Selling real estate can be lucrative and is often the dream of many agents, but there are significant differences between selling this type of real estate and lower priced properties. There are techniques that are used that are simply not cost effective for lower priced properties. However, higher priced properties, not only take a different approach, but due to the competitive nature of selling high-end real estate, it needs to be done in order to achieve success.
The single biggest factor in marketing
All of the great ideas for selling expensive real estate involves reaching your potential customers, but with the understanding that your customers are to be found throughout the country and the world. This is much different than you are likely used to.
Attempting to sell a property locally means local advertising. Although it is true that you may, on occasion, sell to people moving from other parts of the country, those wanting to buy in your area will find you through a local real estate broker listing.
People with the means to purchase large value real estate are more limited in number and scattered throughout the world. Therefore, you need to go to them. Your first identify the best avenues to reach them through advertising, so they can find you when they want a particular property.
Because your prospective customers are spread out, you need to have materials that they can look at to determine if they have enough interest before they hop on an airplane to visit the property. Local customers can be taken to properties in the area by car, so at best, you need a photo and a brief description to show them in a catalog of current listings.
With expensive properties, you need to have videos that can be viewed over the Internet. Part of the video can be created by a camera for the interior of the home, but you can also use drone technology to give a customer perspective of the property as a whole and even the surrounding area.
Using virtual software
This is a tool that has been effective for luxury real estate marketing. The ability of a client to look at a property using a computer program creates a sense of being there, and because it is interactive, a client can often discover on their own, whether the property is what they are looking for. Of course, this type of software can also generate questions along with the excitement of finding a property they like.
However, this is exactly the state of mind you are looking for in a person looking to buy a property. Once their questions are answered, the next step will be a visit to the property, and because so much preparation work has gone into selling the property, often a client will have a high probability of wanting the make the purchase. At that point, it simply becomes a matter of price and financing.
If you are considering stepping into the world of high-end real estate selling, the marketing techniques listed above should give you an idea of what it takes to be successful. In addition, much of the marketing can be done for you. There are many marketing companies that provide services to create the videos that you need as well as website developers who can create a site that will display these materials to your prospective clients.