Top 5 ways how luxury developers attract buyers

A luxury seller is quick to notice your lifestyle. This helps him understand your taste, choice and the kind of money you would be willing to spend. Magicbricks reached out to some realtors to understand their tactics.

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The developer knows you

Rajesh Prassana, broker at Amar Hind Properties in Bangalore says, “Real estate is no different from a textile shop or any other trade. It requires a lot of client facing, a lot of sales. It becomes important to know the pulse of the buyer. Once the developer knows your taste, it becomes easier to sell. It is relatively easy to sell you a dream home if your budget, current living style and preferences are clear. For example, brokers and developers need to know whether Rs 1 lakh difference would be a strain on your finances. It is easier to pitch a property that befits your lifestyle.”

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Strategies

Heard of healthy scheming? Sarthak Lahoti, a city-based consultant feels experience is the key. “Luxury buyers bank on the neighbourhood. Anyone paying a lot of money wants his neighbour should be of the same status. While most buyers like to believe that luxury buyers are broad minded, it is not so. It is about aspirations. To have a hotshot in the same locality as yours adds to your value as well.” Additionally, if a property is close to a celebrity’s house or prices have appreciated significantly, these would be used as a sales pitch.

Demographics matter. Trend watchers say that different age groups have different motives. “When you are young, you invest small. As your salary increases, end-use might be the motive and therefore bigger and better houses become the choice. Both are targeted accordingly,” says Vaneet Seth, consultant with Money and Homes in Delhi.

Being talked about

To be able to sell, it is important to be saleable. This is why most realtors publicise themselves as much as possible. Bangalore-based Arpit Agarwal of City Realty says, “Developers are becoming more visible now in terms of social media ventures, posting properties on real estate portals, calling in celebrities to enhance brand name and credibility or taking to innovations. This is why developers pitch their projects as “the first smart home”, “the first integrated township” etc.    

Anything that is talked about becomes familiar. Such initiatives help advertise properties even through word of mouth. Other than this a large sales team who maintains direct contact with buyers, e-mails and updates (sometimes spams) is also a way to remain the talk of the town.

Schemes & discounts

Everybody loves a gift or a discount. “The fact that you saved 2 per cent on a purchase or that you are getting a gold coin, a free car parking, a car, free furnishing or buy back guarantee is always appealing. It doesn’t matter if the cost of the gifts seems to be added to the price of the property,” smiles Seth. “Usually developers give group booking discounts to buyers. In a stagnant market, freebies were widely heard of. Similarly, the festival season is an added reason to lure buyers,” adds Seth.

Client care

If a firm extends help - in terms of maintaining a website that documents construction updates, encourages after sale meets regarding discrepancies in clauses etc, the firm has already won a lot of hearts.

Chandan Singh of Delhi-based NCR Realty says, “Brand management starts after the sale is over. Many realty giants have established their base only because they were able to lure buyers with a commitment that they would address any problem that may crop up. Similarly, many big developers have lost their image because they failed to stick to timelines, original maps etc.”

Source:http://content.magicbricks.com/industry-news/delhi-ncr-real-estate-news/top-5-ways-how-luxury-developers-attract-buyers/80310.html