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How to Market Luxury Homes

The pool of potential buyers interested in purchasing a luxury home is certainly smaller than for more moderately priced homes, and this explains why higher priced properties often spend longer on the market before a sale can be completed.
 
It can seem to some, that luxury homes can sell themselves, their beauty and amenities certainly make them dream homes, but in reality, the hefty price tags involved, require sophisticated marketing strategies to make the prospective client really fall in love with the listing.
 
There are certain tricks to presenting your prospects, in the best light possible and to help close that deal- here we share 10 pointers on how to effectively market a luxury home:
 
Modern House Rancho Santa Fe

  • Pricing
    Firstly you must ensure that the home is properly priced, a small percentage increase can be the equivalent of hundreds of thousands of dollars, on multi-million dollar homes and eager real estate agents will often promise a higher sale price to sellers to try and clinch the deal. By conducting an in depth market analysis and listing the home at a competitive price, you already have a greater chance of signing the right buyer, swiftly.

 

  • Custom Marketing Plan
    Like all aspects of luxury home real estate, the marketing strategy should be custom made. The agent must create a plan especially for the home, the neighborhood and the clients, to maximize the chances of a sale.

 

  • Go Beyond Photos
    Luxury homes are visually appealing and need to be showcased in virtual tours, videos and high quality photographs. These audio visual aids can make a huge difference, to how the home is valued and should be shot almost like a mini movie.Video Production is a vital aspect of Luxury Real Estate Marketing.As one of the premier Los Angeles Video Production Company, Lemonlight Media says,

    With the rising trend in luxury real estate video production, it is expected to have a professionally produced video of the estate. A potential buyer for a luxury estate is often busy working, and rarely has the time of day to truly take the time to drive to each estate the broker has presented to them and walk through the different properties. With drone and video footage of a luxury estate, the potential buyer can save a large amount of time by simply going over the footage of each estate, and choosing a few to actually visit.

 

  • Website
    Creating an individual website for a listing, not only acts as a great advertising tool which publicizes the address, but really makes the home feel like a luxury, one of a kid product and feels totally exclusive. Imagine if that website has exclusive video footage of the estate. Wouldn’t that help it get publicity?

Luxury real estate home pool backyard

  • Social Media
    There are a variety of social media platforms, such as Facebook, Twitter, and Instagram that really appeal to real estate buyers. They are often an untapped market to connect with potential buyers-it must be remembered that almost all of your potential buyers will have some social media accounts and by sharing the details of the listing a huge variety of buyers can be targeted all at once, with very little cost.

 

  • Diversify your Audience
    Agents should approach both potential residential buyers and developers to cover all bases, as the homes location may be more valuable to some, than the actual house. However, reach out to your warm clients first before diversifying.

 

  • Invitation Only
    Be selective with your audience for open houses, by insisting on invitation only viewings, you can avoid the gawkers, who just wish to nose around a fancy home. Also, ensuring that potential buyers qualify for finance, before they even have a look around the home, cuts down on wasted viewings and shows the current owners that you value their time as well as your own.

Luxury Real Estate Developments in Washington DC

  • Staging
    When you stage a luxury home you are staging the entire lifestyle that comes with an exclusive zip code. Try to help buyers to see themselves in an aspirational dream lifestyle that could be there theirs for the taking. You can go as far as hiring a staging company,  which will bring in incredible art and furniture. Some staging companies allows people to buy the art and furniture during the open house, so it is a win-win for everyone.

 

  • Sweeten the Deal
    If possible, see if the buyers are prepared to part with luxury items that could come with the sale of the home. Custom furniture or exclusive artwork could certainly help to clinch a deal.

 

  • Have Fun With It!
    Marketing luxury homes can be a fun and entertaining job as it allows you to showcase the architectural beauty of a magnificent estate.  Make sure to highlight the pros of living in the neighborhood, and within the luxury home.

 

We are here as a consultancy agency as well, so if you have any questions reach out to us today! We can help solve your real estate issues, sell your home, and help you buy the home of your dreams for you and your family.
 
 

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Since 1999 Best DC Real Estate has been in the Washington DC real estate business. First as a consultancy, later as a real estate agency, and today as a luxury real estate news source and consultancy to agents, investors, and brokerages.

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Why Work With a Local Luxury Real Estate Specialist?

The pool of potential buyers interested in purchasing a luxury home is certainly smaller than for more moderately priced homes, and this explains why higher priced properties often spend longer on the market before a sale can be completed.

It can seem to some, that luxury homes can sell themselves, their beauty and amenities certainly make them dream homes, but in reality, the hefty price tags involved, require sophisticated marketing strategies to make the prospective client really fall in love with the listing.

There are certain tricks to presenting your prospects, in the best light possible and to help close that deal- our expertise includes the following areas, and many more all of which allow us to more effectively market luxury homes and help others do the same thing:

  1. Pricing-Firstly you must ensure that the home is properly priced, a small percentage increase can be the equivalent of hundreds of thousands of dollars, on multi million dollar homes and eager real estate agents will often promise a higher sale price to sellers to try and clinch the deal. By conducting an in depth market analysis and listing the home at a competitive price, you already have a greater chance of signing the right buyer, swiftly.
  1. Custom Marketing Plan– like all aspects of luxury home real estate, the marketing strategy should be custom made. The agent must create a plan especially for the home, the neighborhood and the clients, to maximize the chances of a sale.
  1. Website-Creating an individual website for a listing, not only acts as a great advertising tool which publicizes the address, but really makes the home feel like a luxury, one of a kid product and feels totally exclusive.
  1. Social Media – There are a variety of social media platforms, such as Facebook, Twitter, Instagram and Pinterest that really appeal to real estate buyers. They are often an untapped market to connect with potential buyers-it must be remembered that almost all of your potential buyers will have some social media accounts and by sharing the details of the listing a huge variety of buyers can be targeted all at once, with very little cost. Even paid advertisements on these platforms cost a significant amount less than other traditional forms of advertising.
  1. Print Advertising and Direct Mailing -Traditional forms of advertising still have a place and are useful in the sense that they are tactile and can be physically saved and handed around to other interested parties, and can reach your audience even when they are not online.
  1. Diversify your Audience-Agents should approach both potential residential buyers and developers to cover all bases, as the homes location may be more valuable to some, than the actual house.
  1. Go Beyond Photos-Luxury homes are visually appealing and need to be showcased in virtual tours, videos and high quality photographs. These audio visiual aids can make a huge difference, to how the home is valued and should be shot almost like a mini movie.
  1. Invitation Only-Be selective with your audience for open houses, by insisting on invitation only viewings, you can avoid the gawkers, who just wish to nose around a fancy home-ensuring that potential buyers qualify for finance, before they even have a look around the home, cuts down on wasted viewings and shows the current owners that you value their time as well as your own.
  1. Staging -When you stage a luxury home you are staging the entire lifestyle that comes with an exclusive zip code. Try to help buyers to see themselves in an aspirational dream lifestyle that could be there theirs for the taking.
  1. Sweeten the Deal -If possible, see if the buyers are prepared to part with luxury items that could come with the sale of the home. Custom furniture or exclusive artwork could certainly help to clinch a deal.

 

Your Luxury Real Estate Experts

While our expertise is locally in DC, we have clients all over the country in major luxury markets such as New York, Miami, Dallas, San Francisco, and San Diego. Examples of our work in national market include marketing efforts for some of the premier luxury homes in Southern California most recently a number of prime Wildflower Estates properties. In addition to our real estate expertise and years of knowledge in several luxury real estate markets, we pride ourselves in working hard and with respect and integrity. Get in touch, and give us a try.

 

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