There are definite guidelines in marketing a luxury real estate home such as postcards, print ads (newspaper and magazines), on-line distribution, social media, events, public relations, and word of mouth. Just because your competition is doing it one way, does not mean you should copy their way of marketing because of their success.
It is of paramount importance to do an in depth market research to understand your target audience of buyers. Luxury homes and estates are usually unique and distinct properties, and each home deserves it own custom marketing.
Not long ago, we interviewed an agent who told us, that he did minimal online marketing. Early one morning as he was jogging through his target neighborhood, he noticed the local newspaper on every doorstep. At that point, he shifted a larger percentage of his marketing dollars to print ads, which yielded a significant return.
Sometimes to attract the right buyer to the property, a public relations campaign may be the right place to spend marketing dollars. At the end of May, Michael Jackson’s, Neverland Ranch in Los Olivos, (Santa Barbara’s wine country) came on the market for 100 million dollars.
The property is co-listed with two different real estate firms one in Los Angeles and the other in Santa Barbara County to reach a wider audience of buyers. Given Michael Jackson’s fame, this listing became national and international news both on line and in print. Postcard marketing makes no sense in this instance.
Don’t fall into the trap of just copying, think it through for yourself and be an original. Original marketing gets noticed copycat marketing gets dismissed.
Written by Ron & Alexandra Seigel-
ABOUT: Napa Consultants, International is the leader in brand strategy for the luxury real estate industry. They work exclusively with professionals who are passionate about gaining or sustaining market leadership. With an expertise in personal branding, company branding, luxury real estate website design and social media marketing they help their clients become the breakaway brand in their marketplace.