With so much information readily available online, the sales pitch for creating a luxury property value proposition centered around story and lifestyle has never been stronger, writes new Inman contributor Fritz Corsby.
You only have a fleeting chance to make an impression, and when it comes to justifying the price of a home, the history and lifestyle it offers have more influence than the square footage or amenities.
The number of trophy homes available is staggering, and it’s very easy to list the features of the expansive mansions, with their “sparkling” pools, “stunning” designer kitchens, and “breathtaking” views.
What makes a home truly collector-quality is the provenance and lifestyle it conveys. When it comes time to look for trophy houses that are actually unique and notable, the number of listings dwindles considerably.
Marketing experts at luxury-oriented brokerages understand that this story creates a concept of scarcity, and therefore potentially higher prices.
There’s a reason why brokerages like Sotheby’s and Christie’s publish glossy magazines. Typically, the goal is to target buyers, sellers, and agents of luxury goods. But agents working in all segments of the market can benefit from the idea that history, lifestyle, and atmosphere can make a difference.
1. Provenance is a pricing tool, not a footnote.
Most people don’t know who designed their home. A select few can afford to care about architects and provenance, but attention from this group can have a dramatic and outsized impact on a brokerage owner’s bottom line.
Harry Gesner of Malibu, John Lautner of Palm Springs, Richard Neutra of Silver Lake, and Ray Kappe of Pacific Palisades will sell for higher prices than more typical large homes. Additionally, one listing at this level can shape an agent’s entire career, as it is virtually guaranteed to garner more attention from the media, future clients, and colleagues.
2. It’s the story that matters
People want to know about Crocodile Dundee’s former home, the mansion I wrote about that belonged to Anthony Kiedis, the house where the Footloose writer spent more than 40 years and collaborated with countless other stars, the seaside ranch next to Brad Pitt’s home, or Frank Sinatra’s desert retreat.
However, fame is not a requirement for storytelling. For the custom “Neo Caribbean” I wrote for Wrightsville Beach Magazine, the story centered around various differentiating factors.
The wine room, for example, is lit by a chandelier made from broken glass bottles consumed at the groundbreaking party. Likewise, the owner’s custom-built “Balmoir” is always a conversation starter.
Details emerged from conversations with architects, interior designers, and owners. Agents who are willing to do research and find people who can present information will get a list that other agents cannot match.
3. AI is great for list creation
You can get comps and list details on any model. Learning why interior designers flew to New York three times to sell furniture and translating that into languages buyers are actually interested in is an area where technology lags.
Importantly, as technology evolves, more and more copies of your list will be automatically generated. This means your published copy will get more attention as if a human were in the room. Agents who write well and hire writers can develop a competitive advantage.
4. Sellers want a story.
Buyers can always skim the bullet points. A seller who draws a check for 2.5 percent on an $8 million deal might logically wonder about the agency’s value proposition.
Magazine-quality articles are things sellers send to friends and are tangible items of value that show the agent cares about their home. On the other hand, careless explanations can damage an agent’s reputation.
Luxury sellers often have friends who are highly educated and have high incomes. A strong narrative doesn’t guarantee a referral, but a bad one is a reliable way to keep clients from calling you again.
5. Lifestyle is a place with reports
Any agent can mention their zip code and school district. The writer explains what the place actually offers. A dock that puts its owners on the water at dawn, a neighborhood where an annual Christmas tree was planted by three neighboring families, and a sunset-facing porch that inspired the architects.
The facts are the same. What changes is whether an effort has been made to create a convincing argument for those facts.
6. Great property writing will also be featured in the following list
Could AI infuse a story with a combination of compelling puns that make readers want to learn more about the property? Who knows, but consider the copy I wrote about the Villa Maggio estate, which Frank Sinatra personally helped design and build.
“There are a lot of cool features, but one of the most unique has to be the secret passageway between the two bedrooms. If walls could talk, what stories would they tell? The large overhanging eaves provide shade, further increasing the cool factor…”
This type of “sparkle” continues to work after the sale ends, turning into social content, newsletter material, and proof of your efforts. Brokers that publish their own magazines already understand this. The story of your home and its lifestyle becomes the marketing for your next home.
7. Calculations go well
For a product valued at $10 million, spending $1,000 on a lighter is only a fraction of the selling price. In trophy houses, attractive descriptions bring higher prices. It’s not a marketing expense. That’s underwriting the deal.
Of course, details still matter, and buyers won’t be able to move forward without important factors that impact the property.
But with so much information now readily available online, the sales pitch for creating a value proposition centered around story and lifestyle is stronger than ever. This is a differentiator that discerning buyers and sellers respect, and agents and brokerages at the top of the market already understand.
Fritz Causeby has been writing property descriptions and articles on commercial and luxury residential real estate for over 20 years. Connect with us on LinkedIn and Instagram.
