Real Estate Marketing
There is a period in your career, when you come across the most profitable, exciting and complicated market in real estate: the high end real estate market. This is not an ordinary market: you get special clients that pay more and of course they should get more as well. You deal with a different target market that is often more sophisticated than your first buyers and sellers that you have been dealing with.
It is recommended to follow these useful three tips to get involved into the high end market:
1. Realize luxury is about service.
Deliberate on the companies in the luxury market, if they are posh car companies, hotels or sellers: they all provide service of a high quality. Excellent service is one of the milestones of luxury. Bear in mind that your sellers will expect this and so will prospective customers as well.
It means that you should be prepared to go the extra mile, organizing extra private showings with short notice, implementing refreshments during open houses and dealing with selective buyers.
Services of a high quality means competence: you should know all the relative facts about your listing and the neighbourhood. For some high end buyers some things can seem extremely important while you may think them to be trivial. Think about the answers that you can give them to their questions, it does not matter if they are positive or negative.
2. Pace yourself (and your budget)
While high listings offer attractive commissions, the disadvantage of all that is that they always take a lot of time for selling, sometimes it is very long. You will have to spend extra money on high end marketing materials, but do not spend more than your budget allows you thinking that you can get it back in several weeks.
Be wise about it. Hire a professional photographer, you can even find one in your city with average price of his services of about $150 – $200 or less. You can save more money if you move your business online.
3. Do not be intimidating by other high end agents.
When you have got your first high end listing, you will conclude contract with a different range of real estate agents in your market: high end, luxury agents. A lot of these agents are wealthy and successful, but they can be intimidating. Do not let them, this should e your goal.
Bear in mind that everybody starts somewhere, and they were the same beginners as you are. To boost your confidence, make sure you know your listing, neighbourhood and the latest luxury market state. Remember, you should be competent and confident.
Finally, all high end listings are seemed to be very similar to all the other listings you have successfully sold in your practice. You should be focused on the main points: perfect communication and solid marketing.
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