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6 Luxury Real Estate Trends to Keep an Eye On
From security and privacy measures to wellness amenities, here are six luxury real estate trends for marketers to take note of.
Smart home technology, high-level amenities, and emphasis on security — those are just some of the luxury real estate trends that will shape the market this year and beyond.
Here’s what you need to know, boiled down to a 5-minute read.
Overview of the luxury real estate market trends in Boston
The luxury real estate market is changing rapidly due to technology that allows for increased consumer mobility. More and more buyers are able to tour homes virtually, giving them access to properties around the clock. Affluent buyers have started to expand the ownership of property beyond their historical locations, branching into new areas and even across state lines.
And let’s not forgot about millennials. While Baby Boomers still possess more current wealth, younger buyers continue to grow tremendous spending potential. That is why they have become a crucial market segment for luxury real estate agents.
Luxury real estate trends to look for
Similar to other industries, the real estate world is driven by demand. In fact, the nationwide average selling price for luxury properties increased towards the end of 2018 despite increased mortgage rates. But several factors remain constant: the trends and features that come with high-end homes. Here are the most popular trends.
1. Smart homes
Connectivity and convenience go hand in hand in luxury real estate. A home equipped with the latest in digital technology is a statement of wealth and modernity. The smart home does not only benefit the environment but deliver financial benefits to the owner as well. For all the developments with smart locks, smart thermostats, and more, we are only seeing the beginning of the smart home revolution.
2. Advanced security
The affluent home buyers spare no expense to ensure their lives and items remain secure. From hiring architects who conceal houses to scraping their properties off the grid, this market segment invests heavily in security. And more advanced features and products will hit the market in the next few months.
3. Focus on privacy
In addition to security, buyers at this price point also value privacy — and they are willing to spend big bucks to achieve that sense of complete seclusion. If you acquire a home for $5 million, you do not expect it to be visible to neighbors or have anyone from the street walk to your front door. Buyers want homes with gates, hedges, and walls, but not that big chain link fence. Aesthetically pleasing privacy features add a different layer to it.
4. Guest suites
Most luxury buyers are embracing the trend of guest suites. The suite does not have to be detached. It can sit right off the garage downstairs or be equipped with an en-suite bathroom to be used by visiting family or friends, as well as the live-in maid or nanny. Buyers also prefer extra space and rooms for home offices, workout rooms, or a gym.
5. Swimming pools, particularly smaller ones
A pool is one of the key expectations in any luxury property. However, few people want the pool to take up the entire backyard. Instead, home buyers may opt for a smaller plunge pool or a “glorified jacuzzi.” With the construction of big homes on small lots, the trend makes perfect sense.
6. Amenity-rich homes
Customized libraries, wine cellars, yoga roof decks, serenity spaces — affluent buyers have moved beyond private gyms. And developers are responding accordingly, adding wellness amenities to new projects. Eco-friendly features have also begun to play a more significant role with buyers specifically searching for LEED–certified buildings.
What trends have you noticed in luxury real estate?
Related posts:
- Using Content Marketing to Market and Sell Luxury Real Estate
- The Role of Social Media in Luxury Real Estate Marketing
- 5 Luxury Real Estate Brands that Use Content Marketing to Sell Property
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Video: SEO Basics – Everything Your Real Estate Brand Needs to Know
SEO helps your website rank higher in search engine results pages. Here are the SEO basics to get your website performing better and in front of your target audience.
Highlights:
- SEO stands for search engine optimization — that much has stayed the same. It refers to techniques that help your website rank higher in search engine results pages.
- SEO works by optimizing a website’s pages, conducting keyword research, and earning inbound links.
- To rank well in the long term, build your SEO marketing strategy around topics, not keywords.
Video transcript:
I’m Jennifer Yim and today’s topic is SEO. SEO seems pretty straightforward. You pick a few keywords and your page is magically optimized for SEO, right? Not quite.
People seem to understand the basic principles of SEO, but a lot has changed in the last decade. Let’s take a look at the basics to get your site ranking higher.
What is SEO?
SEO stands for search engine optimization — that much has stayed the same. It refers to techniques that help your website rank higher in search engine results pages. This makes your website more visible to people who are looking for solutions that your brand, product, or service can provide by search engines like Google, Yahoo, and Bing.
What hasn’t stayed the same are the techniques we use to improve our rankings. This has everything to do with the search algorithms that these companies constantly change.
How does SEO work?
SEO works by optimizing a website’s pages, conducting keyword research, and earning inbound links. You can generally see results of SEO efforts once the webpage has been crawled and indexed by a search engine.
