Improve Your Targeting Strategies in Luxury Real Estate with David Collins

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Setting Yourself Up for Success in Spring:

Do you know what one of the biggest concerns of sellers is these days? It’s not being able to get above listing price for their own home — it’s being able to find a new home once their home sells. To help curb this very valid concern, luxury real estate professionals need to get the process started as early as possible for their sellers. Rather than wait for your sellers to officially declare their intentions to sell, it’s important to anticipate those intentions and start their luxury home selling/buying journey sooner rather than later to help set yourself up for a successful partnership.

The key here is being able to create confidence in your sellers. You need to convince them that they will be able to find a new home despite perceived inventory issues, and you can help ensure this by strategically targeting potential home sellers in the markets your clients are most interested in purchasing a home in. Rather than simply wait for new inventory to become available, be proactive in bringing the desired inventory to your client. While most homeowners might not be very receptive to immediately selling their homes, chances are still good that you’ll potentially be able to find at least one homeowner who has been strongly considering selling their home (and just hasn’t started the process yet).

Creative Targeting and Effective Agent-to-Agent Marketing:

Remember, not all home sellers necessarily want to stay in the same geographic area after they’ve sold their home, especially in today’s market. That’s why it’s so important to form strategic partnerships with real estate professionals in desirable markets your home seller may want to purchase a home in. Use the MLS to target real estate professionals in hot markets to potentially reach an even larger pool of potential buyers who might be interested in working with you. Not only does it create an opportunity for you to provide your client with an excellent experience they can tell their own sphere of influence about, but it also creates future referral opportunities from sellers interested in purchasing a home in your area.

Another creative way to potentially secure new partnerships? Tap into the real estate investment market by targeting individuals who aren’t necessarily looking to move into a new home, but are interested in potentially purchasing a home for investment purposes. Seek out properties that are for sale and investment ready, and target homeowners in higher price points who might be more receptive to purchasing the home as an investment property. Even though they may not be interested in moving into the property in question, they may very well be interested in purchasing the property if it features an investment-ready home they can add to their portfolio.

Topics and Questions You’ll Uncover During this Episode:

  • How real estate professionals can tap into “other” markets
  • An effective way to prepare for limited inventory setbacks
  • Creating new interest in today’s luxury real estate market
  • How you can attract real estate investors to partner with you
  • Creatively targeting buyers (and buyer agents) in today’s luxury market

Resources Mentioned within Episode:

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