Gradually, Technology Shifts the Market and Sale of Luxury


Luxury means different things to different people. For some clients, it is a price point or location. For others, it is the speed or ease of a transaction.


Whichever definition of luxury defines your clients, all expect a high level of personalization, concierge service, and a focus on their experience. All of which technology is helping deliver.


Buyers can now dawn a pair of VR goggles and experience a space or home as if there. Virtual Reality, still relatively cost prohibitive, allows potentials clients to view homes in complete privacy from any number of miles away. Fixture selections or views can change with the tap of a button. These immersive experiences are speeding up buying decisions.


VR is the vehicle to market luxury and Smart Homes Devices and the “Internet of Things” is a reason to buy. Devices created purely to give us less to do around the house are popping up everywhere, from connected toilets to wifi lights. As a broker, knowledge of these devices, brand names, products, and services, is a growing expectation among the luxury clientele.


Luxury sellers and buyers have more data than ever before. Because these clients come into the market with a wealth of knowledge, they expect you to know MORE. Be prepared to discuss technology-driven marketing trends related to their price point and what smart home upgrades are essential when selling or buying.


The marketing of luxury properties and expectations of clients on both ends of the transaction will evolve with technology. One thing will not change — the timelessness of thoughtful service.