Luxury real estate is a hot commodity in many areas of the United States. Still, discerning buyers are often looking through unique and complex lists of listings. If you’re a broker or listing agent, you know the basics. Here are five essential tips to take the demand for your listings to the next level.
1: Hire a Professional Photographer
Photographs are essential for any real estate listing, luxury or not. The difference here, as with all aspects of this tight market, is in the quality. It may seem enticing to save a bit of money by just taking the listing photos with your cell phone, but saving those few dollars now will cost you in the long run. Hiring a professional photographer will elevate your listing and draw the eye of serious buyers. Professional photographers will know how to stage the furniture, lighting, and decor to bring your listing to the next level.
2: Know Your Market
Knowing your market sounds basic, but there’s a lot that goes into marketing the right property to the right people at the right time and place. Before launching your marketing campaign, assess the current housing market needs. Think about the types of residential or corporate buyers in the area, seek them out, and ask them what they’re looking for. Doing an in-depth analysis and combining it with face-to-face marketing is a surefire way to embed yourself and your listings in the communities of people who are buying.
3: Traditional Advertising Isn’t Dead
Luxury buyers aren’t always trendy tech workers. Depending on where your market is located, it’s still worth looking into more traditional advertising methods. Whether you’re taking out a quarter page in a local daily newspaper, placing bandit signs around high trafficked areas, or buying a full page in a larger publication, traditional advertising still works. Catching the eye of older empty-nesters or more nostalgic readers is a key way of reaching buyers with more income and an eye for luxury.
4: Social Media Advertising
Everyone knows that social media advertising is an exceptionally efficient and effective way to get marketing information to your target audience. The trouble is standing out from the crowd. In addition to more traditional boosted posts or tweets, consider branching out. Create a sale listing on Facebook and monitor it regularly for interested buyers. Innovate with other platforms like Instagram or Twitter by creating accounts for your properties or company. Make sure, however, that the accounts are active and posting frequently. This is an excellent opportunity to combine tip number one and put those professional photos to work. Make sure to monitor your social media accounts and posts you make so you don’t miss any interested parties.
5: Set up a Dedicated Website
In addition to social media, a dedicated web presence is critical for any business, and luxury real estate is no different. Ensuring that your property shows up in a web search is a simple and effective way to make sure that buyers come to you. Make sure to put plenty of content on the site, from photographs to testimonials from other satisfied buyers. Most importantly, make sure that buyers can contact you easily and that you or your team respond promptly to any inquiries. Luxury buyers are looking to buy the best from the best, and accommodating a late night or early morning inquiry with speed is a great way to show you’re committed to buyer satisfaction.
6: Work Your Network
Even with all of the marketing tools available in the digital age, it’s important to make sure you don’t ignore the classics. The Rolodex may be a thing of the past, but combing your phone contacts is a sure-fire way to find interested buyers. Even if none of your contacts are looking to buy, it’s almost guaranteed that at least one of them knows somebody who’s buying. If your existing network isn’t bearing fruit, branch out. Upwardly mobile professionals are savvy about networking. Finding them at networking or social events is a great way to meet your next luxury buyer.
Luxury real estate is a tight and fast-moving market. It’s no longer enough to simply have a property available. The luxury real estate buyers of today are looking closely at their options. Following these six tips is a great way to elevate your listings. Even in uncertain times, great marketing can lead to great sales numbers.