Friday, March 17, 2006

Marketing Luxury Real Estate I
The Seattle Real Estate Blog V


Selling luxury homes involves a special set of challenges that are not present in other segments of the real estate market. The most beautiful and unique homes are only available to a select group of real estate buyers, which means that the pool of potential buyers is relatively small. Luxury homebuyers are more likely to come from abroad or from other parts of the country, which means that signage and other local marketing practices are less effective for luxury real estate. It’s also true that exclusive homes frequently contain valuable art, furnishings, fixtures and finishes, so access to the property for co-operating Realtors and potential buyers must be limited. These challenges can be met and overcome by a talented and experienced Agent.

One way to increase the pool of potential buyers is to promote luxury property listings throughout the country and around the world. This kills two birds with one stone; reaching people in other geographical areas increases the pool of potential buyers, and the luxury homebuyers from abroad or across the country have easy access to information about the exclusive home. Residence International is a print magazine and a website that lists exclusive luxury homes, and it features articles about international communities and real estate markets. This magazine also contains information regarding relocation and international moving services. Other exclusive venues for promoting luxury properties include The Wall Street Journal’s nationwide and international editions, Christie’s Great Estates, John L. Scott's Quality Street Magazine and websites with international viewers like JohnLScott.com and BraxtanRE.com.

The problem with limited physical access to the luxury property for potential buyers with luxury home tastes can be solved with special promotional events. These periodic events not only confine buyer-related traffic to specific hours, but they also create exclusive happenings that many Realtors, luxury homeowners and luxury homebuyers will enjoy attending. The luxury home events accomplish two significant goals: they not only confine physical traffic to scheduled times, but they also create a celebrity status for the home while it’s listed for sale. A dedicated professional Agent will facilitate and finance the events, and an added benefit is that the homeowners can take advantage of the events to sell any art or furnishings that they choose not to take to another home.

For more information about Luxury Real Estate Marketing or anything else related to real estate, please keep watching The Seattle Real Estate Blog or visit BraxtanRE.com. I appreciate comments and suggestions for new topics. Thank you for your time and attention.

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