| As we all know, the Sacramento luxury real | | | | publication that specializes only in homes of |
| estate market is quite different than it was | | | | this caliber, and at the very least…one |
| just a couple years ago. More luxury homes | | | | that actually sells luxury homes? Has the sum |
| are on the market, they are sitting longer, | | | | total of your marketing in "all price point" |
| and the price points have come down from | | | | publications to date, ever sold a home for |
| their record highs. Though the higher end of | | | | you listed over 750k? |
| the Sacramento luxury home market hasn't been | | | | |
| affected like the $300,000-$500,000 range, it | | | | The consumer research has long been in, and |
| isn't fully immune from difficult market | | | | it is as concise and conclusive as it was |
| conditions. | | | | thirty years ago… luxury home buyers |
| | | | seek exclusivity and view themselves as part |
| As a professional Realtor specializing in | | | | of a special "club." They differentiate |
| marketing Sacramento luxury homes, you are a | | | | themselves by the stores they patronize, the |
| business person. You run your own show, you | | | | publications they read, and the cars they |
| look after your bottom line, and you always | | | | drive. Marketing that $1.7m Tuscan Beauty in |
| do your best to represent your clients in the | | | | a box in front of a Subway sandwich shop is |
| best way possible. | | | | akin to marketing Porsche's at a 7-eleven. |
| | | | When push comes to shove, even a $500 |
| Your first thought may be to cut back, and | | | | investment without return, is $500 down the |
| there is nothing wrong with that. We all need | | | | hole. Making the decision to advertise in a |
| to be a bit more careful in this changing | | | | well respected, targeted, upscale, and |
| economy- taking the medium sized sedan to | | | | results driven publication may cost you more |
| work instead of the large SUV, going out to | | | | in the short term, but its something that |
| eat once a week instead of 3 times a week, | | | | will benefit your clients, and continue to |
| and taking a trip to San Francisco instead of | | | | benefit you and your business for months and |
| Rome. | | | | months to come. |
| | | | |
| When it comes to YOUR business, it's all | | | | All businesses, from a mom-and-pop diner to a |
| about making the CORRECT decisions. Sit down | | | | large corporation need to promote their |
| and truly evaluate where your money is going, | | | | product. As a Realtor, your product is your |
| and which avenues are the most effective. | | | | listings and your ability to sell them. |
| Let's assume you have just taken a new $1.7m | | | | Utilizing the proper promotional vehicle for |
| listing in Granite Bay. Should you market it | | | | a particular product is technically coined |
| in a couple of cheaper, 12x yearly | | | | "niche marketing;" but in this market, or any |
| publications aimed at all price points | | | | market for that matter, it should simply be |
| including $199k condos and mobile homes? | | | | called smart marketing. |
| Might it be a better investment to consider a | | | | |