Tips on Marketing a Luxury Home

When thinking of luxury real estate you can expect to pay more than five hundred thousand dollars for a home. With the economic recession behind us, the market for luxury homes is booming once again. The market is now getting the benefit of the rising income levels of people along with their desire to own a lavish, grand residential space. It is just as easy to sell a luxury home as it is one that is affordable to those without a lavish income. The market will basically targets the individuals with high net worth that also has big cash reserves and is looking for high quality living and potential investment options. These luxury properties are usually found in an up-market locality where the residents can enjoy a lifestyle that is world-class and has ultra-modern amenities.

One thing to note is that the prices of a luxury home can be very volatile. At one time, they can be at their peak when the demand is at the highest point and then it can drop substantially where you have no buyers in the market for luxury real estate.

There are many different ways in which you can market a luxury home. One way that is very important is that you will need to advertise aggressively. You should use mediums of advertising like radio, the internet, newspapers, and television effectively to attract potential buyers. You can also use billboard and pamphlets as a means of advertising in order to draw the attention of potential buyers. In your advertisements, make sure that you highlight the specifications, layout of the home, the location, and the facilities to generate more curiosity.

You can also organize seminars and exhibitions where you can showcase the luxury properties that are available to the buyers. Ask the sales representatives to interact with them personally and be able to solve your buyer’s queries. Convince them how investing in the properties will be in the long term advantageous to them.

Make sure that you can assure your potential buyers that they will have legal clearance on the homes they are considering purchasing. No buyer wants to spend millions, or even hundreds of thousands of dollars on a luxury home only to find that there is some form of legal trouble related to the property.

You can also hire a brand ambassador, who could be a celebrity that works in some of your commercials that is helping to promote the luxury properties you are trying to find a potential buyer for. Make sure you promote the luxury home throughout the world as a potential buyer can come from anywhere.

Luxury Real Estate Marketing Essentials – A Chinese Luxury Brand is Born

As a luxury real estate marketing professional, it is important to understand how a luxury brand is born and how it is developed. Here is an example of the challenges in developing the first Chinese Luxury Jewelry brand, Qeelin.

The founder Dennis Chan knew that he could not launch Qeelin in China. The Chinese marketplace would perceive it as a local brand regardless of the quality of the product. He knew that the Chinese marketplace would accept the brand if it was successful in other countries.

The brand was launched at the Cannes Film Festival in 2004. Maggie Cheung, who won the Best Actress award, wore the jewelry. Because she was the first Asian actress to be given this honor, she received worldwide coverage. And, so did the jewelry!

The first sale was made in Paris. They chose Paris as the first point of sale because the world of jewelry in Paris demands the very best. That challenged the partners to strive for and to achieve their potential.

The Results:

“We are currently perceived as an international luxury brand originating from China, and we have a good portion of our clients who are mainland Chinese.”

Qeelin’s target market is women who love haute jewelry (highest quality) from luxury brands. They have a discerning eye and look for handmade pieces with special stones. They do not follow trends; they follow what they consider to be the best.

The style of the designs reflect Chan’s Chinese heritage. One of the standouts is the Qin Qin (kiss-kiss, in Mandarin) goldfish pendant with magnets embedded within the golden lips. Chan explains, “The design has the ability to surprise and give our customers a little bit of a thrill through the unexpected.”

As you launch and build your own personal brand as a luxury real estate marketing professional it is important to understand your target market, i.e., their demographics. It is also important to understand their psychological preferences-their psychographics. By offering the unexpected such as a remarkable closing gift, you too can surprise and thrill your clients and trigger word-of-mouth advertising.