Marketing Luxury Real Estate

Prior to joining Sociable Media Inc., I was fortunate enough to work as a Marketing and Communications intern with a local Real Estate Brokerage. As part of my job, I was tasked with developing an updated marketing strategy for selling agent Ethan Michaels, particularly for his luxury listings.

 

My goal was to figure out how to best attract a potential buyer in the most efficient way possible. After doing some market research and having some internal discussions with our team I realized that when it comes to selling luxury homes, the house will almost always sell itself. Therefore, if we can find a way to best encapsulate the property in its entirety and share that on a mass-scale, we will begin to see some traction. 

 

The Psychology Behind Digital Ads

 

I decided to conduct a paid-ads campaign on Facebook and Instagram, targeting the demographics that our market research showed would be most likely to purchase a house in excess of $2,000,000. With just $100, I was able to reach over 50,000 people across Eastern Canada and generate more than ten significant leads.

 

One may ask, “Why would you expand your target audience outside of the province let alone the city?” The answer is simple, if someone has the money to purchase a luxury home, they most likely have the freedom to relocate if they believe they found the house of their dreams (trust me, you would be shocked). 

 

It is for this reason that selling agents and analysts should continuously make note of the consumer trends in the current market climate. The more information one has on their prototypical buyer, the more efficient they can be when rolling out a digital-ad campaign. You want to ensure that the money you spend promoting your listing is being used to target those persons that are buying similar types of properties.

 

Say More With Video

 

Although we were seeing a significant increase in leads, I realized that just sharing real estate-style photographs was not enough to convey the true essence of our most luxurious listings. Thus, we decided to outsource for a local media production company to try and incorporate a video-style marketing campaign for one of our nicest homes.

 

This house was located on Purcells Cove Road, overlooking the ocean and built right up to the edge of the cliffs. As you can imagine, the scenery and view of the ocean is the real selling point and static images did not do it justice. The production team was able to create a breathtaking video of the property using a series of drone shots that were taken at sunrise. By using a video production, the marketing campaign became far more effective as I did not have to try and describe the essence of the property, the video did this for me. This led to a further increase in leads as well as an extremely happy client. Homeowners are proud of their space and your efforts in conveying this pride are noticed. Simply put, extravagant products require extravagant marketing strategies. 

 

All in all, I believe that Social Media Marketing in conjunction with quality media production is the future of real estate, especially the luxury housing market. With so many big-time selling agents in larger cities making the move to digital and social media advertising, it is only a matter of time before this is the new normal.


 

If you are in the real estate industry and are thinking about making a move to increase your digital marketing strategies, contact our team today to see how we can help.

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