4 luxury real estate marketing ideas

Luxury real estate marketing is the most challenging segment for real estate marketers to take their product to the right individual.

Like budget segment you know who your potential customer for the project is but unlike budget segment, it is not easy to reach them.

Why is this segment audience so difficult to reach?

For example, a builder promoting a flat in the price bracket of 50lakhs to one crore can easily advertise his property in online portals like Magicbricks and 99acres or through hoardings and many ways are there.

He knows his potential customers are working class segment who all affords to pay the loan. This corporate working class segment will easily share their numbers and they don’t worry about getting promotional calls.

But when the same builder promotes a property worth 5cr-10cr he knows the potential buyers are top corporate executives and entrepreneurs who don’t need a loan to purchase this property.

The main challenge with this people is they don’t share their contact number easily.

The reason behind why they don’t share their number is, we can do a lot of business with the number.

Just imagine you can call him for insurance, you can call him to sell a luxury car, you can call him to become a club member and we can sell many things.

In my experience, I have witnessed proprietors of 5crore turnover business is also hesitating to disclose his contact number to the outside world then think of 500 or 1000crore turnover people.

Then when do they share their contact?

They will share their contact when your offering matches their requirements.

In a luxury real estate marketing, builders instead waiting for buyers to contact they need to make sure their number reaches potential people.

So in luxury real estate marketing, an outbound kind of marketing ideas are much appreciated. Here outbound means not hoardings and pamphlets but the selective medium like print and television.

Being in this industry for few years I found some mechanism that works well for luxury real estate marketing.

If you have any contradictions please comment down below.

1.Selective print medium for luxury real estate marketing

In metro cities at peak traffic, you might have noticed one common thing top executives are doing inside their car.

Guessed….?

Yes, they read a newspaper that too specifically business articles in detail.

When it comes to an advertisement on newspaper common real estate marketers promote their product in property segments like property plus or Times properties but in luxury real estate marketing you need to promote your property in the business article page.

The core concept of any advertisement is to cover maximum eyeballs. If your audience eyeballs are reading business pages then you should obviously promote your property on the page.

You have two options in print medium either promote it in a regular business segment or promote it in exclusive business papers like Economic Times and Business Line.

Though the cost of advertising is higher the visibility and advantages are also equally in higher side.

If you have a big pocket you can choose front full-page advertisement for higher visibility.

In this way, you can take your contact number to buyers.

Read: Best real estate portals to list out your properties in India

2.Buy verified leads 

You might have come across the database packages small-scale builders buy and do tele-calling where the rate of conversion is very very low.Out of 100 calls, they might end up in one site visit.

Most of these leads are collected in trade fairs where 90% are window shoppers. It is collected in such a way that to enter the event hall it is mandatory to leave their contact number and email address.

But the lead I am suggesting to buy for luxury real estate marketing is verified and high quality one where the rate of conversion is high and closing time is also minimal.

Where to buy?

There are few online reputed portals like magicbricks where these people post their requirements along with contact details.

But to access these contact details builders need to subscribe to a package of verified leads (different names in different portals).It works on a credit basis in some portals.

For example you can buy 50 credits for one month. Whenever you contact the builder either through SMS or email a credit from your subscription will be deducted.

luxury real estate marketing
This how verified leads work

All the reputed portals have access to this details with the concern of buyers.

3.First in industry experience centers

It is the first time in an industry that magicbricks introduced a real-time experience center to display your luxury property to high net worth income people.

An innovative artificial intelligence solution targeted exclusively HNIs put up in an airport and high-end malls where top executives walk in and spend ample time viewing your property.

For example, an experience center in Bangalore targeted purely business people traveling across the cities where they can spend enough time with your property after checking in.

Like Magicbricks experience center there are many property displayers across the country but only a few are targeting luxury class and magicbricks experience center is the one.

To know more about experience center please go through this video.

This experience center is not the one-stop solution for luxury real estate marketing but it is one of the solutions without a doubt.

These are the three high ROI luxury real estate marketing ideas to my knowledge if you any please comment down we will add it up.

4.Remarketing is one of the best ways to do luxury real estate marketing.