There are a ton of ways to improve the SEO of your site pages. Search engines look for elements including title tags, keywords, image tags, internal link structure, and inbound links.
Search engines also look at site structure and design, visitor behavior, and other external, off-site factors to determine how highly ranked your site should be in their results pages.
To rank well in the long term, build your SEO marketing strategy around topics, not keywords. If you do that, you’ll find you can naturally optimize for important keywords, anyway. Understanding your target audience and what interests them is key to attracting relevant visitors to your website through search engines.
For more tips on improving SEO and building your digital marketing strategy, visit us at froneticsrealestate.com.
Related posts:
- The Role of Social Media in Luxury Real Estate Marketing
- 4 Real Estate Blogging Tools You Should be Using
- How to Use Guest Posting as Part of Your Content Strategy
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Why You Should Always Respond to User Reviews
A new study shows companies that respond to user reviews get better ratings overall.
It’s not really news to point out that buyers and renters are likely to consider online reviews when making decisions about properties. In fact, more than 80% of Americans seek a recommendation when making a purchase of any kind.
All this is great for real estate — when the reviews are good. But stay in business long enough, and a few bad reviews are inevitable.
So what do you do when reviews go bad?
A brand new study from Harvard Business Review (HBR) shows that businesses that respond to reviews get better ratings overall. This means that bad reviews don’t necessarily spell disaster — but they do mean that you should incorporate a response plan into your overall marketing strategy.
Replying to reviews is a important part of online reputation management, which is especially crucial in the real estate world, where companies live and die by their reputation.
How does responding to reviews improve your online reputation?
To examine this question, Assistant Professor of Marketing at University of Southern California Marshall School of Business Davide Proserpio and Assistant Professor of Marketing at Boston University Questrom School of Business Giorgos Zervas looked at tens of thousands of hotel reviews and responses from TripAdvisor.
What they found was that “when hotels start responding, they receive 12% more reviews and their ratings increase, on average, by 0.12 stars.” While 0.12 may not seem like a lot, in the scale of TripAdvisor’s 5 star system, where ratings are rounded to the nearest half star, it has a significant impact on customers’ perceptions.
Proserpio and Zervas found that “approximately one-third of the hotels we studied increased their rounded ratings by half a star or more within six months of their first management response.”
Why is it that the hotels started to get more and better reviews when management started responding?
The researchers examined every facet of the data to rule out other factors that would undermine causality, and found that, in fact, “improved ratings can be directly linked to management responses,” rather than improvements made to facilities or services.
To explain it, the researchers make the analogy of eating at your favorite restaurant, and your meal arrives late. You complain to your dinner companions, but when the manager checks in seconds later and asks how everything is, “for a moment, you consider complaining, but instead choose to avoid confrontation and focus on enjoying the rest of your meal.” Essentially, by humanizing your presence on review sites, you discourage potentially awkward online interactions.
The researchers conclude, “While negative reviews are unavoidable, our work shows that managers can actively participate in shaping their firms’ online reputations. By monitoring and responding to reviews, a manager can make sure that when negative reviews come in — as they inevitably will — they can respond constructively and maybe even raise their firm’s rating along the way.”
Related posts:
- Social Media Can Be a Strategic Weapon in Real Estate Marketing
- Using Online Virtual Tours to Sell and Lease Property
- Why You Should Benchmark Real Estate Marketing Against Competitive Properties
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4 SEO Tips to Improve Your Real Estate Website Ranking
Search engines are constantly changing, but these 4 SEO tips will ensure marketers can improve their real estate website ranking.
Highlights:
- Google’s primary focus is delivering the most accurate information to meet user’s searches.
- You should start thinking about the major themes of your content (your property!) and then build posts and website pages to support them.
- Reviews are an easy (and free!) way to help boost your real estate website ranking.
More and more marketers believe that SEO is dead. So much so that 210 people search “is SEO dead” every day. But we do not subscribe to this mentality.
93% of all online experiences begin with a search. And why shouldn’t they? The internet is full of useful information. So there’s no reason that your website shouldn’t be at the top of the search results. But as the enormous amount of content being published daily continues to grow, it has become harder and harder to rank on search engines.
Google’s algorithm to rank websites is constantly changing. And for good reason — people are changing, too. As the needs of users evolve, so does Google’s need to stay ahead of the curve. As the leading search engine in the world, Google’s primary focus is delivering the most accurate information to meet user’s searches.
So how do you improve real estate website ranking? In other words, how do you get your real estate website, and more importantly, your properties, to the top of the search results page? How do you deliver accurate, informative content that Google deems worthy? Here are four tips to help boost your SEO ranking.
