Marketing a luxury property requires a special approach. Agents who list and sell high-end homes need to focus on visibility strategies that highlight features in a unique way.
While marketing ordinary listings typically involves taking property photos, arranging virtual tours, and scheduling opening houses, luxury properties need an elevated playbook.
From day one, high-end homes must have all the marketing essentials (done up a notch) plus more.
This guide to marketing a luxury property will show you how to create a plan for your listing that will match the upscale home with the right buyer.
Pay Attention to Detail
Real estate professionals selling luxury homes need to create an experience around the property that speaks of quality and nothing else.
Every aspect of your marketing, every point of attention you bring to the home, must be refined.
This means, of course, that the home needs to be immaculate down to the smallest detail. You should hire a professional to clean. Staging is essential, unless the interior and exterior already look like they are ready for a spot on television.
Your marketing materials must be impeccable. There is no excuse for typos or amatuer-looking graphic design on anything printed or shown online.
Spend What You Need for First-Rate Marketing Materials
You and your seller will earn a lucrative payout when you close the deal on a luxury listing, so spend what you need to properly market the property.
Pay for the best photographs, videos, virtual tours, drone photography, dedicated websites, flyers, magazine ads, TV spots, and social media placement. Hire professional copywriters to craft your listing descriptions and advertisements.
You want buyers and other agents to perceive everything about your luxury listing in the most elevated light. Dress to impress, let’s say. Make your high-end home stand out as something completely out of the ordinary. Perception is key.
Create a Story of Exclusivity Around the Property
You do not simply list features when you successfully market a luxury home. You build a story around the property, one of exclusivity and mystery.
Draw buyers and their agents into a tale of prestige. Let them in on the luxury lifestyle that surrounds the home.
Talk about screening parties and poolside soirees. Create videos where blissful homeowners and guests step out of the home’s living room and onto the sand (with gentle waves breaking just feet away, of course).
The idea is to make your target buyer perceive the ultimate in luxury and exclusivity. To promote the home as a lifestyle residence where luxury knows no bounds.
Take Time to Know Your Target Buyer
Agents who successfully sell luxury listings take time to know their target buyer. They understand this person’s physical and psychological needs. Every detail of marketing the home caters to their desires.
Marketing materials, messaging, and communication for an upscale home need to focus on the features, benefits, and values that mean the most to upscale clientele.
Looking at statistics and getting out there to talk with luxury buyers, and to network with their agents, will shed light on what you need to do to sell to this unique buyer group.
More Ways to Market a Luxury Home
These are only a few parts of the process for marketing a luxury listing. For your next upscale property, make sure you:
Price the home correctly. Pricing luxury property is partly a numbers game and quite a bit of psychology. Do your research to find out what similar homes sold for, but remember that luxury is relative so you can price your listing for whatever you think your target buyer is willing to pay.
Personalize your marketing approach. Not all luxury homes are alike so all marketing materials for these upscale properties should be the same. Take the time to discover what is unique about your listing and the buyers who would be willing to pay top dollar for it, and then reach out in ways that are meaningful.
Make it a pocket listing. There are plenty of reasons why a seller may not want you to list their home on the MLS. Leverage their privacy and turn your pocket listing into the next best must-have property that only the top, most exclusive agents of the most exclusive clients, know about.
Want more tips on marketing luxury listings? Read our Clean Slate Blog.