Hope you have the basic understanding of remarketing concept. If not

What is remarketing: For example, you are logging into Amazon and viewing a product to buy but in between, you are dropping the idea of buying now because of any reason and closing the amazon window.

The moment you viewed the product, Amazon dropped a cookie in your system and wherever you go outside amazon that particular product banner will start following for a specific duration.

Amazon retargets their leads to convert them into customers.

You can find such kind of remarketing from all the established e-commerce portals.

The same concept can be applied to luxury real estate marketing also.

There are two ways you can do remarketing in real estate.

Option A: Google remarketing

To do Google remarketing you need to bring the audience to your website and from then your ad starts following them.

But the challenge here is how you bring potential buyers to your website which talks only about your projects.

There is no any strong reason why a buyer has to search your site and land on.

You are not creating a value or a reason to visit your site.

So implementing Google remarketing is not advisable.

Option B: Magicbricks iFollow – A remarketing tool for real estate

Magicbricks remarketing tool is an innovative concept which is designed in such a way to tap your competitor’s leads and locality-based potential buyers.

Magicbricks is affiliated with 500+ high traffic websites where your ads will keep following them.

How does Magicbricks iFollow work?

For example, You have property worth 10cr in Thane and you want to target people who are all interested in that budget.

So once you activated magicbricks iFollow, whenever buyers go to magicbricks and view your competitor’s projects in that budget range and locality, your ad will start following them.

Buyers will see your banner on 500+ sites like Facebook, Economic Times, The Hindu, IRCTC, Times of India, Tinder and many.

This will keep your property on top of mind of the potential buyers.

Magicbricks iFollow is really an excellent product for luxury real estate marketing.

It comes with two variants either you target your competitor’s projects or locality based.

When you activate locality based iFollow buyers looking for projects in your project’s locality will start seeing your ad.

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Top 10 real estate sites in India to list your property in 2018

Indian real estate market is expected to touch $180 billion by 2020 which is bringing in much foreign as well as local investors to invest in major real estate sites and regional property sites.

Since the domain “Real Estate sites” is easily penetrable many new players are coming in with a handful of investments to compete with established players.

In India 75% of property buyers are going through online to find their dream property, means out of 100 seventy-five people making an online search before they finalize the property.

This number 75% includes duplicates, means the number 75 is not completely dependent on online portals but also finding in other mediums.

This number strongly indicates developers cannot miss out property portals in their campaign.

In some newbie property portals, the cost of advertising appears to be low but the return on investment for builders is also low or zero sometimes don’t get carried away with low cost.

Real estate marketers need to find the right platform before they spend a single penny on listings.

Listing your property on all platforms appears to be a right choice to create brand awareness but ultimately it increases your marketing cost.

With a limited budget, you have to find the best platform to list and sell your property faster.

Though it is wise to select the popular one based on their people’s reach advertisers need to know the why factor before selecting the real estate sites in India.

After going through all the real estate sites in India that google indexed, I compiled this listicle for you.

Best real estate sites in India to list your property online

 1. MagicBricks

India’s No.1 property site which could take your property to 11 million property seekers across the nation.

The advertising industry tycoon Times Group is the parent company of MagicBricks which is another reason for marketers to choose MagicBricks.

The US-based media measurement and analytics company Comscore measured that Magicbricks is having 51% more unique visitors than their main competitor in the real estate market Which makes sellers think of Magicbricks over any other players.

Out of 75% online property buyers, 52% of people are filtering their property on magicbricks (Reliable source) such a big number to be considered.

MagicBricks in association with stateBank displaying SBI approved projects to help customers to get an easy home loan.

MagicBricks introduced an app called Propworth where you can find the right price of any property in eight major cities. Propworth also helps sellers to fix the price for their properties by keeping it as a benchmark.

Buyers can get free property advice and free access to tools like propworth calculator, EMI calculator and investment insights.

Though the website is responsive and well mobile optimized Magicbricks introduced its mobile app (Android, IOS, and windows) to keep sellers connected with buyers even on the go.

Virtual Reality in Real estate in India

Magicbricks being a pioneer in the real estate industry introduced the experience center, a physical innovative kiosk for developers to display their properties.

