Modify Your Approach to Luxury Clients
May 1, 2018
For those breaking into the luxury market, never underestimate high-end clients or how they are different from more traditional buyers. Better Homes and Gardens Real Estate recently featured some of the nuances of selling or buying luxury real estate on its blog, Clean Slate. Some of the tips included:
Take note of the details. “Luxury clients tend to be heavily detail-oriented,” the blog post notes. “Most of them have relationships with several REALTORS® so paying attention to their specific goals and wish lists is highly important.” Jot down notes from your conversations and present innovative strategies that prove results. The blog also recommends generating analyses and reports that clients can share with their partners, attorneys, accountants, and other advisers.
Don’t take a one-size-fits-all approach. Avoid using a boilerplate marketing approach for luxury clients. Automated responses and generic marketing campaigns aren’t enough to attract the high-end prospects. Develop a customized marketing plan based on their unique goals, and have a marketing team that consists of a photographer, videographer, SEO pro, and home stager.
Spotlight the features. Highlight the spacious living areas, LEED certification, and heated pool and sauna, and go into detail about the unique features of the property. “Tell a story about the property that piques interest,” the Clean Slate blog post notes. Also, instead of an open house, consider hosting an event like an exclusive party to show off the property.
Network. Network with people in luxury social circles, including lawyers, accountants, architects, engineers, and others who can swap mutual referrals. Also, network with other real estate professionals to raise the awareness about the property. “If difficulties arise, consider splitting the deal with another successful REALTOR® who can help close it,” the blog notes.
Source: “Five Facts Nobody Tells You About Luxury Real Estate Marketing,” Better Homes and Gardens Real Estate Clean Slate blog (April 24, 2018)
Updated: June 20, 2019