-luxury buyers and sellers focus more on your experience in their specific area. A luxury seller would typically ask if you have sold anything at that price point before, while a non-luxury seller would ask if you have sold anything in their neighborhood.
Do you see the catch-22? Sellers need you to have previous experience but will not take the chance of allowing you to gain said experience with their property. This dilemma is one of the reasons the market is so hard to break into.
If you are a luxury real estate agent having difficulties acquiring luxury listings, you may consider marketing just below the luxury price tag. Instead of trying to sell a million-dollar home, consider targeting slightly lower price point listings, i.e., around $800,000. The logic is that buyers below the luxury price point will become luxury buyers in the future. As a potential luxury real estate agent, you will journey with buyers until they become luxury buyers themselves and will help them list each property along the way.
Remember that the luxury price tag may differ based on the town or city you are based. Verifying the market specific threshold will allow you to know what price points to focus on.
Ask yourself, “Where’s my price point threshold for an elaborate property brochure?” That’s exactly the price point you should start your journey into the luxury market. When considering how you want your property brochure to look, consider the type of properties and their prices. Although, we believe every marketing piece you produce should be unique and of the highest quality. Defining this threshold will help you identify when you need custom property brochures or when you should invest in luxury brochures.
A property brochure contains a multitude of information about a property and the community. It is a valuable resource for the marketing and sales of any property and typically carries news about local attractions, transportation, and other details.
What defines a property brochure as luxurious? Luxury property brochures are typically made of high-quality papers with high printing resolution. It should be no less than four pages, UV coded, and can sometimes include foil elements. The design and layout should be clear and concise, flowing elegantly with beautiful high-resolution photography.
To become a local expert, you must find creative ways to market to residents in your neighborhood consistently. A proven strategy utilizes real estate postcards and market reports. Postcards can be used for several purposes such as letting potential buyers know that your listing is on the market, showcasing how you will market potential sellers’ properties if they list with you, and presenting the type of results you are helping your clients achieve. These cards are an effective marketing strategy that have withstood the test of time. Additionally, market reports provide a powerful combination of personalization to each recipient, professional quality, and relevant neighborhood information making you the source of import information in your local market.
The bottom line with real estate marketing is that consistency creates trust and builds a relationship with homeowners in your target market. We encourage every agent to make sure they can scale their marketing efforts consistently over time for the best results.
As you can see, breaking into the luxury real estate scene requires determination, consistency, and awareness. You need to know when to go all-in with strategy and precision, and you also need to know when to get creative with your marketing approach. Once you have found the right balance between the two, decide who your audiences are and what your price point threshold is. Finally, when all of that is determined, remember to stay consistent with your chosen marketing strategy. Real Marketing has successfully helped thousands of real estate agents like yourself successfully STEP INTO LUXURY, utilizing our 30+ years of expertise to help you DOMINATE ANY NEIGHBORHOOD, ANYWHERE!
This will be completely turnkey for you. This means you’ll only need to approve the initial design and first mailing! Each month after that these will be prepared with new data and sent for you at the same time every month.
BECOME THE DOMINANT FORCE in your community. By presenting homeowners with quality and relevant information, we position you as the hyper-local expert. The impact is immediate — your marketing and professionalism showcased.
Whether you are just starting out or have an established brand, the Personal Sphere is a great piece to maintain your personal connection to clients, friends, and family. Our Personal Spheres can be selected as a one-time mailing or be developed as a year-long marketing campaign.