Home Selling 101: How to Effectively Market a Luxury Property
Working in New York’s luxury property market is exciting business. There is never a dull moment and that’s what we love about it. We also get the opportunity to work with some really interesting and influential people from all over the world who are buying and selling real estate in Manhattan.
With such high-profile clients and properties, some unique challenges are also presented. One of those is how to effectively market luxury homes in the city. How do we connect New York real estate buyers and sellers?
Though we’re including this topic as part of our ongoing Home Selling 101 blog series, this really is a much more advanced subject that we take very seriously. Marketing our luxury listings is a huge part of our jobs as Manhattan real estate brokers, putting a luxury property on the market requires expert preparation and planning for the most effective results.
First, it doesn’t hurt to have a strong reputation in the market. We’ve closed more than $2 billion in New York real estate sales and bring over 25 years of experience as a team. Speaking of our team, we are surrounded by some of the best and brightest real estate specialists who help us and our clients every single day. Last but not least, we are backed by the incredible reputation and resources of Douglas Elliman, which is New York’s top real estate brokerage and the third largest in the United States. In fact, we were recently ranked among the Top 20 agents in the entire Douglas Elliman family of brokerages (Top 2% company-wide). We’re able to do what we do because we have such an amazing support system behind us.
We break our luxury property marketing plan down into four phases:
Before your property even goes on the market, a lot of important pieces need to be in place. You should never rush a luxury home sale if you don’t have to. Take the time to do it right. The first step is preparing a full marketing plan and budget for the listing. Then, the property itself needs to be prepared for showcasing. If repairs or upgrades are needed, get them done. As part of our service, we will sometimes recommend bringing in a professional stager for consultation. If the property needs to be staged for a better marketing presentation, that will happen before any photos are taken.
Next comes the creative development for the marketing pieces. The property is photographed professionally to be featured in print materials (brochures, direct mail, advertisements, etc.) and for digital distribution. The listing is added to all the appropriate online listing services and an email campaign is prepared.
2. Targeted Outreach
This is where having a good reputation and large sphere of influence really make a difference. We spread the word through our clients, broker network, social influencers and press contacts. The goal is to make sure people “in the know” will know about your property listing and spread the word even further.
3. Buzz Creation
The targeted outreach will create a lot of buzz in the market before the marketing campaign even goes into full effect. It’s at this time the property is launched along with the comprehensive email, social media, print marketing and PR campaigns. Some high-profile listings may even be featured in blog articles. This generates maximum exposure for the listing and keeps the home showcased in its best possible light thanks to the pre-launch steps listed above.
4. Full-Court Press
The final phase is what we like to call our “full-court press.” We continually ramp up the activities in phases 2 and 3. Our aim is to saturate all possible marketing channels with content and information about your property. This includes being featured on Elliman.com and tapping into their worldwide network of brokers, search engine optimization, advertising resources, social media presence and more. There is no stone left unturned.
When you put all this together, you get a comprehensive and powerful marketing campaign where every single detail is analyzed carefully and executed meticulously. The pre-launch phase ensures the property will present in its best light and then the following stages of marketing and outreach ensure that the most possible potential buyers will see the listing.
To learn more about our approach to luxury real estate marketing or to ask us any questions that you have, feel free to contact us at anytime. We’re here to help!
Tom Postilio and Mickey Conlon are leading real estate brokers with Douglas Elliman Real Estate. If you are selling a luxury home in New York, contact Tom & Mickey today for a no-obligation listing consultation