A unique luxury home poses special challenges for real estate practitioners. The utilization of conventional real estate marketing methods might have to be supplemented by aggressive and specialized sales strategies.
Imagine a stunning executive estate that has: 1. A canal and deep-water access to the rear of the home; 2. A dock and a 100-foot boat slip off its backyard; and 3. Unobstructed sunrise and sunset views.
That kind of home has a very limited market and, while promoting that property in local and national multiple listing services (what all agents routinely do) is a good start, much more might be required to reach the right buyer market.
All too often, marketing a unique home is a trial-and-error process. But it does not have to be. Here are some marketing methods that have been utilized by savvy real estate agents to sell unique homes:
Target the market. Finding the right buyer often means tapping into a specialized market. Use niche marketing, online community groups, electronic message boards, email discussion groups to connect with potential select buyers.
Use the web. Post the home listing on top real estate websites and target special interest web sites as well. Finding niche markets on the web is as easy as typing in keywords into a search engine that describe the unique property.
Price to sell. Not all agents know how to optimally price unique homes. Pricing a home is neither a science nor an art, it’s a combination of both. Knowledgeable agents have written documentation to support a recommended price range.
Marketing materials. Use professional photography, home staging, and compelling copy to showcase the property (floor plan, room descriptions, special features, selling points, amenities, facilities, and local area highlights as well).
Exclusive property website. An exclusive property website is a great selling tool to combine photographs, descriptions, virtual tours, and property details into a special site that promotes that property on the internet 24/7. These one-page sites may be easily syndicated to 200-plus online real estate search sites.
Top-selling real estate professionals will also use other avenues to create excitement to get exposure for a unique home. In addition to broker open houses, realtor home tours, and specialized newspaper and magazine advertising, they might send out emails to the more than one million real estate professional across the country to market their unique listings.
Larry Stoller is the broker-owner and Realtor with Real Estate Five of the Lowcountry. Larry@RealEstateFive.com, RealEstateFive.com, or DistinctiveHomesOfTheLowcountry.com