In a recent Estate of Mind podcast episode, Andrew Perrie, Director of Recruitment, Head Coach, and Sales Representative at Revel Realty Inc., shared a common listing mistake that almost every real estate professional makes: posting luxury properties listings primarily on social media and “hope for the best.” Perrie believes this marketing method is a disservice to both the buyer and seller because it conveys that you’re not putting enough time, effort, and money into promoting their multi-million dollar properties.
According to Perrie, the first step to promoting a property is to reach out to your sphere of influence and referral network. He has a “well-known online presence,” and roughly 85% of his business is through agent-to-agent referrals. He also has partnerships with over 100+ listing websites and distribution channels worldwide to attract “high-hitting buyers” from outside the country. However, Perrie also stresses the importance of utilizing traditional print marketing strategies such as flyers, magazines, and postcards to reach local prospects.
Although your marketing efforts are crucial to promoting your listings and business, it shouldn’t be your primary role because, at the end of the day, you are a real estate professional, not a marketing professional. Therefore, it’s best to rely on your in-house marketing team (if you have one) and other specialized talents to boost your marketing strategy.
Benefits of a Supportive Marketing Team and Specialize Talents
Perrie noted that it’s highly competitive for new real estate professionals to break into the industry, and relying on a solid marketing team of videographers, photographers, graphic designers, and copywriters could help alleviate the stress of creating marketing their brand from scratch. Even with veteran real estate professionals, utilizing the marketing team support system will streamline their listing process and allow them to spend more time with potential clients.
What if you don’t have access to a robust in-house marketing team? Look for a third-party vendor to help with your specific marketing needs. Although Perrie has access to a team of in-house marketers, he shares that working with outside talents for his lifestyle content and social media presence is a great way to enhance his business. Here are some tips from Perrie on what to look for and how to vet a third-party vendor:
- Look for talents with passion and ideas that align with your business goals and visions.
- Before inquiring about their services, check out their social media, portfolio, and testimonials.
- Vet them by reaching out to their previous clients and asking about their experiences working with this talent and if it was worth the cost and time.
- Always schedule a consultation and provide trail runs with smaller projects.
- Don’t be afraid to look into talents with different perspectives that would enhance your online presence.
Through a combination of traditional print marketing and digital marketing with social media, you’ll be able to reach a broader range of potential clients while creating an outstanding online presence for your business.
Building Your Referral Network
The Institute for Luxury Home Marketing was founded in 2003 as an educational and support organization for real estate professionals specializing in luxury properties throughout the U.S and Canada. Members gain the distinct advantage of a strong referral network and the ability to nurture meaningful connections with agents in both countries. That alone can help to boost local listings and promote new leads.
Access to training tools and professional development courses. The diverse resources are invaluable as you seek to grow your business and expand your potential as a luxury real estate professional. Certified Luxury Home Marketing Specialist™ is recognized around the globe. Membership and training are open to licensed real estate agents regardless of firm affiliation. Learn more about The Institute and how to take your business to the next level.