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Real Estate Marketing Strategies for Selling a Luxury Home

Real Estate Marketing Strategies for Selling a Luxury Home

Selling a luxury property needs a unique marketing approach to selling a regular house. Part of the selling process is branding your listings as a high-end property which is above the ordinary. Highlighting the unique features of the property to attract the right buyer is your first priority.  

Here are some guiding principles when marketing a luxury property:

Since you are selling a luxury property, it is important that you know it even to its smallest details. You need to make sure it looks at its absolute best in photos and videos. Staging the house properly, including making the lawn look immaculate, is essential. You want to create an impression to the buyers that your property is the best choice for their investment. 

  1. Use digital photos and videos

Describing the house to the client is not enough. People want to see how the property looks like right away. And they don’t like seeing blurry images and garbled videos. Photos and videos of low quality destroy your image and the property you are selling. Don’t scrimp when marketing a luxurious property. Make sure you use the best digital marketing tools since the competition happens mostly in an online environment. 

  1. Understand your market

You are catering to less than 10% of the entire US.  Let’s say you are marketing a Washington DC luxury real estate, your target market are the millionaires anywhere in the country who, without a doubt, can afford to finance the house. In addition, understand what your clients are looking for. Put yourself into their shoes and try to see what will make you buy an expensive property. Tap into the needs and wants of your clients when promoting your listing. 

  1. Put the right price tag on your property

Your property must not be overpriced or under-priced. Both create a problem for you and the buyer. If the property is priced higher than it should, people will skip on the listing because they simply can’t afford it. It will stay in the MLS service for a long time. If it is priced lower than its actual value, you will be at the losing end. 

  1. Find the right agent

An effective and trust-worthy agent is very helpful in hunting for the right buyer. Choose an agent who specializes in selling a luxury property and an expert on the neighborhood where the house is located at. He must have the right skills necessary to accomplish all the required transactions in the whole buying and selling process.  Look for an agent who is affiliated with the association of luxury realtors in your area. 

Why Real Estate Agents Fail to Sell

Why Real Estate Agents Fail to Sell

Despite major news outlet saying that the real estate market is “hot”, why are some agent’s listings are still not sold yet? There are two main reasons why this is the case- price and marketing. 

Incorrect pricing doesn’t always mean that the property is priced too high. In rare cases, the houses can price too low as well. When it is priced that way, most buyers will suspect that there is something wrong with the home and will simply not look at it. Do not sell the house at a lower price than its actual market value. People might be suspicious that the house is hunted that’s why the owners want to sell it right away for any price, no joke intended. 

The house can be priced too high if it’s price way above its comparables in the community in terms of size, age, location, and architecture.  For instance, the house that you are selling is marked $300,000 but some parts need an upgrade for another $40,000 cost. Obviously, the house in the same neighborhood that is updated and needs no improvement for the same price will sell faster. Likewise, a house in 2000 square foot lot should not be priced the same as 2200 square foot right next to it, even if all else being equal. 

Another big reason why an agent fails to sell is an ineffective marketing strategy.  He may not be taking advantage of the full potential of multiple listing services (MLS) is his area or he is not putting a signage in the front yard. He may be targeting the wrong market, say creating a cheaply produced video for a luxury property. That will not just work. 

If an agent is not a member of his area’s MLS, he cannot post his listings on different websites. Therefore, he loses his chance to build an online community which is one of the most effective marketing strategies being used today.  MLS can provide his listing feeds to major real estate websites, such as Realtor.com, Zillow, and Trulia. Imagine how many potential client views he missed if he didn’t put his listing on MLS? 

It looks like a no-brainer but for some reasons, agents failed to answer phone calls or online inquiries. They leave the clients hanging without any effort to get back to them after receiving their messages. Or worst, an agent would leave messages saying “Show only on MTF 1:00-3:00 PM”.  It just doesn’t make sense. If he wants to sell, he will make himself available to answer inquiries and entertain guests as much as he can, even if it means extending his working hours and answering calls and emails even on weekends. 

Leading Real Estate Agent in Las Vegas

Leading Real Estate Agent in Las Vegas

 

Looking for real estate in Las Vegas can be a daunting experience. We’ve compiled a list of Las Vegas real estate experts all are leading in their field, given their years of experience and skills.

