There exists a narrow pool of prospective buyers for a luxury home and it may take longer than six months to market and successfully sell a luxury home. Many of these homes are one of a kind and are heavily customized. This narrows the pool of available buyers. These keen property details also make it appealing to a distinguished buyer.
There are numerous items to consider when successfully marketing a luxury home. Here is a brief guide-
Anonymity and Discretion – Many Buyers and Sellers do not wish to be public identified. The Real Estate Broker and Agent should take precautions when marketing the Luxury Real Estate to protect the identity of the seller and/or the buyer.
Security – Luxury homes often have luxury items as fixtures or personal property of the property owner. Undertaking precaution and maintaining security is prudent when conducting a property showing. Many of items within the home are valuable. Often, due to security, the use of lock boxes, yard signs and open houses is limited. Agent presence and keen follow up is essential. Detailed knowledge of the one of a kind type features would be essential to provide detailed explanations to a potential buyer. Additionally, a detailed reaction report of each showing would assist the seller in this sometime arduous process.
To reach the intended target audience many of these tools target the message with superb results.
Marketing Tools-
- A local artist’s pen-and-ink sketch of the house is ideal and appears striking and crisper in Newspaper advertising.
- A glossy, full-color brochure describing the property features; listing of the property in national newspapers.
- Target Marketing with Online Advertising of the Property. Marketing the Property on specific sites online gets the information to out of state and overseas buyers.
- A Professional video of the property for direct mailings provides an excellent opportunity for the buyer to initially assess the property and contact the agent with questions
- A Professional Luxury cutting edge Website specifically created for the home with Features including a Flash Audio/Video. Depending on the Home certain accents may be preferable over others for the audio.
- A Professional Luxury cutting edge Website specifically created for the home with Features including a Flash Audio/Video. Depending on the Home certain accents may be preferable over others for the audio.
- With the Luxury Real Estate Market affiliations the agent can market the property discreetly to out of state clients.
- Employ a Search Engine Optimization Technical team to market each effort with individual focus and attention.
The marketing techniques utilized in luxury real estate are creative and most often draw on cutting edge technology to appeal to both the wealthy buyers and sellers of multi-million dollar homes. The challenges in selling luxury real estate are immense, and the broker/agent must creatively market each individual property to make the home buying and selling process appealing and customized.