High End Properties

[John Arendsen]

What's the best BP forum for learning about how to market high end properties?

[Michel Lee]

That is a great question I have been wondering that myself. Currently I just use the keywords "highend". 

[Celu Ramasamy]

Ya I have been looking for resources on how deal flows in the high end of the market work...not sure if things like emailing owners using a list would work for the 3-4M end of residential property market, if you are looking to generate off market leads.

[John Arendsen]

I'm just trying to help my family market a 10m home in Corona del Mar, CA (China Cove). Anyone know any deep pockets looking for a 5 story mansion with a 6 car garage and an elevator overlooking Newport Harbor?

[Kevin Fox]

Hey John,

I don't believe that the forums has a section dedicated specifically to marketing high-end Real Estate, so your best bet may be trying your luck with the search function.

Exactly how you market an ultra-high end listing will really depend on the specific details of the property you are selling, but there are a few quick tips that I think are applicable pretty much across the board for $3M+.

First, a DETAILED individual property site is a must. The site should have, among other things; information about the home, the neighborhood (schools, shopping, etc), interactive virtual tours (where you can actually navigate through the property similar to google street view, not just the traditional "virtual tours" which are essentially glorified slideshows with background music/narration), video of a drone aerial property survey, CMA data and pricing justification, links to any press on the property, and a way to easily/discreetly inquire about the property or schedule a private viewing.

Something else that I find is almost always advantageous is using the avenues provided by the neighborhood you are in to help sell the home.  For instance, find out where the people with the deepest pockets from that area congregate (golf course, country club, etc) and find the channels best suited to get your message communicated there. 

Personally, I find the whole Dream Homes/similar magazinesthing a joke. This is 2015, no one turns to a magazine for their source of potential $10M homes.  With the exception being some of the very few most breathtaking/turnkey homes, the only way those magazines help you sell the home is that you can put "as seen in Dream Homes" on the online ad.

Again, there are a million different marketing avenues you may potentially want to exploit depending on the property, but the few things I mentioned will hopefully give you a starting point.