Tips and Tricks for Developers: How to Market High-End Properties
In this latest installment of Tips and Tricks for Developers, Dean Parker interviews Marty Ayles to gain his insights on how to get the best possible price when selling luxury townhouses.
Hi, and welcome to the latest PropertyInvesting.com blog. I’m back over in Adelaide with Marty Ayle. Today we’re going to be talking about marketing, and in this case, how to market extremely high-end properties. Marty, let’s have a chat about what you’re doing differently, what agent you would select, and all those sorts of things.
Basically the difference with a property like this, compared to an affordable home, for lack of a better word, is that everything has to be perfect. The product has to be perfect, the presentation has to be perfect, the furniture, the photography, and the list goes on. We need to make sure that whoever you’re outsourcing those tasks to has a really good handle on marketing and knows how to write good copyright.
One of the things I’ve learned over the years is to make sure that the real estate agent is a ‘go-getter.’ You want a real estate agent who is already making a lot of money out of selling real estate.
More specifically, you want a real estate agent that’s hard to buy off of; if you tried to buy from them, you’d find they’re sticking to their guns. That’s who you want to be selling your property.
Your agent needs to be a perfectionist; someone who has an eye for detail, who doesn’t take no for an answer, and who expects everything to be perfect. You want your agent to be professional, as well as courteous. Someone who’s a good negotiator.
You need someone with a little bit of firmness about them, but still obviously pleasant to deal with.
Is there anything else that you would want to avoid when selling one of your higher-end projects?
You spend a lot more money and you amplify what you would normally do. Instead of putting seven or eight photos online, we’ll post 35 or 40 photographs. To get some impressive aerial shots, we’ll use the drone, you know, the helicopter for the photography; things like that.
We really spend the money. The sign board’s bigger than normal. It’s got a light on it. Things like that.
It’s just about taking everything to that higher-end level, and that’s what you have to do.
It sounds like the long and the short of it is, it’s a premium product, so you need a premium agency.
The agent has delivered all of their premium, collateral services.
You not only take video footage, but you pay for a huge, full-page advertisement.
|Nothing is completely out of the ballpark. You’ve shown that even with a product like this, you do a reasonably standard marketing campaign, although, much higher-end to fit in with the product type that you’re offering.|
I hope these have been helpful insights into how to market an extremely high-end property. We’ll see you next time.