With so many online listing portals available to luxury real estate buyers and sellers today, effective real estate marketing is one of the only ways that luxury real estate agents can differentiate themselves from the crowd. So what’s the right way to do it?
Knowing how to network online is just one piece of the puzzle when it comes to generating new business, but keeping your prospects engaged is another. The mistake most agents make is constantly pitching their services and new listings, which is actually one of the reasons that buyers and sellers are drawn to online listing portals in the first place: they can look at listings without having to defend themselves from being “sold”.
At the Institute, we’re passionate supporters of “ditching the pitch” and giving your network valuable professional guidance that shows them your expertise rather than just selling it.
One way we do that is by offering Certified Luxury Home Marketing Specialists a “done for you”, monthly Luxury Market Report that you can simply download and share with your prospects and current clients.
Whether or not you use our platform to do that, there are quite a few reasons why you should consider sending out a monthly luxury market report to your network as part of your real estate marketing strategy.
1. A Monthly Luxury Market Report Positions You As a Valuable Resource
Again, today’s luxury buyers and sellers are looking for professional guidance, and they don’t want to be treated like a “transaction”. When your real estate marketing strategy includes a reliable market report, you’re implying—not promising—that you can be a valuable resource to them.
By showing them market trends like what prices properties in their area are actually selling for, whether it’s a buyer’s or seller’s market, or giving them the right time to buy or sell based on hyper-local data, you’re giving them a reason to trust you and seek your guidance over trying to sift through the information for themselves online.
Today’s buyers and sellers are starting to see that one of the biggest problems with online listing portals is that the data doesn’t move as quickly or as accurately as people think they do, so providing them with an accurate snapshot of the market is one of the easiest ways to give them what they’re looking for.
2. It Helps You Generate Leads From Your Network
One of our top-performing alumni, Jordan Ayan, told us in his Member Spotlight interview that every monthly market report he sends out generates multiple leads.
One would believe that a lot of luxury real estate agents are using market reports as part of their real estate marketing strategy, but they’re not!
Even in big, metropolitan areas, you’ll see more paper mailers and emails highlighting new listings in the area than you will see market reports that actually tell prospects how their local market is doing.
However, prospects are interested even if they’re not ready to buy or sell yet, and if you’re the agent in your area who is giving them these insights, then you’re likely going to be the agent they call when they need one.
3. Including a Luxury Market Report On Your Website Can Improve Your Local Search Engine Ranking
Since so many luxury buyers and sellers are interested in the state of the market, it makes sense that there are plenty of monthly online searches for your particular city and its market report.
From a keyword and search optimization standpoint, if you’re interested in getting more organic traffic to your agent website, this is an easy way to accomplish that goal.
4. Your Email List Will Appreciate The Information
Want to see your email open rates go way up? A market report can do that.
If you do have listings you want to share with your network, leading them in with a market report and tacking listings to the end of the report or at the bottom of your email is a simple and less intrusive way to share your inventory.
Additionally, when you regularly show your email contacts that your goal is to educate them instead of selling to them, they’re going to be more likely to open the emails that are selling your services. A monthly market report helps earn that credibility.
5. Market Reports Make For Highly Shareable Content on Social Media
One of the most frustrating things about online real estate marketing is how difficult it has become to grow your social media network without paying for ads or boosted posts.
However, if you create content that people want to share, you can get more eyes on your content and your social pages without paying a dime. Since a market report is relevant to a lot of people in your area, it has the potential to get a lot of social engagement, including shares.
Want to maximize your luxury real estate marketing strategy?
If you’re serious about generating more income, growing your network, and having the kind of luxury real estate career that most agents only dream of, we encourage you to join us at our next Luxury Live event. These events give you the opportunity to earn your Certified Luxury Home Specialist designation and to gain insights from top-performing agents worldwide.