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from Sarasota and Naples, Florida, to Hilton Head, South Carolina; Southampton, New York; Austin, Texas; Prescott, Arizona; San Luis Obispo, California; And in many other cities, the luxury real estate market is booming. Picture-perfect sunsets, white sandy beaches, and the allure of expansive spaces attract high-end market buyers, including super-rich Generation X, baby boomers looking for second and third homes, and millennials with cash to spend.
Here’s how to increase your market share at this end of the real estate market and add more clients to your real estate business.
1. Determine the ideal customer
Just like with any marketing strategy, you need to know who you want to target. The first step in the process is to define the general characteristics of the group. While it is important to address the unique personality of each individual, a good deal with group traits will help define your marketing strategy. This includes the media (brochures, advertisements, videos, events, offers, social media, etc.) that you use to reach your target audience, the images you use, and the language and language of your content.
2. Make a list of the type of clients you want to work with
The luxury real estate market constitutes a wide range of wealthy clients. This includes technology entrepreneurs from both established and emerging companies, individuals in the entertainment industry and C Suite executives in the financial sector, as well as sports and other personalities. Decide if there is a specific niche you want to target, such as first-time or experienced buyers, international buyers, or environmentally conscious individuals, for example. Consider other factors such as the price range of the homes and the type of homes (discreet vs. luxury) that fit your buyer profile. Knowing this will help you how to go about connecting with and marketing to the people you want to work with.
Related: 8 types of customers and how to deal with them
Ask your team (or hire an assistant) to help you target your marketing and ads to people with behaviors and interests that match the types of customers who can afford the premium properties you represent in specific locations.
3. Building a circle of influence
Develop Contacts and generate leads from the network of people you know, including family members, friends, neighbors, colleagues, business partners, classmates, and social connections. Connect and build relationships with family offices and consulting firms that manage the wealth of high net worth clients. Wealthy people invest in real estate and can become potential clients in the future. Get to know everyone in your sphere of influence and keep in touch with him or her on a regular basis.
Additionally, connect with other real estate agents who can help you connect with buyers and sellers.
Related: 6 ways to build solid working relationships on LinkedIn
4. Build a steady local presence in your newspaper
Although this may sound old school, a constant presence in your local newspaper prominently displays your business name and listings for ads. Spend the money to place a listing on a full-color, full-page, or double-page ad on a regular basis so you can make sure people see it when they flip through the paper. Not only will this help you attract buyers willing to view the listing, but your continued presence on the paper will enhance your expertise and credibility in the marketplace.
Additionally, reach out to cutting-edge local publications (print and digital) to differentiate your business. Present your real estate expertise and write useful articles for buyers and sellers.
5. Use your digital fingerprint
Perform an audit of your website. Has the site design been updated recently, or have you simply added new listings? If you haven’t updated your site in the past two years, now is the time to do so. Hire a professional to create a beautiful, contemporary, sophisticated UX-based website that reflects who you are, your experience, your successes (eg show properties that were previously sold), your employees, and the locations and properties you currently represent.
Make sure the website also shines on mobile devices because everyone is connected to their phones 24/7. Hire a content writer to tell your story convincingly. Include videos, press announcements, and features. Let your customers sing your praises through testimonials.
Ensure that the property search tool on the website is broken down by product (location, pricing, square footage and other filters), is easy to use and delivers expected results.
Write a blog on relevant topics of interest to high net worth clients. Leverage social media to build your followers, influence, and market your assets. Assign someone to constantly update and update your website, blog, and social media platforms.
Focus on growing your email list. It’s faster and easier to reach and connect with people or advertise a new property via email. Overseas clients, partners, developers and luxury real estate agents can click a link in the email to view the property on your website or via a digital storybook you’ve created.