Is it time to launch a Luxury Homes program within your business?
Doing business in the upper end of the Real Estate market is a challenging but rewarding venture. Market times are longer, prospects are more costly to acquire and clients are often more demanding, but the commissions can make it more than worthwhile.
As prices continue to surge in many US markets, many agents, teams and franchises are deploying dedicated Luxury Home brands and programs in order to capitalize. These programs go above and beyond their standard offering, usually with highly desireable features like luxury and international advertising, premium marketing materials, top-of-the-line photography and video, home staging and more.
So can a distinctive Luxury Homes program within your business help you capture more high-end listings and lucrative commissions? Here are some advantages to consider:
1. Deliver More Value
Are your prospects interviewing multiple agents before making a decision? Affluent homeowners expect more for their money today than ever before. With a clear Luxury Home Marketing value proposition, you’ll take the lead over agents that are pitching a generic, midmarket offering, especially when you’re being compared head-to-head.
2. Appeal To Pride
High-wealth homeowners often feel their homes are special, and deserve a white-glove treatment. Features like prestigious luxury advertising and international exposure can be satisfying to your clients and help build the trust and goodwill you’ll need to get to a successful closing.
3. Protect Your Commissions
Having a premium level offering can help you justify top-dollar commissions with clients who are inclined to haggle (and there are plenty of them, even in the luxury space). You hold the chips, and can decide when to give a little and when to hold firm.
4. Look The Part
With a clear and distinctive Luxury Real Estate brand, you can tailor your message and value proposition much more precisely in order to make a positive impression on a high-wealth audience, without turning them off with the wrong signals.
5. For Brokers – Attract & Retain The Best
The top producers selling your area’s most valuable real estate will appreciate a turnkey Luxury program – it saves them time and hassle while enhancing their status among their key clientele.
Setting up a Luxury Homes program may not be the right solution for everyone, but for agents, teams, offices and franchises that want to stake a claim to this lucrative sector, the advantages are clear.
In our next article we’ll explore the essentials for getting started in the right direction with your own Luxury Home Marketing program, and ways to control costs while projecting an upmarket brand image.