high-end real estate https://quantumdigital.com/ en Luxury Real Estate Marketing https://quantumdigital.com/luxury-real-estate-marketing <div data-history-node-id="476" class="node node--type-blog-post node--view-mode-rss ds-1col clearfix"> <div class="field field--name-node-title field--type-ds field--label-inline"> <div class="field--label">Title</div> <div class="field--item"><h1> Luxury Real Estate Marketing </h1> </div> </div> <div class="field field--name-field-preview-image field--type-image field--label-inline"> <div class="field--label">Preview Image</div> <div class="field--item"> <a href="https://quantumdigital.com/luxury-real-estate-marketing" hreflang="und"><img loading="eager" src="https://quantumdigital.com/sites/default/files/styles/header/public/luxury%20real%20estate%20marketing_0.png?itok=d-STsD98" width="1200" height="450" alt="infinity pool at a luxury real estate property" typeof="foaf:Image" class="img-responsive" /></a> </div> </div> <div class="field field--name-node-post-date field--type-ds field--label-inline"> <div class="field--label">Post date</div> <div class="field--item">Oct 16, 2017</div> </div> 4 <div class="field field--name-field-blog-category-new field--type-entity-reference field--label-hidden field--items"> <div class="field--item">Marketing Ideas</div> <div class="field--item">Real Estate</div> </div> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p>Real estate marketing agents who currently work with <a href="https://quantumdigital.com/blog/3-best-ways-market-luxury-real-estate">luxury listings</a> or want to start specializing in this area know that it exists in a league of its own. Globally, high net worth individuals (HNWIs) are forecasted to <a href="https://www.worldwealthreport.com/BigTechs-Cast-Long-Shadow-in-Wealth-Management">triple in wealth from 2015-2025</a>, which means these individuals will have more financial power than ever before and will have unique needs and expectations when selling a home. Agents that want to effectively gain leads for luxury housing must practice a combination of skills and relationship nurturing that begins with understanding the mindset of HNWIs.</p> <p><strong>The First Step: Be a Great Agent</strong></p> <p>Perhaps more important than proving an agent can sell a home is proving that the agent is trustworthy and honest. In financial advising, it’s been shown that HNWIs value these two qualities <a href="http://www.marketwatch.com/story/these-tips-can-help-advisers-attract-and-keep-high-net-worth-clients-2017-07-21">MORE than past investment performance or credentials</a>. The right qualifications and results are still important, but they aren’t enough in and of themselves.</p> <p>In practice, this looks like something called “trust heuristics,” according to MarketWatch. HNWIs have less time and resources to carefully monitor whom they’ve hired, so they assume that category leaders are the best while also taking into account the recommendations of their family and peers. Because of this, HNWIs trust their advisors more than the average client does and expect more from the relationship. We know that this level of trust exists between a HNWI and their real estate agent, too.</p> <p> </p> <p><strong>How to Build Trust</strong></p> <p>Because HNWIs have higher expectations of their agent than the average client, they anticipate that the selling process will happen with the least amount of stress possible. According to Rebecca Li-Huang, a wealth advisor at HSBC, who wrote a chapter on HNWIs in the 2017 book <a href="https://global.oup.com/academic/product/financial-behavior-9780190269999?cc=us&lang=en&">Financial Behavior: Players, Services, Products, and Markets</a>, these individuals practice “emotional inoculation,” which is the outsourcing of investment decisions that induce anxiety.</p> <p>To aid in decision making, agents that work with HNWIs should be competent in multiple disciplines that pertain to the market, like finance and technology. Additionally, it’s pertinent for luxury real estate agents to know the neighborhood and community like the back of their hand. The agent should be the local expert on the schools, restaurants and businesses in the area. Luxury real estate agents also have a keen knowledge of the demographics of the community, local organizations, and general resident sentiments and lifestyles.</p> <p>Luxury agents should also practice quick turnaround on communications and a high level of attention to detail and efficiency. No matter the size of your brokerage team, it should be clear that the agent has sold luxury houses before and is good at what he or she does. This, along with great past relationships with clients, will help build a HNWI’s trust.