Insights from the LPI 2019 Agent SUMMIT: Creating an Experience for the Affluent Buyer
During the 2019 Luxury Portfolio Agent SUMMIT, leaders from the LPI network discussed successful marketing tactics to promote listings and personalize experiences for their clients. Let’s take a look at some of the things they shared:
Matilde Sorensen of Dale Sorensen Real Estate in Vero Beach, Florida, discussed the importance of organization and being a personal concierge for her clients. Famed for her ongoing lists and 4 a.m. emails, Matilde said she goes above and beyond for her clients because that’s what they deserve.
Colleen Olson of Arizona Best Real Estate in Scottsdale, Arizona, echoes this sentiment and recommends that all agents should always have a “who” list of designers, contractors, organizers, stagers and even contacts like dentists, dry cleaners and salons. In one instance, Collen provided one of her clients with a personal organizer which was so well received that it led to 23 referrals. Providing personalized service during the homebuying process is essential because people sell their homes based on emotion. Olson recommends giving each client the “Ritz-Carlton Experience” and providing top tier recommendations for each stage of the process.
“Web appeal is the new curb appeal,” according to Mary Beth Thomas of Parks Realty in Nashville, Tennessee, making photography, video and other digital tools is essential when marketing a luxury home in today’s changing landscape.
Several agents in the concentration discussed how millennials are especially drawn to visual effects when considering a home purchase. Small adjustments like twilight photography, mood lighting and staging with dark or bold accents can make a listing stand out. Teaser and time-lapse videos are also eye catching for visually influenced buyers and provide a peek inside the “lifestyle” that they may experience after purchasing the home.
As we have seen in the Luxury Portfolio International® whitepaper, The Rise of the New Aristocracy, millennials are quickly becoming a driving force in the luxury real estate industry and agents are modifying their current marketing strategies to reach this growing demographic, however marketing to other generations is equally essential in today’s market. Because each generation has a unique set of needs and desires when purchasing a luxury home, agents should cast a wide net and set both short- and long-term objectives when attempting to reach Baby Boomers, Gen X and the Silent Generation (those 75 years and older).
In today’s market, agents must use visual tools such as social media, photography and video in conjunction with concierge service and recommendations from their personal networks to create a marketing strategy that transcends generations.
Take a look at the second entry in our conference concentration series for more information on innovation in the luxury real estate space.