Cultivate an aura of exclusivity
One of the best ways to sell a $10 million home is to create an aura of exclusivity. High-net-worth individuals don’t buy listings; they’re more interested in narratives and stories. Therefore, your luxury real estate marketing should reflect this.
Don’t just write basic property descriptions. Hire professional copywriters to craft narratives that position a home as a way to achieve a certain legacy or lifestyle. Use language that evokes emotion and conveys status.
Include high-quality visuals, too. Many realtors are using drones to fly over properties or create walk-throughs that show high-net-worth individuals the lifestyle they can expect from a particular residence. Choose the time of day carefully, especially for drone footage. Twilight photography is especially effective for the luxury market, since it highlights home lighting.
Use advanced marketing tactics
The next step is to use advanced marketing tactics. Simply posting pictures of the property on Zillow won’t work.
The best approach is to list the property on international platforms that appeal to the wealthy, or to go directly to publishers like The Wall Street Journal. When you do this, you can get articles written about the property that will increase excitement even more.
It can also be helpful to direct-mail the 1% of people who can afford the property. Send them leather-bound or thick-stock brochures directly to their wealth managers, family officers, or existing residences. Give them a sneak peek at what they might expect if they were to buy the property, to get them excited and interested in purchasing.
Master preparation
You also want to master preparing the property. If you do not, any floor can become a negotiating point the buyer can use. Many luxury realtors use white-glove staging agencies. These firms have teams of designers who can arrange furniture and place original pieces of art on the walls to make the property more attractive while still making it look curated and lived-in
If you want to hire a concierge inspection company, do so. They are experts at identifying what needs to be fixed and bringing the property up to a condition ready for prospective buyers to tour.
Manage clients
When you’re selling a $10 million home on behalf of a client, it’s worth investing in client management.
If they have a property of that value to sell, it usually means they don’t have much time, they have high expectations, and they’re high-performing overall. When communicating with them, use data and high-level metrics that show the number of inquiries they’ve had, and avoid any fluff.
Be prepared to turn down lowball offers or unqualified buyers quickly. Make sure anyone who wants to look around the property is serious and has the capital to at least afford the deposit, if not to pay cash outright. High-net-worth individuals value their privacy, so discretion is key. Only reveal the owner’s name if it’s absolutely necessary.