</p> <p> </p> <p><strong>Real Estate Marketing to High-End Clients</strong></p> <p>Building a great reputation by being a great agent is a crucial step in attracting HNWIs, but marketing is equally important. A reputable, honest, and knowledgeable agent would get lost in the mix without great outward communications to back himself or herself up. HNWIs may find an agent through a friend or credentials, but it’s crucial that the agent is able to quickly prove that they know how to sell a property.</p> <p>In luxury real estate, marketing materials will be particularly important. Outward marketing is the way that realtors will compare agents against one another, and the agent hoping to attract a HNWIs must prove their worth both online and offline.</p> <p>We recommend high-end video as a great way to represent the homes of HNWIs on websites and social media. A comprehensive, beautifully-shot video works well for any property, but luxury homes are particularly suited for this medium. Investing in a high-quality virtual tour of both the inside and outside of luxury properties will show HNWIs that you have the expertise and capability to represent a high-end client.</p> <p>Just as with online marketing, an agent’s offline real estate marketing strategy is representative of the way they will sell a luxury home. The agent should have a complete suite of printed collateral that includes images of previous homes sold, how they were marketed, and how they were priced.</p> <p>An agent must prove that they can correctly price a luxury home so that it, in fact, sells. It’s one of the most important skills that a realtor working with high-end clients can possess. Pricing the home too high will ensure that no one purchases, but pricing it too low will devalue the worth of the property.</p> <p>Accurate pricing will depend on location, comparable sales data, and the agent’s inside knowledge of the neighborhood. It’s true that pricing luxury homes is more difficult. There are less comparable homes and, often, unique features often found in these properties are only valuable to certain buyers. Although it’s a skill that often takes years to master, the agent that can prove they know how to accurately price a property from day one will differentiate himself or herself from other agents.</p> <p> </p> <p><strong>A Combination</strong></p> <p>The real estate agent that understands how to build a relationship of trust and honesty with clients and also represents their agency well both online and offline will go a long way in reaching HNWIs. High-end clients, once satisfied with results, are very <a href="http://www.equifax.com/pdfs/corp/EFS-814-ADV_StrategiesforEffectivelyMarketing_0.pdf">loyal</a> and likely to recommend a trusted agent to their other HNWI friends, as well as entrust the sale of future homes to the agent’s care.</p> </div> <span class="a2a_kit a2a_kit_size_32 addtoany_list" data-a2a-url="https://quantumdigital.com/luxury-real-estate-marketing" data-a2a-title="Luxury Real Estate Marketing"><span>Share to:</span><a class="a2a_button_facebook"><i class="fa fa-facebook icon-faceook"></i></a><a class="a2a_button_twitter"><i class="fa fa-twitter"></i></a><a class="a2a_button_linkedin"><i class="fa fa-linkedin"></i></a></span> </div> Mon, 16 Oct 2017 18:53:05 +0000 brianna_mckinney 476 at https://quantumdigital.com Real Estate Marketing Strategies: Selling Luxury Property https://quantumdigital.com/blog/3-things-you-should-consider-when-marketing-luxury-property <div data-history-node-id="282" class="node node--type-blog-post node--view-mode-rss ds-1col clearfix"> <div class="field field--name-node-title field--type-ds field--label-inline"> <div class="field--label">Title</div> <div class="field--item"><h1> Real Estate Marketing Strategies: Selling Luxury Property </h1> </div> </div> <div class="field field--name-field-preview-image field--type-image field--label-inline"> <div class="field--label">Preview Image</div> <div class="field--item"> <a href="https://quantumdigital.com/blog/3-things-you-should-consider-when-marketing-luxury-property" hreflang="und"><img loading="eager" src="https://quantumdigital.com/sites/default/files/styles/header/public/Real%20Estate%20Marketing%20Strategies%20Selling%20Luxury%20Property.jpg?itok=7NnrHn0Y" width="1200" height="450" alt="House for sale" typeof="foaf:Image" class="img-responsive" /></a> </div> </div> <div class="field field--name-node-post-date field--type-ds field--label-inline"> <div class="field--label">Post date</div> <div class="field--item">Mar 26, 2015</div> </div> 3 <div class="field field--name-field-blog-category-new field--type-entity-reference field--label-hidden field--items"> <div class="field--item">Marketing Ideas</div> <div class="field--item">Real Estate</div> </div> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p>When you buy a luxury product, it’s not just the product itself that’s higher quality than its lower-priced competitors, but the packaging, the store that you purchase it from, and the experience itself.