From marketing materials to ongoing interactions, an agent’s approach to luxury buyers is different than selling to other clients. Luxury buyers are well-researched, trendy, and know what they want. Offering freebies or an open house with a few snacks is not enough to gain the trust and business of these high-end clients. Learn how to connect with luxury real estate buyers looking for a home and get them to take action.
Focus on the Presentation and Product
For luxury buyers, the presentation is as crucial as the product. These discerning clients want an experience rather than a simple showing. An agent must create an extraordinary display to showcase all the features of the home. A client needs to feel everything about the house is unique. A pre-market showing creates a feeling of exclusivity and urgency. Put out high-end gifts for visitors to take along with a glossy brochure about the house and a business card with detailed contact information. Agents should be accessible by landline, cell phone, email, text, and social media. Failure to make contact immediately could mean losing a multi-million dollar deal.
Agents looking to narrow in on the luxury niche must be prepared for all types of requests. Get to know the real estate market locally and in highly coveted luxury areas. Have a finger on the pulse of a wide variety of locations that appeal to luxury buyers. When agents have a short list of properties to share with these buyers, it shows they are ready for business. Network with agents in the most desirable areas. It is better to refer a luxury client to another agent and earn part of the commission than losing the client entirely. Luxury buyers work with a network of professionals and so should the agents who cater to them.
Take a Demographic Approach
The luxury market is broad. Some are part of the ultra-wealthy one percent who readily purchase multi-million dollar homes around the globe. Others are well-heeled professionals such as doctors, lawyers, and financial consultants. And there is a growing number of successful creatives looking to buy high-budget homes. Focus on a niche and pursue it thoroughly. Connect with the associations that professionals belong to and find out where they go for recreational activities. Join the local yacht club or country club. Visit libraries, coffee houses, and community centers where creative people gather. Being seen at these places makes an agent’s face familiar to these potential clients. An agent who interacts in their world is often perceived to be more knowledgeable and trustworthy.
It Takes More Than a Million
Fortune recently reported on the changing values in the current luxury real estate market. As home values and prices continue to rise, the luxury real estate market is being redefined. A house worth one million dollars or more is considered a luxury property. However, some buyers find the homes at this price point are less than palatial, especially in pricey locations. Agents need to share multi-million dollar listings with the most selective buyers. Remain abreast of current housing values and adjust them accordingly to accommodate luxury buyers. Most high-end clientele already works with a team of professionals such as lawyers, financiers, and accountants. Luxury real estate agents should also connect with a similar team that can provide meaningful, little-known updates and options. An agent with the right answers becomes a valued resource.
Great marketing is not enough to reach out to luxury buyers who expect magnificence. Consider taking a marketing course online or work with marketing professionals to refine luxury property campaigns. Be prepared to spend money on luxury marketing campaigns. Distribute glossy, detailed printed materials on top grade paper. Affiliated Better Homes and Gardens(R) Real Estate agents have access to a myriad of high-end marketing tools and resources including a luxury digital publication and blog to stay connected with prospects. Create a customized website to showcase a single luxury property. Craft a unique listing description with high-quality images that give buyers a tour of the house. Include a video tour of the home. Take advantage of updated technologies, such as 3D video and drone aerial images, to show a property from every angle. Host upscale events to showcase the house, such as a party for a local publication or celebrity. Get to know the neighborhood, including commute times and accessibility to luxury amenities, for a hyper-local marketing approach.
Connecting with luxury real estate buyers looking for a home is the first step to cornering this lucrative niche market. Once these connections are established, become a valued resource by providing detailed marketing materials and access to a helpful team of professionals to facilitate the process. Closing one successful deal is sure to lead to others.