Here buyers can walk into their desired properties virtually using VR gadget. More than in selection it helps buyers to filter out the undesired properties.

It’s completely free to visit the kiosk and they charge a premium from developers to advertise their property.

Other than the Virtual reality they have 3D hologram display and LCD displays for developers to showcase their properties.

Magicbricks experience center is not a one-stop solution for developers it’s just a one of the innovative solutions.

 

Read : 3 high ROI luxury real estate marketing ideas for smart marketers

2. CommonFloor

Founded by IITians later acquired by an online classified Quickr which also acquired Grabhouse later(another property site).

Commonfloor listed more than 5lakh properties across 200 cities getting more than 70 lakhs website views in a month across the Globe.

Other than mere property listing Commonfloor brought innovation in its user experience using Virtual Reality technology.

CommonFloor Retina the world’s first virtual reality innovation in real estate sector where buyers can experience the live visit to the properties. They can access to kitchen, bathroom, dining and bedroom of their future property virtually.

A research found that the potential buyer spends 6-12 months of time and travel an average of 300kms before they take a decision.

Commonfloor retina addresses this delay by helping buyers to visit properties in different locations in one place using virtual reality technique.

This technique will considerably reduce the time taken and distance traveled by buyers.

The ultimate desire of all the seller is to sell his property as early as possible to reduce the interest paid to the bank. So Commonfloor retina is also the boon to sellers.

On Commonfloor under Live-in Tours, buyers can experience 360-degree property by simply dragging over the image.

3. IndiaProperty

This Chennai-based property site holding 6lakh + properties and 2lakh + satisfied buyers across the nation.

Their flagship feature Assisted Property provides end to end assistance before and after buying the property.

Like Commonfloor Indiaproperty also having built-in technology for 3D floor plans and virtual tours which ensure buyers get a personalized feel while visiting properties online.

I am little confused how this website is calling themselves as India’s No.1 property site with mere 3million unique visitors in a month.

4. Housing

With its 3.5 million visitors, it will emerge as the competitor for Magicbricks in near future.

Proptiger (another property site) acquired Housing.com and Makaan.com to become the India’s largest real estate property displayer with each website having their own USP.

Other than common website view, Housing.com merged with Uber to take the buyers to the location in few clicks without leaving the site.

Housing.com introduced Housing Go a mobile app for buyers to flip through properties on the go.

This website focuses more on first-time buyers in the age group between 25-40 even in their TV commercials which is the one unique reason sellers has to think of choosing Housing.com

5. 99acres

This company is in a neck to neck race with Magicbricks in terms of revenue generation not in user experience.

A well-known brand in the real estate industry owned by info-edge gaining millions of views from potential property seekers.

Though the website is not as attractive as Magicbricks they too have a considerable number of views for sellers to think of 99acres.

While analyzing all the real estate websites to create this simple useful listicle I found that Magicbricks is much better than any other real estate sites in India in any terms.

6.Sulekha Properties

Sulekha is an established online classified in India but they too have a footprint in the real estate market.

Property(dot)sulekha(dot)com is one of the online real estate sites which falls in the same business line with other online property sites.

The website looks clumsy and is not as professional as magicbricks or 99acres but having decent traction in the market.

Realtors having budget concern go with sulekha properties as it is the cheapest real estate portals comparatively.

Despite generating good turnover from sulekha properties,sulekha still depends on Google Ads which may distract and takes the real estate buyers out of the site and may end up in somewhere.

For example: Being a real estate promoter I am investing 1lakh in sulekha properties when buyers come and visit my property and they also show an ad which is out of context and it is based on the user cookies then there are more chances a buyer will leave the site and follow the ad.

Sulekha should think of removing this feature from their portal.

7. Roof and Floor

Like MagicBricks which is backed by the industry tycoon Times Group, Hindu Group also introduced their online property portal roof and floor to takes its pie in real estate online advertising.

Though it is backed by the Hindu Group they entered the market very late.

Though roof and Floor claims the developer that whoever read The Hindu newspaper on weekends they will come to know about roof and floor. But what is in it for developers.

Already buyers are given many established options like Magicbricks and 99acres then why they have to again invest in roof and floor without any compulsive reason. In a simple words roof and floor is just one of the real estate sites online.

