May 21, 2021
Words for the Wealthy: How to Sell Luxury Real Estate
There is perhaps no real estate market more competitive than that of luxury properties. Consumers' ability to purchase a home is vastly less limited by budget, and their willingness to do so can be influenced by the quality of their very first interaction with a builder or community. Despite the increased pressure of these cases, the payoff in the luxury real estate industry is understandably higher.
The luxury market is also unique in the sense that there is a higher likelihood of repeat clients. While most home buyers would hope to not be in the market for another purchase for years, luxury purchasers often purchase multiple homes and have equally affluent acquaintances. For every investment you make into the luxury buyer's experience, you'll reap the benefits in the form of returning clients and word-of-mouth advertising.
Still, these VIP clients — though Very Important — don't have to be Very Intimidating! If you’re wondering how to sell luxury real estate, Milesbrand is here to offer our years of expertise to you with the right future residents.
Highlight the Modern
Luxury home buyers are being asked to pay top dollar, so they're going to expect the latest and greatest amenities. On your company's website, literature, and throughout home tours, you'll want to clearly convey the modern craft that has gone into the home's construction.
Although "vintage" can occasionally be exciting and valuable, it's more important to showcase everything that's "upgraded," "enhanced," and "state of the art."
Of course, these words on their own don't mean much — and can even border on cliché if you're not careful. Painting a truly luxurious portrait of a home requires artful storytelling. As you describe your real estate, focus on not just the what, but the why. After all, it's not the upgraded features that make a home luxurious, but instead the daily comfort and excitement those upgrades can bring to life.
Make it Luxurious
The luxury selling experience has to begin much earlier than your first in-person client meeting. Although digital touchpoints can often feel less personal, they're not a device to be overlooked.
These first online encounters will help to determine whether or not you'll ever earn that in-person contact. As homebuyers have hundreds of other marketers and homes competing for their attention, you'll need to pull out all the stops to keep them reading.
The right words can clue readers into the quality of your homes and entice them to keep exploring your offerings. As a builder, you're well aware of the quality homes you're selling — don't keep that secret to yourself!
The price of your home will reflect the fact that it is lavish, ornate, regal, and chic. Make sure that your website copy sends the same message.
Focus on Material Quality
The average home buyer may not be too interested in what, exactly, their home is made out of. Many of us simply want to know that our property is secure, cozy, and meets our family’s needs.
However, a luxury price tag requires more information to be shared with the buyer. After all, you wouldn't ask someone to buy a $500 toothbrush without disclosing that the toothbrush was crafted from solid gold!
Drawing attention to material quality will also highlight your company's knowledge and attention to detail. Knowing that a home was thoughtfully constructed with luxury and comfort in mind can help to justify the price that you're advertising.
As you showcase your high-end properties, keep in mind that it's not just a hardwood floor — it's mahogany wood. Luxury shoppers may be more interested in these small details that otherwise go overlooked, so this is the time to ensure your team's hard work, your quality construction, and all the attention to the important details are appreciated!
For luxury homeowners, a new purchase isn't just a shelter — it's a story waiting to unfold. For those who already own homes or are weighing many different options, they'll want to know exactly what makes your property special. To stand out among the competition and be memorable, evoking emotion is crucial.
Before embarking on marketing endeavors, it's wise to establish a tone for your homes and/or community. Are you hoping to convey comfort? Nostalgia? Privacy? When you make this determination, you can sprinkle language into your literature that aligns with the home's personal "brand." This foresight will also help establish consistency within your copy that lends credibility and increases brand recognition.
We know what you're thinking — luxury buyers are looking to tour homes and enjoy top amenities, not do a close literary analysis of your company's website. All of this focus on clean copy may seem like overkill, but in such a competitive market, it can make all the difference.
You can safely assume that many of your more affluent clients have worked in professional settings and achieved high levels of education. That means that they're used to reading content that is clear, succinct, and typo-free.
This doesn't mean that you need to whip out a thesaurus for every other word. The last thing you want to do is sacrifice clarity for perceived classiness. However, your correspondences and advertising materials always deserve a proofread. Beyond that, creating a strategic marketing plan that crosses multiple channels will help you create consistent and clean messaging that attracts and sticks with luxury buyers.
Remember, you're asking luxury homebuyers to make a significant investment in your property. With such a large ask, the "luxury" experience should start from the very first touchpoint. Crafting eloquent and easy-to-navigate copy shows that you respect your reader and their time. The quality of your writing will also help inform your audience's perception of a home's quality, whether they realize it or not.
At Milesbrand, we have the immense privilege of teaming up with talented home builders, developers, and marketers to sell beautiful homes. For years, we've run award-winning campaigns that connect businesses with the buyers they need. Start a partnership today to ensure that your luxury homes are meaningfully connecting with the right audiences.