Traditionally, the marketing of real estate included putting a sign in front of the house and waiting for the right buyer to call. Notice I use the past tense here, because to successfully market and sell real estate in today’s climate, a much more detailed plan is needed. This is especially true when selling your luxury home, as the pool of potential buyers is smaller, so you need to instill a broad range of tactics to attract the right buyer.
At Concierge Auctions, we have a marketing team and sales staff devoted to our luxury real estate auctions. We create a custom outreach plan for each property and expose the auction through print, web, direct mail, eblasts and public relations to the target markets for potential buyers and our database of luxury buyers and agents worldwide.
Here are 5 things that every real estate agent should do in selling your luxury home:
1. Professional photography: The days of the old MLS books are gone. More than 90% of homebuyers start their search on the internet. The first impression that most buyers get of your luxury home is the photos. Has your agent hired a professional photographer? If they have not, you should insist.
2. Email marketing:Email is essential for a luxury real estate auction. Nowadays there are free programs like Constant Contact to get you started with an email campaign. Make sure your agent has a list of fellow agents that specialize in luxury properties that they can email. And make sure they have a pool of potential clients to email as well. Note that some MLS areas also allow agent members to distribute emails to all other registered agents. This can be a powerful tool, especially in large and niche markets.
3. Harness the web: 30% of buyers identify the property they purchase from an online search. At a minimum your luxury property should be featured on major real estate sites like Realtor.com, Zillow, and Trulia. For luxury properties also consider high-end specific sites (such as UniqueHomes.com) and interest-specific sites (such as LandReport.com) If the budget provides, ask your agent to create an original website dedicated to your property too. Use all other advertising media to lead interested buyers to your custom site.
4. Social media: Facebook, Twitter, Instagram… All of these social media outlets are free. And while it takes time and effort to gain a following, you can’t lose by putting your property on social media channels. Perhaps an agent or an admirer of your photos shares a post of your luxury home. With social media, you add the content and let others do the work. If you find a buyer through social media your ROI is immeasurable because its all free!
5. Media coverage: Concierge Auctions is a national real estate auction firm, so we have media contacts throughout the country, and we have been featured in major publications like the Wall Street Journal. But if you do not have national contacts and/or interest, get your house noticed in the local media. Does your local paper have a homes section? Or does the local news feature outstanding properties? Make sure your agent has pursued these possibilities. Buyers notice and trust third-party articles written by newspaper reporters more than they do non-permission based marketing such as paid advertising.
What else do you expect from an agent in selling your luxury home?