8.NoBroker

NoBroker is one of the online real estate sites which is popular for rental than a sale. It connects property owners directly with property seekers.

This business model works better in the rental segment because only in rental segment tenant gives brokerage whereas in buying segment developer will take care of agent brokerage not imposed on end buyer.

No broker’s revenue model is also completely different from other established portals.

In other real estate sites, advertisers (property owners) have to pay to list out their properties and the end user can contact them for free whereas in Nobroker property owners can list out their property for free and end user has to pay a premium to view contacts.

real estate sites

Really one of the popular and useful real estate sites for the rental segment.

9.Propertywala

Propertywala is just one of the real estate sites in India to list out your property like other leading portals. Propertywala offers one free listing for individuals like owners and paid service to builders and agents.

Listed thousands of properties across the country but doesn’t give the intuitive feeling to come to the website again

10.Quikr Homes

Quikr, the largest online classified site in India started a vertical in real estate called quikr homes to make this sector further crowded.

Quikr which was early in advertising used products started many verticals like quikr easy, quikr bikes, quikr cars, quikr Bazaar, and quikr is just an another vertical.

Almost doing similar thing what other leading players are doing in the market, nothing different or new.

FYI : List of Free Property Listing Sites

1.    Magicbricks 2.    99Acres
3.    CommonFloor 4.    Quikr Homes
5.    OLX 6.    Makaan
7.    Property wala 8.    Property Bazaar
9.    Property Khazana 10.  FreeIndiaProperty
11.   Sulekha 12.   Housing
13.  Property wala 14.   IndiaProperty
15.  RealEstateIndia 16.   PropTiger
17.  Nobroker(for rental) 18.   Zricks

Bonus tip to generate leads for your property

Spini, unlike other property portals spini is not a listing site but a lead generating platform.

For example, if my friend is looking for a property in Chennai, I post my friend’s contact number and name on Spini, they will do a background check to find the authenticity of the lead post.

Once it is confirmed they will share the lead to the respective builders.

How to choose the best real estate site to list out your property online?

In any product sales when buyers are given numerous choices buying process consume more time.

Ten years ago in real estate buyers are given limited choices and limited knowledge but the scenario in this decade is completely upside down end consumers are given numerous choices and real estate sites are feeding them more knowledge than required which is ultimately deferring the buying.

Study claims, buyers are spending an average of 6months to buy his first house.

When buyers are taking this much time developers also need to market their property for a longer duration.

Online is the one and only effective option developers are left with to advertise their property for a longer duration.

But when it comes to picking right real estate sites we need to know few metrics.

1.What is their monthly traffic in your project locality?

You can ask the sales guy to come up with the right figure of their searches per month, visitors per month and unique visitors per month in your project locality.

They do provide and obviously, you have to stick with the high traffic one.

2.How do online real estate sites generate leads?

There are two ways to generate leads for your project.

A.Organic and B. Inorganic

Real estate sites like Magicbricks and 99acres generate organic leads, they display your property to buyers and if the end buyer is interested in your project he/she will contact you.

The drawback of the organic method is you may get few inappropriate leads like bank agents, competitor portal’s sales guy, real estate agents and few who are contacting to get business from you.

Inorganic lead generation

Here real estate sites generate leads for one project and pass it on to others.

For example 10 leads are generated for a project in the bracket of 60-80lakhs they call and verify those leads and pass it on to other projects falling in the same bracket.

The drawback is they share the same leads to all the projects lying in the same locality of that bracket.

3.Do they give any sale assurance?

If the answer is Yes, the salesman is just trying to close the order and escape.

I can assure you one thing, no advertisement platform can assure you sales it can be any medium.

4.How much to spend?

Money spending in any business is not a spend it’s an investment. So we can think of how much to invest in online portals.

The basic thumb rule in any advertising medium is “the more the subscribers the more the cost of advertising” because to bring that many subscribers their market spending is high.

So don’t ask the sales guy to suggest the lowest price product rather you can ask for the best product and negotiate on this.

And don’t select any portal because they are cheaper than the market leader. Stick with the market leader.

These are the four basic things to consider while choosing online real estate sites to advertise your property.
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