Category: Marketing

Luxury Real Estate Marketing Essentials – Visionary Thinking

Visionary thinking is one of the most important components of the luxury real estate marketing. If market leadership is your quest it is essential. A championship mindset is what will set you apart from the pack. When asked about his mental preparation for the Olympics, swimming champion, Michael Phelps, responded that he trained not only his body but his imagination. He consistently envisioned himself winning gold!

What is visionary thinking in luxury real estate marketing? It is challenging traditional marketing practices, examining and re-examining your beliefs. What worked in 2004 in a hyperactive market may not apply today. It is knowing, that in the deconstruction of your ideas, you may keep all, or part, or none of your current marketing methods.

Here is an example of visionary thinking in luxury real estate marketing. One of our clients is the market leader in Napa Valley, California. She needed a different approach to sell a particular high end listing. She noted that the seller was a car collector and often exhibited his prize possessions at the Concours d’Elegance. This is where owners the most beautiful and rare automobiles are invited to showcase their cars on the famed eighteenth fairway of Pebble Beach Golf Links, in California. Connoisseurs of art and technology congregate to ogle over these magnificent driving machines. How did she know about this? She takes the time to really understand her clients, learning what they value most and what they like.

Instead of advertising this property in a glossy magazine (the usual fare), she had the property on a billboard at the Concours. And, she had a flyer with the giveaways at the event. This was a great strategy. She knew that the demographic gathered there could afford the house. She did this unbeknownst to the seller who was supposed to be out of town during the event. But, his schedule cleared up. Imagine his surprise seeing his home advertised just where it should be seen! The house sold, our client was hailed as a genius, handed referrals and other car enthusiasts contacted her as well.

It is exploring new possibilities. It is being willing to make the impossible possible. It is fluidity in motion without containment; it is allowing maximum freedom of creativity. It is exploring the edge as in Star Trek’s opening monologue, “to boldly go where no man has gone before”. Star Trek accomplished this in the show itself by featuring a multi-racial ensemble cast, a first in television, in 1966. Equality was the norm on this show.

Luxury Real Estate Isn’t an Easy Game to Win

If you’re a worker in the real-estate agency, you’ve already dealt with the tough challenges and exciting rewards it has to offer. Sooner or later you’ll come across a property that sticks out above the rest. Something that is so exhilarating, profitable, and favored that it can only be classified as the high-end luxury real estate market. This is a tight genre that is nothing usually dealt with on an ordinary basis; your customers will be paying far more, but they will also be expecting far more as well. You will be dealing with a completely different market and will have to handle the situation in an entirely new manner.

There are a few rather simple steps you can stick to that will help dealing luxury real estate much easier. Keep them in mind at all times and you’ll find you have an easier time loading and unloading the high-end property.

Take the extra step

You must always be ready to take that additional miles; take a private showing on a quick notice, keep refreshments readily available during an open house, and always, always be prepared to deal with the extra cranky buyer. It can be tough to deal with a rude customer, but keep your cool and remember that you are dealing with a new type of consumer.

Luxury isn’t ‘luxury’ without service:

Think about all the different industries that work within the luxury market. They may be hotels, stores, or luxury car companies, but they all have one similar goal that you may have noticed; they make providing excellent services their number one priority. You can’t lead a successful business without great services; they are what will bring you new customers and keep the faithful ones around for years to come. Customers in luxury real estate will expect services that can’t be found elsewhere.

Keep up to date:

Service is also represented in your personal knowledge. Know all the important facts about the luxury real estate and you’ll be one step ahead when the patrons finally arrive for any purchase. Nothing looks worse than a luxury real estate agent that can’t handle the facts of the purchase. Learn all about the property, location, surrounding area, and anything you can possibly get hold of. Buyers can afford to be choosey or picky about any aspect of the home they wish to be and it’s your job as the seller to keep par with them; never overlook or downplay the concerns of the buyer. Even if the issue seems small or trivial, answer the best you can and if you are unable to, do your best to find out all you can.