As a luxury real estate marketing professional it is essential that you understand that luxury is a relative term. The word has been strongly associated with the lifestyles of the rich and famous and primarily with conspicuous consumption and being ostentatious. But, there is so much more to the meaning of luxury than glitz and glamour.
Perhaps you saw the recent 60 Minutes TV show that featured two extreme stories about luxury. One story was about a Korean prison camp escapee whose concept of luxury was eating boiled chicken because he was only fed cabbage and gruel his entire life. Certainly, we have heard of extreme poverty in underdeveloped countries. But, never have we heard of three generations of prisoners who were being punished for the political crimes of their forefathers.
The other story was about a psychiatrist who realized a dream of creating the first airplane powered solely with solar energy, one that could fly at night using the stored solar power from the previous day. To this visionary, luxury was the satisfaction of achieving his individual potential.
It is utterly amazing to conceive that such extremes can co-exist in modern times. But, such is the current state of human nature. How is it possible that one man can fight so fiercely just for the right to find nourishment, while another man can let his imagination take flight, beating all odds to make the impossible, possible?
Abraham Maslow was best known for creating the hierarchy of human needs. He addressed these extremes when we expounded upon the spectrum between the need for physical health and safety through the need to belong, the need for self-esteem (and the esteem of other) and the need for self-realization.
The upper tiers of this hierarchy is where you find most luxury real estate buyers. Yet, throughout each tier is the yearning of the human spirit to take flight, to rise above it all, physically, mentally and emotionally. The rewards of satisfying one’s needs, each step of the way, is what true luxury is all about.
Take the time to genuinely understand the needs of your clients. Understand what luxury means to them. This will serve you well and will enable you to serve your clients better than ever.
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