Ivan Sher (Shapiro and Sher)

Shapiro and Sher have become the symbol of top-notch expertise, integrity, and honesty in the luxury real estate. The secret of their success is their passion for helping other people find their dream homes.

With more than 21 years of experience in the business, Ivan Sher has made his name synonymous with outstanding service. He spends most of his time dealing with high-end homes, luxury high-rise properties and is the leading expert for Las Vegas luxury real estate. In recent years, he represents either the seller or the buyer in some of the most expensive real estate transactions in the city.

After merging with another force in the industry, Florence Shapiro, for the last 12 years, Shapiro and Sher group has earned the notoriety of being the best in real estate. Together, they accumulated a total sale of more than 2 billion, enough to land them second in Berkshire Hathaway in 2015.

 

Ileana Galindo

A member of Signature Real Estate Group, she has been in the industry for 27 years.  Purchasing and selling a home is her greatest passion in life. She has this ability to make her peers comfortable around her. She treats her customers like family and she strives to make the negotiation process as easy as possible. She focuses on building connections based on trust, respect, and professionalism.

 

 

Joanne Piette

She is a realtor for the past 22 years and regarded as one of Las Vegas’ Top 25 Women in Real Estate in 2014, 2015, 2016. She is also a recipient of Silver State Award for Best Real Estate Agent 2013. She is an authorized realtor since 1995 in Nevada. She helps buyers find their dream homes, regardless of whether it’s their first time or they are already an experienced buyer. She can help you discover townhouses, a townhome or a single-family home, depending on the size you want and your budget. She is a Certified Distressed Property Expert (CDPE), an affiliate of the National Association of Realtors and a certified Short Sale and Foreclosure (SFR) Agent.

 

Luxe 1539

Of course, no list would be complete without mentioning Luxe 1539. We are the Las Vegas experts when it comes to apartment and townhouses in this city! Every agency has their niche and we have certainly found ours.

Whether you’re looking at a gated apartment complex or a high-rise condo, or perhaps a quaint town house – we have got you covered!  Luxe 1539 is here to help!

 

Most Beautiful Condominiums in Las Vegas

Most Beautiful Condominiums in Las Vegas

For most travelers, condo buildings are not that attractive compared to hotels and houses or even to villas fronting an ocean. When people book their reservations where to stay, they would always look for inns, hotels, or bed and breakfast houses rather than condos. Some condos in Las Vegas are on another level. They can even compete to some of the best luxury hotels in the city. Some condo buildings have their own amenities and recreational facilities like restaurants, clubs, lobbies, or a VIP access to pool areas, spas, and gym. Imagine living in a Las Vegas luxurious condominium that mirrored a luxury hotel in its amenities?

Here are some of the most beautiful condos in Las Vegas:

One QueensRidge

One QueensRidge reflect a more traditional and timeless theme. However, the residence is being tailored towards the individual style of their guests. The floor plans range in size from 2,000 to over 15,000 square feet. This particular residence opens from the elevator straight to your front door. Because the towers were elevated high above the city, it can offer phenomenal strip golf and mountain views. Its sister property- Tivoli Village, offers shopping, dining, and entertainment all within walking distance.

Panorama Condo

Each condo’s floor plans range from 1000 to 2000 square feet. Nearly every unit features spectacular views of the Las Vegas Strip while some offer beautiful Western sunsets over the spring mountain range. Their homeowners’ association dues are among the lowest in the Las Vegas Valley and include most of the utilities including high-speed Internet service and satellite television. As you enter through the 8-foot solid wood entry door, you will immediately be impressed with a high-quality fit and finish of the condos. The open floor plans combined with dramatic floor-to-ceiling windows in many of the living areas from the most spectacular views in the city and make for an excellent entertaining area.

Turnberry Towers

On each floor, there are only four floor plans. Each unit has one-bedroom with a great size. It has a very open floor plan walk-in closet. It has a beautiful kitchen area and it does have a balcony. The units are located at the center of the building which people don’t realize because of how they actually split the building. The residence gives you a north and a south view. There’s a lot of natural daylight which again people don’t really consider when they’re living high-rise. Here, you will not end up getting that shoebox feel.

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