The top end market
What does that look like in Shropshire?, Mostly stately homes, Georgian manor houses, large acreage properties (estates), luxury barn conversions, Converted Hotels/Boutique B&B’s.
I would suggest there are as many different kinds of luxury buyers as there are luxury properties!
You need to know the luxury market in your area!
Are your best buyers business owners who want a home to entertain clients?, are the buyers looking for a complete lifestyle change, maybe they want to start a business venture with multiple income streams of rented homes/cabins/rooms.
What Is the purpose of their move? ultimately, what problem do I have to solve as their agent…
You really have to start thinking about this at the time of taking instructions from the seller.
Before marketing, you have to ask yourself the question, apart from Rightmove, how do I catch the buyers attention?, where is the potential buyer also looking?, what do they read? (Hence Sunday times- Bricks & Mortar) Country life magazine, Horse & hound, I am sure you understand where i am going with this…..
This will impact your marketing efforts. There can be striking differences between luxury buyer types!
Here are some other questions to answer:
How old is the average luxury buyer in your area?
If they are older you want to get familiar with upgrades, like first floor master bedrooms, accessible facilities that provide comfort, access arrangements to parts of the grounds, for example.
If they are younger you will want to learn about smart homes, technology solutions and features that appeal to that demographic, the energy performance of the home, the potential for upgrades, the broadband speed.
If they have school aged kids start to find out about private and charter schools and what the school catchment areas. (Where does the bus pick up the children to take them to private school)?
You can’t just bury you head in the sand on this one, educational movers are a large market.
What kind of jobs do they have?
If you have a large medical centre in your area you might want to focus on distance to GP practices, Or maybe your clients will want to know time/distance to the airport if they travel.
What are buyers hobbies?
Many luxury buyers will want to know about golf courses, tennis clubs and local country club details, again mention these in property details. (cost of memberships)
Not having this information available will make you look incompetent and unprepared, BUT the brilliant thing is that most of these types of places have staff members whose job is to share information with people like you!
Visit the local country clubs and get their marketing collateral to share with your buyers. Get marketing materials from local attractions to keep on hand in case questions come up!
As you know by now Social media for me is also a big part of my marketing strategy and it is not to be ignored in 2021.
The results have been measurable with applicants registering and sharing my homes with friend and families, as well as valuations booked with potential sellers.
It really is my responsibility to have this information at my fingertips for buyers.
This translates down to the price ranges of course, however these are some of my experiences as a London agent.
Enjoy the weekend, remember the clocks “spring” forward.
Daniel
