MIAMI Association of REALTORS




Social Media for Luxury Real Estate

by | Mar 03, 2014

point2_social-media-for-luxury-real-estateAnyone trying to sell anything knows that marketing is important, and the marketing industry has become obsessed with social media. For most real estate, this is no exception, but for those in the luxury niche, it can be difficult to pinpoint which marketing tactics just won't work. After all, luxury is all about exclusivity, while social media is all about accessibility. Making the two work together is tricky, but it can be done.

History of Luxury Marketing

Marketing in the luxury niche has always been prone to paradoxes. You want your brand to be visible, but not easily obtainable. It's just like you want your product and service to be accessible and convenient for your target audience, but not to the world at large. In both scenarios, the answer comes down to knowing and targeting your audience. Yes, you might want the world to know your name, but you don't want to pull a Gucci and lose your status because of overzealous sales and marketing tactics.

 When Gucci tried created a mobile app, they failed to connect it with fashion; this created a disconnect with their audience and failed to meet user expectations. They also failed to maintain the quality of their products in their social atmosphere, which made the brand seem like it was losing focus.

Real Estate and Social Media

When it comes to social media, there is a different tactic for every niche. Private agents might use Twitter and Facebook to build their network and connect with people looking for homes in their area. Luxury homes are often sold to people from other regions, though, so this is not the best usage when it comes to the luxury side of real estate. LinkedIn can be used to make business connections and build an agent's portfolio, but that's more on an individual level than "brand."

Making Luxury Social

So how can luxury be made social? Well, the first way is to focus on image rather than listings. Everyone on Twitter won't be able to afford your houses, and you don't want them to. However, you do want them to wish they could buy your house. That's where the definition of luxury lives: desired status.

So don't focus on selling your listings on social media, focus on your brand personality. Luxury real estate is often judged first and foremost on looks, so why not focus on social platforms that celebrate pictures? TOWN Real Estate's LookUpNewYork Instagram campaign is the perfect example. They encouraged New Yorkers to send them noteworthy examples of beautiful architecture in the city. This was a brand awareness campaign, and it was able to engage a large audience without affecting the perceived audience for their listings.

Here are some specific ideas that can be used for luxury real estate social media campaigns:

  • Use apps like Instagram to post pictures of listings, encourage people to comment
  • Tweet updates about the state of the luxury market
  • Tweet news about celebrity real estate purchases
  • Host a best photo contest for pictures of beautiful buildings. If you operate in several cities, you can host one contest at a time and cycle through each location
  • Post about high-interest properties that are for sale or have recently sold (not necessarily just your listings--anything newsworthy)

Focus on images for the masses and statistical information for your target audience and you'll be able to find the balance between brand awareness and brand exclusivity. The important thing is to figure out who you're targeting with each social media platform, and focus exclusively on maintaining consistency for that audience.

What do you think is the best social media strategy for luxury real estate? Is it all that different from the general real estate market? Share your thoughts in the comments below.

To view the original article, visit the Point2 Agent blog.

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