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What the very best agents DON'T do when marketing a premium property for sale

There is a considerable difference between estate agencies that deal with the mass market and those that deal exclusively with the premium market. In this article, CEO David Lindley explains what makes a premium agent different and why that can help you sell your premium home.
What the very best agents DON'T do when marketing a premium property for sale
I have been fortunate enough to work alongside some incredible agents who excel in the premium property markets and learn from what they do so well over many years...

There is, of course, no one 'right answer' for a successful formula to increase your market share in the premium market or any 'one-size-fits-all' approach to satisfy customer needs.

It is much easier instead to focus on what these superb agents and agencies DON'T do in the premium market to show which strategies result in success and which do not…

Here are three common traps or pitfalls the best premium agents avoid:

1) They differentiate their proposition.
'Professional Photos' or 'Featured Listings' on property portals aren't enough to properly differentiate a premium estate agency service from a standard one. Your property needs recognition that it has national significance. So, it is essential that your agent can offer a national proposition for the marketing and advertising of your home alongside the 'expected' tactics, like the portals offered by most traditional agents.

Regular advertising in national publications, P.R. opportunities in these newspapers, a national network of agents working alongside them, a national database of high net worth clients, and even international advertising outlets are all proven examples of how By Design agents differentiate from the competition.

2) They differentiate their brand
If I had a penny for every time I have seen an agency add 'prestige' or 'platinum' or similar to their brand in an effort to 'go upmarket', and it not work… I'd have a lot of pennies! You can't wrap the same chocolate bar in a different wrapper and expect people to pay more for it, and homeowners like you can see straight through this.

For the same reason, there isn't a 'Volkswagen Prestige', yet there is Audi or even Lamborghini (even though these are all cars from the same company); you need a premium brand to sell a premium home like yours.

3) They differentiate their service
Arguably, this is more controversial, but the best agents I have worked with have a personal one-to-one relationship with their client, right the way from Market Appraisal through to completion. Sometimes, even limiting the number of instructions or clients they take on to facilitate this level of service - the lowest number I have heard is 'no more than three families'. The vendor is not handed off from the valuer to a negotiator back in the office... and this is not to mention a tailored and careful launch to market.

Differentiation is key!

At By Design, our agents offer a differentiated, national proposition - impossible to beat. This is delivered in a differentiated brand, supercharged by a national advertising campaign and a team of other By Design agents working together to promote properties around the country. Our agents commit to ongoing training and development to help you deliver the best possible service.

To find out more, contact our team of By Design property experts or visit our website, www.ByDesignhomes.com


David Lindley
CEO at By Design

Image rights: TopGear