4 SEO tips to improve your real estate website ranking
1. Keyword research
People are now searching with a phrase or question rather than a single term. In response, search engine development has focused on natural language processing — meaning search engines now analyze phrases as a whole rather than a single keyword. That essentially means they evaluate a site’s content regarding an entire topic rather than its use of a particular word in order to deliver the best answers to users’ queries.
To improve your SEO ranking, stop trying to rank for a small set of keywords. What’s important is broad visibility across a topic. You should start thinking about the major themes of your content (your property!) and then build posts and website pages to support them.
2. Optimize for mobile
In 2019, mobile traffic accounted for more than half of internet traffic, and that percentage is growing. Google reported that more searches take place on mobile devices than on desktops. In response to this trend, Google’s algorithms rank mobile-friendly web pages higher in search results than desktop pages.
93% of home buyers start their search online. And since we know mobile traffic is growing at a rapid pace, it’s imperative your website be optimized for mobile use. Some easy ways to optimize for mobile include:
- Utilize website design specific to mobile
- Make sure pages are high speed
- Minimize pop ups
- Don’t block CSS, JavaScript, or images
3. Review management
90% of consumers read reviews before contacting a business and 72% of consumers will take action only after reading a positive review. If you’re trying to gain exposure for your property, start by using the positive reviews of other residents and clients.
Late last year, Darren Shaw of Whitespark released the findings from his annual Google Local Rankings Survey. The survey found that reviews accounted for 15.44% of how Google ranks a local business.
Missing an abundance of reviews? Just ask! If clients have expressed their appreciation for your services, don’t be afraid to ask them for a positive review on Google. These reviews are an easy (and free!) way to help boost your real estate website ranking.
4. Video
We’ve been talking about the benefits of video for a while now. Having video on your landing page will robustly improve your SEO. Video increases conversion rates, improves bounce rates, and boosts overall time on sites.
Search engines use bounce rates to rank pages — a low bounce rate and high user retention rate are indicators of strong content and high relevance to your perspective buyers. Consequently, Google is strongly emphasizing these metrics in its ranking algorithm. Video keeps users on your site better than just about anything else and is therefore one of the most effective ways to boost SEO.
Need more tips to boost your real estate website ranking. We can help! In fact, we’d be happy to do it all for you.
Related posts:
- The Role of Social Media in Luxury Real Estate Marketing
- 4 Real Estate Blogging Tools You Should be Using
- Infographic: Statistics that Prove Why Your Real Estate Marketing Needs to Include a Blog
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5 TED Talks for Real Estate Marketers
Need a little inspiration? Check out our top 5 TED talks for real estate marketers.
The popularity of TED Talks seems to have increased recently. A decade ago, the lecture series focused on technology, education, and design wasn’t a household name. Today, the number of views totals well over 1 billion.
TED Talks can be inspiring and full of useful information from thought leaders in all aspects of the field. Here are 5 that we think real estate marketers should watch right now.
5 TED Talks for real estate marketers
Co-founder of Fundrise — an investment platform for creating a simple, low-cost way for anyone to access real estate — Ben Miller discusses the role technology will play in how people invest in real estate in the future. He offers his perspective, gleaned from 15 years in real estate and finance, in which he has acquired, developed, and financed more than $500 million in property.
You may have heard the phrase “The Golden Circle,” coined by Simon Sinek. It starts with the question “why?” and examines the emotional core of what makes employees and customers buy into a company. In his extremely popular TED Talk, Sinek discusses the connection between The Golden Circle, marketing, and consumer behavior — a must-watch for all content marketing professionals.
Prolific author and marketing guru Seth Godin offers his insights about creating remarkable stories. He posits the idea that when it comes to getting attention, bad or bizarre ideas are more successful than boring ones. Ultimately, he advocates for a tailored, specific message spread passionately to those who want to listen.
Gunnar Branson is the CEO of the National Association of Real Estate Investment Managers. His TED Talk applies Moore’s Law (which predicts that technology will get exponentially smaller as it advances) to real estate. He predicts that the physical space we live, work, and play in will transform in front of our eyes, and discusses how those changes will impact the real estate market.
This one is good for the soul! Author, scholar, and speaker Kio Stark says, “When you talk to strangers, you’re making beautiful interruptions into the expected narrative of your daily life — and theirs.” Her talk explores the benefits of pushing through discomfort with strangers, and embracing what can become profound moments of genuine connection. It’s an inspiring listen for real estate marketers, in a field that’s all about connecting and telling a story.
What TED Talks for real estate do you recommend?
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- 10 Social Media Statistics for Real Estate Marketers 2018
- 4 Real Estate Marketing Trends 2018
- 10 Must-Follow Blogs for Real Estate Marketers
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