A Deft Hand Needed for Palm Beach County Luxury Home Marketing
If you own a luxury home in West Palm Beach, this will be good to know: according to researchers at DataQuick, the number of homes sold at more than $1 million rose nationally by 37% in the first half of 2013. Last Friday, the Wall St. Journal headed its Mansion section with “the recovery in high-end real estate,” and Bloomberg reports that luxury home prices in the biggest four cities that had fallen nearly 46% during the downturn have now more than doubled.
If the formerly-missing luxury home buyers have been buoyed by record-breaking Wall St. returns, it’s not surprising that they’re now ready to come out of hiding. For some owners of luxury homes in West Palm Beach, that’s what they’ve been waiting for.
Of course, marketing a luxury home in our neck of the woods takes a deft hand. Selling any product in the luxury category requires some familiar skills: since the price tags are top-tier, the buyers require service and goods to match. The ‘customer’ is a successful person; someone whose time is important; who is likely well-schooled in discerning quality that goes beneath the surface and who won’t hesitate when it comes to making important decisions.
To appeal to discriminating prospects, you need first class marketing. Briefly, here are some of the technical points I advise my clients to keep in mind when I list their luxury homes:
We will be targeting a very narrow segment of the population. Our advertisements need to be placed on websites and in luxury publications that those buyers frequent. It’s important to realize that placement in elite publications will enhance a property’s perceived value by association.
When people purchase a luxury property in West Palm Beach, they aren’t just buying a house, they are reinforcing a preferred way of life. That means the community should be a prime selling point. You have insider knowledge of your community—knowledge that I as your agent can use in marketing. When potential buyers have a sense of being in the know, it allows them to more confidently picture life in their new community.
Successful people usually regard themselves as standouts because, well…they are! It’s hard to find the luxury home buyer who wouldn’t choose a distinctive property over one that, even though luxurious, isn’t special in some way. That’s why we carefully identify the points that make a luxury home in West Palm Beach unique—then tell that story!
If you are preparing to sell your Palm Beach County luxury property, it’s also important to team with a Realtor® with the contacts and networks that keyed to that segment. For a completely confidential property evaluation, contact me today to see what your luxury home might be worth in today’s market!
Questions, Comments or For more information you can email Christian Penner at TheMortgageTeam@ChristianPenner.com or visit us online at www.ChristianPenner.com or you can call us directly at: 561-316-6800
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