Tips On Marketing Luxury Homes

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Editor’s Note: Whether you have just landed a high-end listing, or want to persuade a seller that you know how to sell their luxury home, here’s what you need to know.

Tips On Marketing Luxury Homes

By Natalie Eisen, Staff Writer

Marketing a home may seem to some real estate agents to be a simple process – or, at least, one that is familiar. What exactly this strategy entails depends on the specific agent, but each has his or her own preference when it comes to advertising a home. When the selling price for the home jumps, though, many agents grow concerned that their methods for marketing may not work. Fortunately, several agents who often sell luxury homes are willing to weigh in on the subject.

“Selling a luxury home requires creating an image that engages buyers,” says Bryan Robertson, a Realtor from California. He recommends taking practical steps for preparing the home first: having the property inspected, fixing any minor damage, etc.  Robertson feels that it’s even more important for a luxury home to be immaculate than a smaller property. “The physical impression is critical,” he explains, “and even the smallest flaw will stand out in an otherwise gorgeous home.”

“With an expensive home, smaller details really need to be repaired,” says Jennifer Kirby, a real estate agent from Minnesota. “If they aren’t,” she continues, “a buyer could get so fixed on these small flaws that they forget to see the bigger picture…the home.”

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Takes Money to Make Money
Once the house is sparkling, luxury agents recommend taking an extra step on marketing. “The biggest thing to understand is that marketing a home in this category takes money,” says Kirby. She recommends hiring professional photographers to take pictures of the house and taking the time to write a persuasive description. “Once everything is available,” Kirby explains, “I sit down and create a luxury website for the home. This sets a seller’s home apart from all the other high-end listings and shows how this home is special.”

“Having the right story and visuals creates a ‘brand’, just like Mercedes or Burberry,” says Robertson. “The brand is the image conveyed by the home using photography and videography.  The home can be shown as impressive or understated, luxurious yet casual, and many other combinations.  The brand will then appeal to the appropriate buyer.” Branding is an aspect that could be seen as more important for a luxury home than any other home. The buyer for a luxury home likely has an image in mind, and Robertson’s branding technique can take advantage of that.

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Cultivating a brand is all about having a unique message, according to luxury agents. “Advertising is a form of communication. In the realm of luxury real estate marketing, it needs to be an art form as well,” says Ron and Alexandra Seigel, founders of The Language of Luxury, a blog specializing in marketing luxury homes.  “Look for a unique selling proposition. It is the unexpected that sells them,” the two advise.  Luxury homes are unique and have their own selling angles that a smaller home may not. A cookie-cutter ad, the Seigals say, simply will not do.

In the end, experts agree that luxury homes must be marketed in a way that makes them appear unique and desirable to buyers. In a market where homes vary wildly in size and aesthetic, advertising as if the home is the only one of its kind is a valuable strategy.  In some ways, marketing a luxury home can be a simple process after all.

 

 

We’re always listening: Send your story submission/idea to the Editor: dbrauner@orep.org.

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Comments (4)

  1. I have been in the business for 35 years. Mostly higher end housing for the past 15 of those years. I am curious, are there any sites to help with samples of marketing strategies and actual marketing plans for the high end homes?

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  2. I liked when you talked about how hiring professional photographers can help you have good pictures to sell your luxury house. It makes sense that understanding how to stage and prepare a property for viewings can help you sell it faster. I can see how anyone looking into this would want to take their time to find a reputable real estate agent to make sure they have a professional team helping with this process.

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  3. I agree with what Bryan says about creating an image that engages buyers. Whenever I go into a home, I want it to be move-in ready. If a realtor can help with any minor problems that make it easier to move in, they should. How often do realtors market and sell homes that are not ready for the market?

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