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Safety, status big selling points in luxury market

Part 1: Marketing to the ultrawealthy

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(This is Part 1 of a three-part series. Read Part 2 and Part 3.) What does it take to market a $20 million property? How would you market a $135 million listing? Panelists at the recent Inman News Connect High Net conference in Miami shared what it takes to market to the wealthiest buyers in the world. Surprisingly, many of the same strategies work at virtually all price points. To sell to the luxury buyer, you must tap into the buyer's "culture code." This code varies from country to country. According to Jurgen Klaric, CEO of Mindcode International, "Forget about location. Marketing to the ultrawealthy is all about niche marketing and appealing to the factors that anchor luxury in the buyer's country." Clotaire Rapaille, a marketing consultant to numerous Fortune 100 companies, also emphasizes the importance of being "on code" when you work with buyers and sellers. Rapaille's new book, "The Culture Code," identifies what's on code for Americans. Klaric's work addresses what matt...