Luxury home marketing isn’t the same as marketing a home close to the average selling price in your community. It’s a whole different ballgame and showing up without the right strategy makes it hard to land a luxury home listing.
If you want to target more luxury homeowners, you need the right marketing strategy. Home sellers looking to get $1 million or more for their home expect an expert. They want to hire someone with an excellent luxury home marketing plan.
Many real estate agents don’t know how to sell luxury homes. They might be great at selling an average priced home, but luxury homes just aren’t in their wheelhouse. Here are some of the tips you can use to create the best luxury home marketing plan on the market.
5 Tips for Marketing a Luxury Home
1. Everything Should Appear Expensive
When you market a luxury home, printing out flyers from your home printer won’t cut it. Everything needs to appear expensive. Use high-quality brochures, direct mail postcards, and other marketing materials.
If you try to go cheap on marketing materials, you’ll come off as an amateur. Good luxury real estate agents know you have to spend a little more to make printed marketing materials look amazing. Make sure this is a part of your luxury home marketing plan.
2. High-Quality Photos & Videos are a MUST
You might have a story of snapping a few pictures on your iPhone and selling a home a few days after listing. It might be a nice story, but if you try this strategy with a luxury home, you’ll have a disappointed, and likely very angry client.
Hire a professional real estate photographer to do an actual photo shoot for the home. You should also have a video tour created and even consider having extra videos taken for marketing purposes.
High-quality pictures and videos help to communicate how luxurious the home is. If you throw up basic pictures and take a video that looks amateur, luxury buyers won’t be impressed.
3. Show Off More Than Just the Property
With an average home, showing off the property is about all you need to do to find buyers. Luxury homes have to show off the property and lifestyle. There’s more to a luxury property than just a few walls and a roof.
The location and the lifestyle a luxury home offers are reasons why it’s considered to be a luxury home. It’s not just about the square footage, the number of bedrooms, or the acreage with the property.
When you put together a luxury home marketing plan, make sure it will highlight the prestigious location and the incredible lifestyle the property offers.
4. Professional Staging Just Makes Sense
Your luxury home marketing plan should include professional staging. You need to show off the best the luxury home has and staging will show the home in the best possible way.
Good staging is much like the transformations seen in romantic comedies where the unpopular girl becomes the most beautiful girl at the dance. With the right professional staging, you can take a nice luxury home and make it look like it belongs in a magazine.
5. You Must Nail the Price
If you don’t get the list price right, you’ll struggle to sell any home. However, it’s even more important with a luxury home. Make sure you know exactly how to price a luxury home or you could struggle to land any listings.
Inexperienced agents will attempt to price a luxury home based on price per square foot. This doesn’t work and luxury homes present more of a challenge to price them correctly.
It can be difficult to find comparable homes to use as a reference when pricing a luxury home. Coming up with the right list price is a bit of a science and takes some work.
However, it has to be included in your luxury home marketing plan. If you price a luxury home too high, it’s like a death sentence for the listing. Price it too low, and buyers will wonder what you’re hiding or what’s wrong with the property.
Make sure you get the price right. If you get this part of luxury home marketing correct, the rest does become a bit easier.
There are several things you want to consider when creating a luxury home marketing plan. While you should have a basic plan to use for all luxury homes, make sure you customize each plan to fit the luxury home and the client.
Basically, you’re creating a brand for the home. You have to make sure you are selling the home for all it has to offer including the lifestyle, the location, and the many amenities/features that make the home unique.
Armed with an excellent luxury home marketing plan, you can start selling more expensive homes. Get the price right and stress high-quality with all your marketing materials and strategies. If you do this right, you’ll go far with luxury home selling.