When a home is priced in the multi-million or million-dollar price range, you must market to an unique niche audience — high net worth individuals, or HNWIs.
To the dismay of many, luxury has become the new go-to descriptive word in all things marketing making it very common place and uneffective in a true luxury market.
Here are a few tips along the way for marketing high-end homes that can help in marketing any luxury listing no matter it's demographic or price range.
1. Wording is key
A recent poll revealed that luxury clients said they no longer care for the word “luxury;” they rather like adjectives such as “prestigious” or other descriptive cues such as “estate” or “gated community.” So kick the luxury phrase altogether. No longer do high-end buyers ask to see luxury homes.
2. Print is a priority
Although the cloud, mobility and digital are a given, in addition to online exposure, print media is still appreciated and, believe it or not, expected when marketing high-end properties. Remember to choose publications wisely, and stay with those that share your targeted demographics and high-production standards. Bad advertising (as opposed to many who say all publicity is good publicity) is just that, bad advertising.
3. Tell Them Something They Don't Know
When considering copy for a luxury listing, focus on your target audience. Resist the temptation to generalize which diminishes its impact and appeal. Picture the buyers and emphasize those features of the property that reflect their lifestyle. Where do they shop or enjoy their morning coffee? Are schools an important consideration? How do they like to entertain? Is freeway or airport access essential? Imagine what they may be looking for and talk about that. Listing standard features such as granite countertops is a turn off. Realize, buyers today have already researched listings online and are familiar with the particular features of homes they are interested in.
4. Video marketing is not optional
Video is the new gold standard in visual marketing. Think about the popularity of YouTube and Instagram. Consider creating a video with high production standards to showcase the home’s unique features and selling points. Incorporating drone photography is also essential to seamlessly visualize the property, neighborhood and local lifestyle attractions such as beaches, parks and open spaces. It might even be viewed as a negative to some discerning buyers if not included.
For more information on marketing a luxury property in Portland, please contact our office at any time.