Skip to main content

Delivering a luxury experience in a tech-driven world


As the real estate industry continues to evolve, the importance and value of delivering an exceptional client experience has never been higher.

Yet, every day seems to bring a new entrant to the market that claims to provide better, faster transactions — without the need for human touch.

But real estate will always be deeply human with great service marked by standout personal service. With all of the noise in the market today it has never been more important for real estate professionals to deliver a luxury experience to every client they work with.

However, as the real estate industry has evolved, so has the definition of luxury and what it means to deliver a luxury experience.

That said, there are four key concepts real estate professionals working in our fast-changing, modern industry should understand and apply to ensure they provide luxury service that will never go out of style.

Luxury is personal

It’s important to recognize that the concept of luxury in the modern real estate market is no longer restricted to ornate properties and high price points.

Modern luxury service is for every real estate buyer and seller. Providing luxury service means something different for each client, be it time, convenience, privacy, location — the list goes on.

With as many meanings of luxury as there are clients, real estate professionals must adapt their marketing and services to match each client’s needs. Today, luxury is all about personalization — we all have to dive deeper into understanding our clients and provide them tailored service.

If technology can replace it, it’s not luxury

There was a time in the not-so-distant past when having a car service pick you up whenever and wherever you wanted was considered luxury. Then Uber came along, bringing on-demand transportation to the masses.

Examples of technology similarly democratizing a previously exclusive experience exist in many industries, and real estate is no exception.

Amid this tech-driven change, real estate professionals should keep in mind that technology doesn’t equal luxury — it’s a tool to deliver luxury experiences, but no more critical to luxury than great marketing materials, timely, clear communication and friendly manner.

To stand out, agents must lead with personalization, using technology to enhance rather than define each client’s individual experience.

Buyers want an expert

Technology has enabled prospective homebuyers to do their own in-depth research. However, even the most informed buyers are looking for real estate experts to advise them through the homebuying journey.

For most people, buying a home is one of the biggest investments they will make. Real estate professionals must add value to clients whether it be providing access to coming-soon and off-market listings, deep neighborhood knowledge, community concierge services or the reassurance of a seasoned expert guiding them through the process.

In short, real estate buyers and sellers value the assurance that comes with working with a stellar agent.

Luxury will continue to evolve

One thing we know for sure is that technology will continue to advance and change. As it does, agents need to hone timeless skills that will never go out of style.

No matter how technology changes the industry, real estate professionals must focus on giving each client a tailored, white-glove experience. The attention to detail, personalization, and added value that we bring to each client interaction creates a luxury experience.

Technological disruption has many industry professionals scrambling to redefine themselves. However, changing your brand or services in response to every new technology is a losing game, and ultimately weakens your brand.

By focusing on providing personalized service and a luxury experience will allow real estate professionals to succeed no matter the technology and new models that emerge around them.

Engel & Völkers is a global real estate company that delivers a fresh approach to luxury service through a focus on creating a bespoke, white-glove client experience at every stage of the homebuying and selling process. Engel & Völkers operates over 150 shops with approximately 2,800 real estate agents in the Americas who are part of its global network of 10,000 agents in 34 countries.


Delivering a luxury experience in a tech-driven world curated from Inman

Comments

Post a Comment

Popular posts from this blog

Vacation rental company Vacasa buys Sterling Resorts

Vacation rental management tech startup  Vacasa  isn’t slowing down its ambitions to conquer the market: this week, it announced that it has purchased Sterling Resorts, a vacation management company on Florida’s Gulf Coast. Sterling has changed hands before: it was  bought by Pacifica Companies in 2015 and currently manages 450 homes. Now it will become a part of Vacasa’s effort to expand its presence in vacation destinations such as northern Florida, where Sterling is based. At the time of this latest purchase, Sterling’s home inventory was  down from 585 properties in 2015. Vacasa has raised more than $200 million since its launch ten years ago. Founder Eric Breon said he was motivated to start the company after struggling to find a satisfactory management solution for a cabin belonging to his wife’s family on the Washington coast. Now Vacasa seeks to provide rental property owners with “a seamless experience…through innovative technology and local staff,” that give them
Post a Comment
Read more

In An Era Of WeWork, Co-Working Space NeueHouse Sits Above The Fray

NeueHouse CEO Josh Wyatt Seuss Moments In today’s cluttered co-working landscape, it can be hard for companies to makes themselves heard over the din. Elevated co-working space  NeueHouse  wants to create an unparalleled experience for creatives through elevated programming and outstanding design. NeueHouse describes itself as “ a private cultural and collaborative space for prominent creatives, artists and entrepreneurs,” with current locations in Los Angeles and New York. In November, following an announcement of $30 million in funding , the company announced Josh Wyatt as its new CEO. Wyatt is a veteran of the hospitality industry, having co-founded Generator  in 2007, a chain of culture-focused hostels targeted at millennials, before moving on to Equinox to head the fitness brand’s hotel developments in New York City. Forbes interviewed Wyatt to talk about creativity, design, the gun threat incident at NeueHouse New York, and why he isn't phased by his "800 p
Post a Comment
Read more

Could Ken Griffin's Penthouse Purchase Cost NYC Real Estate Buyers Millions?

'The Billionaire's Bunker' at 220 Central Park South is pictured on January 24, 2019, in New York - Hedge fund billionaire Ken Griffin has completed the purchase of a four-story penthouse in the building for $238 millionm- the most ever paid for a home in the US. The building is a residential skyscraper that is currently under construction. (Photo credit: TIMOTHY A. CLARY/AFP/Getty Images) Getty A 2014 bill that aims to impose an additional tax on part-time New York residents—dubbed the “pied-a-terre tax”—has risen from the dead, largely in thanks to the recent record-breaking Central Park penthouse purchase by billionaire Ken Griffin. Griffin, worth an estimated $11.7 billion and No. 45 on the Forbes 400 , reportedly bought the $238 million-dollar apartment “as a place to stay when he’s in town,” according to his representatives. The purchase drew widespread attention to the financial losses that part-time and foreign property owners can cause the city. Bec
Post a Comment
Read more