Some real estate pros have set their sights on breaking into the lucrative luxury property market, but doing so isn’t easy. Thankfully, renowned author Jim Remley, who’s titles include “Real Estate Presentations That Make Millions”, has shared a few tips on how to sell high-end real estate.
Understand luxury buyers
Remley knows that luxury home buyers are not your usual kind of client. “[they] aren’t like other buyers”, he said, noting that they won’t be found in the same markets, nor should you try to ‘sell’ a home to them in the same way you would with other clients. Instead, most luxury home buyers sees themselves as special and want to be treated like it. That means invitation-only open houses, private viewings and so. And they’re big on presentation too, which means finer details like live music, wine and food should be on offer.
You should also note that wealthy people are wary of other’s intentions towards them, which makes them more likely to choose an agent from a personal recommendation.
Make them feel special
According to Remley, luxury real estate buyers love ultra-exclusivity, which means you should make them feel as though they’re a very special client. One idea is to create a branded luxury home booklet for each listing that can be shared with a select group of potential buyers. Your booklet should of course be slick, glossy, with professionally taken photos of the home’s exterior and interior.
Use the power of emotional
Some buyers are willing to shell out millions of dollars for the right home, simply because of their emotional attachment to it. With that in mind, try to use emotional marketing tricks to make prospective buyers feel good about a property. Remley suggests the following idea:
Instead of writing “This home has a great deck,” on your marketing materials, try: “Couldn’t you see yourself hosting a great graduation party for your kids on this deck?”
It’s important to try and create an emotional connection by helping buyers to imagine living at the property, Remley says.
Use your network hub to create buzz
Remley suggests building up “buzz” about a specifc property via your network hub – in other words, your most socially active contacts. This includes people who are leading social groups, for example a church or Rotary club, people such as CEOs, celebrities and reporters, and those who’re active at work and volunteer for their communities.