Just because it seems that the market is dwindling, it doesn’t mean that people have stopped buying luxury real estate. What it means, is that they are choosier about where they buy and with whom they do business. The luxury market is conservatively estimated to be 220 billion dollars and growing. To significantly increase your market share you must sharply differentiate yourself from your competition. How? Offer REMARKABLE customer service.
Every study from Harris Interactive to the Wharton School of Business emphasizes building a lasting relationship with your clients. Prospective clients are looking for a positive, memorable experience. They expect you to exceed their expectations. They may like your brand. But, what will solidify their loyalty is the amazing service you give.
Even in they don’t buy the first time, find ways to keep them engaged as to what is happening in the market they were interested in. Don’t just send updates on new homes; send interesting articles about the community, new restaurants or gallery openings. Better yet invite them to an art gallery opening, or a special museum exhibit. The world of luxury is small. Word will get out that you are strikingly different. A warm and friendly experience increases trust which means they are more likely to recommend you to a friend.
Do the same with existing and previous clients. Make them a part of your “in” crowd. Share with them your special secrets and insights. They will see you as the go to person.
For example, the designer Kate Spade reveals what inspired her designs with her “special clients”. She has a section on her web site called, “Behind the Curtain” that catalogues her influences, her interests and what she thinks is “hot”. Her comments serve to build relationships with her customers and engage them in conversation.
Harley Davidson did the same by creating a community. This revived a dying brand and made it profitable once again. They have added activities and meet ups as part of the brand, and as a result created a customer base that is fiercely loyal to the brand.
Apply these ideas, and you will be delighted by your loyal following.
GET FLUENT. GET AFFLUENT!
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