Luxury property promotion: an overview of effective strategies
The premium real estate sector is forecast to reach USD 6.13 trillion by 2030. It has undergone many changes in recent years but continues to grow strongly despite the global crisis. Digital transformation and the emergence of new technological tools have played a vital role in promoting luxury properties to a new level.
Like other industries, the marketing strategy for premium real estate relies on an in-depth knowledge of the target group. In addition, it is crucial to take into account the specificities of the sector and the competition in the market, which requires constant improvement of the approaches.
Luxury property promotion strategies
Luxury property buyers are affluent people who know exactly what they want. They also require a certain level of service and a special approach. In this case, it is essential to use all digital expertise and innovation to engage the buyer.
Advertising in the premium real estate industry takes place through traditional marketing channels. However, many companies are going one step further by implementing other solutions. In addition, it is possible to modernise even a standard approach and thereby increase its effectiveness. Some examples of premium property promotion strategies:
1. One of the largest companies in Los Angeles, The Oppenheim, took part in a reality TV show on Netflix, greatly expanding its target audience. The company also brought in celebrities to create a sense of exclusivity among potential customers.
2. Use social media. It is best to be active on multiple platforms, such as Facebook, Instagram and LinkedIn. It is important to maintain regular pages and share photos and videos of properties. Some estate agents also use interactive events to increase subscriber engagement. They organise raffles, competitions and encourage people to share their feedback about working with the company.
3. Schematic plans. One of the characteristics of elite properties is the complexity of the layout. Schematic floor plans will help you better understand the structure of the property. Such a visualisation will allow you to outline possible changes in the location and area of rooms, thereby increasing the property’s attractiveness to a potential buyer.
Virtual tours perfectly complement a schematic plan when working with international clients. This allows the buyer to see all the features of the property without having to visit it physically. Another advantage of the plan is that it can highlight unique aspects of the architecture, such as the shape of entrance arches, the height and area of additional rooms, and the location of balconies and columns.
It is also important not to forget the traditional advertising tools that remain effective in the premium sector. These include thoughtful, customer-focused content marketing and personalised e-newsletters.