Luxury buyers and sellers are savvy clients with unique requirements. Cornering this lucrative niche requires ongoing research and attention to detail, whether clients are buying or selling houses. Learn how to use intelligent data to market luxury homes and get your share of this profitable target audience.
Basics About Market Intelligence
Market intelligence focuses on being aware of the state of the real estate industry and what the competitors are doing. Smart marketers use analytics and data analysis to determine the current target markets, client questions and searches, competitor activity, and potential for new markets. Surveys, search engine analytics, social media, and other sources provide vital data to fuel stellar luxury market campaigns to sell high-end homes faster.
Explore the Customer Journey
Most clients gather information online when they want to find out about luxury homes for sale. Examine the customer journey through the website to determine the level of engagement and areas of improvement. Determine how visitors arrive at luxury home websites and listings and where they come from, as well as what they do at the site. Test various colors, patterns, campaigns, and taglines to find the ones that resonate best with luxury clients.
Connecting People With Intelligence
Marketers also use real-time data systems and tools to instantly determine the impact of various initiatives . This data can be used to determine what type of luxury homes buyers want to purchase or build and how to reach this target audience. High-end buyers and sellers are busy and rely on agents to handle all the heavy lifting. The goal is to deliver a streamlined experience that answers a potential clients’ preliminary questions with a compelling call to action that encourages a point of contact.
Gauging Granular Insights
One of the most significant advantages of tapping into intelligent data is going beyond current data to gather non-traditional information illustrating granular insights. Agents can go beyond lot size and neighborhood to determine specific factors such as how and where light enters the home during the day and the level of noise in the area. Luxury clients both expect and appreciate this level of detail when they buy and sell a property.
Priced to Sell
Comparable home sales, the value of luxury features, and other vital factors go into pricing high-end houses. Local knowledge and specific data are essential to provide the facts and figures necessary to facilitate a meaningful offer. Supply and demand is another condition to consider when pricing luxury properties. Pricing homes to high or low can hurt sales and an agent’s reputation. The right price ensures everyone feels like a fair deal was reached, leading to more niche referrals for agents.
Using Technology Wisely
What do luxury buyers and sellers want? An agent needs to scrutinize the target audience to get meaningful answers. Simple strategies, such as conducting surveys on social media, can help agents gather enough information to exceed the expectations of these thoughtful clients. From local developers to government data experts, agents have a wealth of resources to tap for little-known facts and statistics. Agents have information about existing homes and new builds to meet the luxury market demand. Plus, innovations such as drone photography and virtual touring better showcase expensive properties. Better Homes and Gardens® Real Estate affiliated agents can choose from a library of compelling images to market homes.
The use of intelligent data and technology helps match the right buyers with luxury homes. With specific criteria such as a gas fireplace or granite countertops, agents can find the houses best suited to their clients’ preferences and needs. Home searches are easier for clients who can choose the attributes they prefer. The narrower the search, the fewer the results, giving buyers less to consider. Instead, they can focus on viewing the most viable homes, which ultimately leads to faster and more meaningful offers.
Maintain Leads and Contacts
Agents also harness the power of advanced technology to maintain leads and contacts. Establishing a database of potential buyers and sellers, investors, and professionals puts everything necessary to serving luxury clients, at an agent’s fingertips. Detailed information can help agents pair possible buyers with new listing that meet their criteria. In some instances, luxury homes might not even need to be put on the market to get sold. Providing this level of service is sure to help agents get more referrals.
Access to personal data and signatures via electronic methods helps streamline the transactional process. Signing paperwork and closing on a property now takes a fraction of the time, which is appealing to busy clients making significant real estate investments. Deals can be facilitated from remote locations, making it easier than ever to put together global real estate transactions. As a result, agents selling houses have a large pool of prospects who are qualified to make offers on luxury properties.
Successful agents are learning how to use intelligent data to connect with clients, market luxury homes, and analyze the current market as accurately as possible. By narrowing down the possibilities, agents can more effectively match luxury buyers with the right properties. With the correct data, agents can corner this competitive and lucrative niche market.
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