</p> <p>While the fundamental aspect of marketing a luxury product are the same as those involved in marketing an average product, everything from the retail store itself to the paper used in marketing materials is of a distinctly higher level of quality.</p> <p>This reality is the same in real estate. When you’re marketing a luxury home, your marketing materials –from real estate postcards to photography – needs to be of a higher standard than what you’d use to market a regular home.</p> <p>Use low quality marketing materials and your target audience will believe the home you’re selling isn’t high quality, no matter how luxurious it might look in the images you use to promote it.</p> <p>Here are three factors that you should keep in mind when designing and printing real estate direct mail pieces and other marketing materials for luxury properties.</p> <p> </p> <p><strong>Hire a professional photographer to take fantastic photos</strong></p> <p>There are two ways to market a home: as a commodity, where the exact number of bedrooms and square footage of the home are the biggest factors in determining its value, and as a luxury home, where the experience the home offers is more valuable.</p> <p>Because of this, it’s important that your marketing reflects the experience of living inside the home you’re marketing. Photos from your smartphone might look good enough to display a home, but they don’t deliver the experience of living there.</p> <p>Hire a professional photographer to photograph the luxury home you’re marketing so that prospects don’t just see the home, but understand the type of experience it has to offer.</p> <p> </p> <p><strong>Consider using panoramic postcards to market a large property</strong></p> <p>When you’re marketing a compact apartment or small home, you usually don’t need much space to capture the home’s character. When you’re marketing a large home, it helps to have some more space to show off its land or numerous impressive rooms.</p> <p>If you’re marketing a large property that needs more than the typical three to four photographs, consider using a larger postcard size – for example, jumbo real estate marketing postcards – so that you can include bigger, more detailed photographs.</p> <p>Properties with a lot of land or panoramic views usually need a wider paper size to look their best. Use a panoramic postcard size if you’re marketing a property with a great view or large yard that you think could be a major selling point.</p> <p> </p> <p><strong>Use a heavier paper stock instead of thin, inexpensive paper</strong></p> <p>There’s more to marketing a luxury property than just the visuals. The paper stock you use for your direct mail postcards, brochures and other marketing materials is just as important in projecting a luxurious image as the photos you include.</p> <p>High-ticket items such as luxury property have a different sales cycle to inexpensive commodities. Instead of targeting a wide audience as part of a short sales cycle, you need to target a smaller, more defined audience as part of a longer sales cycle.</p> <p>Because of this, it’s far more effective to spend more on each individual postcard or brochure and target a smaller audience. A heavier paper stock might cost more, but it allows you to deliver a much more effective message to your target audience.</p> <p>First impressions matter, especially when marketing a luxury property. Invest in a heavier paper stock and your real estate postcards will have a far greater effect on the audience you’re marketing each property to.</p> <p>Learn more about your paperstock options <a href="https://quantumdigital.com/real-estate-direct-mail-paper-options" target="_blank">here</a>.</p> </div> <span class="a2a_kit a2a_kit_size_32 addtoany_list" data-a2a-url="https://quantumdigital.com/blog/3-things-you-should-consider-when-marketing-luxury-property" data-a2a-title="Real Estate Marketing Strategies: Selling Luxury Property"><span>Share to:</span><a class="a2a_button_facebook"><i class="fa fa-facebook icon-faceook"></i></a><a class="a2a_button_twitter"><i class="fa fa-twitter"></i></a><a class="a2a_button_linkedin"><i class="fa fa-linkedin"></i></a></span> </div> Fri, 27 Mar 2015 00:00:00 +0000 brianna_mckinney 282 at https://quantumdigital.com