Luxury real estate businesses have been steadily flourishing, and with the seemingly never-ending lockdowns, sales are predicted to spike up. Social isolation has turned everyone’s attention to their homes. They cannot avoid any shortcomings in their homes anymore.
Remote working and schools have everyone desperate for a designated personal space and a backyard to spend some time outdoors. These people have turned to luxury real estate businesses to seek spacious, comfortable, and unique homes in less populated areas.
These circumstances have definitely opened up golden opportunities for businesses in this sector. However, to benefit from them, the business has to put in effort too. Your business must be in the spotlight to be the supply to their demand. Given below are some ways to market your business to ensure you do not miss out on the opportunities:
1. Advertise in Newspapers
Do people still read newspapers? Believe it or not, yes. In the USA alone, 25.8 million newspapers are distributed every Sunday. Most of us are glued to our screens today. Especially people on the wealthier side of the economy. While this condition is favorable for digital marketing, it is also beneficial for newspaper marketing. The constant interaction with electronic devices makes the morning newspaper a much-needed break.
Most potential buyers may not have access to local prints due to constant traveling. It is important to reach your potential customers. Ensure to advertise your listings in well-reputed and international newspapers. This way, your listings will have more interested buyers.
2. Dedicate a website to a property
For customers to value your listings, the business needs to show they are equally as invested in the listings. You need your listings to be exclusive for them to be convinced to pay the staggering amount of money.
Create a website tailored to each of your listings. It must be exclusively showcasing the estate. Bring out each of the prominent selling points of the estate. Many companies use various equipment to attach stunning pictures of the estate. Due to the ongoing pandemic, many are hesitant to take a physical tour of the area. To counter this, one should consider using 3-D tools to allow visitors to navigate and take a virtual tour of the place.
3. Share a Story
Making a website is not all pictures and virtual tours. You must have textual content as well. Without it, visitors will take the tour then leave. But your idea here is to sell your listings. Many times what viewers may miss, your content will point out.
To have compelling written content, consider hiring a professional copywriter. These experienced individuals understand your website visitor psyche. They know which points to mention and which to leave out. With the help of professionals, your website will be crisp and professional.
4. Video Marketing
You have textual and image content covered. But no good luxury real estate marketing is complete without video content. Videos are highly effective marketing strategies. They engage audiences with stunning audio and visuals while enabling them to retain valuable information. This is the key goal of any marketing strategy. 92% of marketers say videos are an important part of their strategy.
Having high-quality videos is necessary when marketing. One must have the perfect background music and smooth edits to further enhance the viewer’s experience as well. There are multiple software and web applications available today to assist you with the aesthetics of videography and editing videos. Utilizing all resources available to the fullest is paramount to getting the best final product. Once these conditions are met, sharing it on all platforms will ensure maximum success.
5. Modify Direct Mail Strategy
Direct Mail Strategy is extremely effective when done right. Sadly, most real estate marketers fail to succeed at it due to faulty strategies. The most common example of direct mail marketing is sending the qualifications of the real estate agent. But you are trying to sell your listings. This is why most of these direct mails are thrown away.
As a luxury real estate brand, your direct mail strategy should be better than that. Firstly, you must regularly distribute these emails. Your brand should be recognizable. Secondly, your mail should be worth their time. Providing valuable information is the best way to do it. Lastly, it has to be welcoming. Your customers want to feel they can trust you. Build a bond rather than simply selling.
Crafting the mail with appealing designs can make the strategy even more effective. The designs will prompt them to open the mail, which is your end goal for this strategy.
6. Host Events
Luxury real estate marketing and real estate marketing are two completely different worlds. What might work in one section might not in another. In fact, the highly popular real estate marketing strategy of ‘open house’ is one of them. This does not work to attract people on the upper side of the economy. This is because most will attend out of curiosity rather than to purchase.
But a similar strategy is to hold an event in the estate. It will give a purpose to invite high net worth individuals to the estate. Holding an event will allow the attending people to have a first-hand view of the place and the perks that come with it. When guests come over, ensure to have sanitizers installed wherever needed. This will showcase your care for the attendees.
7. Sell Slightly below market price
Many real estate agencies fear that listing slightly below market price will fuel losses. However, this is completely wrong; it does the exact opposite. This will be especially effective if you need a brand reputation. Customers will know your brand gives out the best deals.
Listing luxury real estate below market price instantly appeals to a larger demographic. More people will be interested in buying, and adding a ‘limited time offer’ spikes the number of potential customers. If the estate is desirable enough, this may develop a bidding war.
The number of customers looking to buy luxury real estate is predicted to spike in 2022. COVID-19 has played a large role in this market. While it has brought us upon unfavorable circumstances, it has encouraged the marketing world to be more creative. These creative methods have been extremely effective in the pandemic and will continue to be as we return to normal lives.
