I thought this article was very interesting. It is kind of like shopping for a home in the same way you would shop for clothing in a magazine. A real estate firm in Charlotte, NC decided to change the way they marketed properties and are now hiring models to pose in listing photos of luxury homes. The firm had been doing very well in 2006 and 2007 and was the #1 seller of high-end homes in Charlotte, but when the real estate market began to decline in 2008 and 2009, the owners, Nick and Miriam Peters, decided to revamp their marketing campaign.
Just as clothing companies hire attractive people to model their products in magazines, this real estate firm has hired models to, essentially, “try on” these luxury homes. This can allow customers to envision themselves in the home just as they could envision themselves wearing an article of clothing that has been presented by a model in a catalog.
The owner evaluated his campaign’s effectiveness and found that visitors browsing listings with typical photos only stayed on the listing for 40 to 60 seconds whereas they stayed on the listings with the “lifestyle photos” for 4 to 6 minutes. The longer a client stays on a listing the greater the chance they will purchase it. Overall, the Peters’ listings went from getting 3 to 4 clicks per week to getting 10 to 20 clicks per day. In addition, the firm has seen a 300% increase in home sales over the past year.
Nick Peters, whose target market includes wealthy clients such as pro athletes, coaches, business executives, and entertainers, also creates additional value for his customers. When clients come to Charlotte he has them picked up at the airport in a foreign car and taken to a spa for some relaxation or to a club for some golf. Once the customer is rejuvenated Peters takes them house hunting.
I think the Peters did a fantastic job with their marketing campaign, not only because it was so successful, but because including a model in the photos allows the buyers to see themselves in the home. It is helpful for these clients to be able to envision themselves in a home before they make such a large investment. In addition, placing an attractive model in photographs of luxury homes may encourage clients to buy because they may subconsciously imagine that living in the home will make them appear chic and glamorous just like the model. Finally, I think the unique buying experience Peters created for his customers by pampering them prior to their search for properties was also a brilliant idea. The decision to buy a luxury home is a big decision and a large investment. Therefore, it helps that the buyer is relaxed and in the right frame of mind before they begin their search for the ideal property.
This article made me wonder: Will other high-end real estate firms emulate what this firm has done? Will these additional services now be standard practice?
Posted By Katie Guerra
No comments:
Post a Comment