If you sell luxury real estate in a second home market this article is for you!
Here’s the deal, the best properties in the world are sold to high net worth investors around the world. $20M Penthouses in Manhattan are sold to investors from Los Angeles or Dubai just as $10M ski-in ski-out homes in Lake Tahoe are sold to buyers in San Francisco.
And of course, extraordinary resorts in The Bahamas are sold to buyers in east coast markets from Calgary down to Miami. London buyers commonly plunk down cash in The Turks & Caicos or Bermuda.
So don’t spend all your energy advertising in your own market, reach out to those feeder markets proactively. Sitting and waiting for everyone to come to you just extends the sales process.
So how do you affordably reach high net worth buyers in a targeted fashion, to your primary and secondary feeder markets?
A targeted referral program with new technology that allows agents to promote your property with their own branded website. A system that assures your referral partners that they will in fact be credited with a referral if anyone inquires through their website.
We’ve built this system and larger companies are now deploying this technology in their marketing plans. Individual property websites that can be branded and shared by agents in critical feeder markets. With a simple click of a button other agents can brand your property website as their own and send it privately to their own databases, for free. One website, branded to multiple different agents and companies. We call them Multi-Brand Property Sites.
Many of the world’s best agents (with the largest, most qualified databases) pay real money for luxury real estate networks like Who’s Who in Luxury Real Estate and Luxury Portfolio. Why not supercharge those memberships and allow fellow network members to promote your best properties with technology?
Today, referral transactions between different markets are one-directional and buyer driven.
A buyer in Los Angeles must ask their agent about real estate opportunities in Sun Valley to facilitate a connection. This actually happens probably 1% of the time.
There is little to no proactive promotion of extraordinary estates and resorts in Sun Valley, Idaho to highly sought-after buyers in Los Angeles because it requires extra time for the agent in Los Angeles to do it. Successful real estate agents are successful because they work harder than everyone else… they’re busy and time is spent wisely, not on promoting real estate in other areas.
Furthermore, advertising in newspapers and magazines in multiple target markets can be ridiculously expensive. So, the finest homes and developments in second home markets can sit on the market for years.
The answer is to make it really easy for your referral partners and make certain that they will be credited with every referral.
This is done with technology.
When a new lead is generated from a Multi-Brand Property Site, both the selling broker and the referral agent are automatically notified by the smart form in the site. No worries about whether or not your referral agent will receive credit for their referral. Total transparency.
Whether you sell for a luxury residential development or broker fine homes, if you’re in a second home market take a look at what we’re doing.
Especially if you live in Aspen or Barbados, or Nantucket, Sonoma County, Grand Cayman, Naples, Scottsdale, Sun Valley, Lake Tahoe, Malibu, Chicago, New York, London, Dubai, Vero Beach, Highway 30-A, Palm Desert, Sydney, Australia, Cabo San Lucas, MX, Playa Flamingo, Costa Rica, Mendoza, Argentina, The Bahamas…
You get the idea.