Real estate brokers that specializing in multimillion-dollar homes must have a keen appreciation for the specific needs of high net-worth clientele. If they don’t then they just can’t succeed.
Commissions are substantial on a luxury home sale, but so are the costs and demands of marketing high-end properties. Due to the small pool of prospective buyers, it typically takes well over a year to sell a premier luxury home even in a strong real estate market. These homes are often highly customized and with many special features. The special features one person has invested in many not have a big appeal to other people.
Most wealthy homeowners demand that their agent attend every showing – not only for security purposes but also because high-end homes often have extensive special features that need explanation. Also, owners of multi-million dollar homes often have significant knowledge of the real estate market and in advertising and marketing. They know what top-level service is and they expect it.
There are some new tools that are becoming standards for the showcasing to luxury properties. These may be used for any multi-million dollar property.
An Artist’s Sketch of the House - Drawings may appear crisper than photographs in newspaper ads.
A Glossy, Full-Color Brochure – This should have an extensive listing of the home’s special features.
Advertising in National Publications – It is essential to get the luxury property some exposure at the national or even international level.
A Dedicated Website – Websites can be expensive but they do not have to be. The website service at Luxury Home Marketing can register your domain name, set up a dedicated website and host it all in a neat and tidy package - and very affordable.
Online Presentations – Today it is easy and straight-forward to set up steaming media presentation with still images and to add voice narration. One of the easiest services is Presentations That Talk . They specialize in online voice-narrated presentations for real estate. The services of Presentations That Talk are also avalable at Luxury Home Marketing.
Online Printable Brochures – It is now very affordable to create and distribute an online brochure. The format of choice is the Portable Document Format (PDF) that was created by Adobe. The initial purchase of this software is a great investment or you can contract with an outside service that can provide you with PDF documents for distribution on the Internet.
Pay Per Click Programs with Google and Yahoo! - Once you have your marketing in place with a dedicated website, online presentations and PDF brochures you can then set up Google and Yahoo advertising programs. With a dedicated website the marketing and advertising can be specific and focused. This is a big advantage on the Internet. If you have targeted traffic then mostly interested visitors will be coming to the dedicated website.
These innovative marketing tools can be very expensive. Videos tend to cost over $1000, web sites can range from $500 to $10,000 and the pen-and-ink sketch ads can cost as much as $8,500 a week. Local print publications may charge as little as $50 for a classified line ad, to nearly $10,000 for a full-page magazine ad. Some sellers want a glossy brochure and full-color booklet, which start around $1,000 and run up to $10,000. These costs are frequently borne by the real estate agent.
It behoves a Real Estate Agent that specializes in high end or luxury real estate to know about these online tools and to have available the resources of an Internet Consultant.
The Internet is an increasingly important medium for luxury real estate professionals; the Web provides exposure to potential buyers anywhere in the world. The Internet also helps agents to market themselves by providing them an opportunity to list their qualifications for prospective clients.
The marketing techniques utilized by real estate agents who specialize in luxury real estate must be innovative and draw on cutting edge technology to appeal to both the wealthy buyers and sellers of multi-million dollar homes. The challenges in selling luxury real estate are great, and a broker must remain creative and determined in order to stay at the top of this highly competitive but lucrative market segment.
Gary Horsman, as an Internet Marketing Consultant has helped many realtor get more listings and has helped them sell their listings.
He has recently initiated a new dedicated website at http://www.luxury-home-marketing.com that has some useful and powerful Internet-Based tools for home showcasing.
Gary is an investor in real estate himself and enjoys working with Real Estate Agents. He understands the pressures and scheduling issues that realtors face every day and the services of Luxury Home Marketing are designed to accommodate the schedule is even the busiest Realtor.