Finding the unicorns
Category From Our CEO
Hello everyone
With consumer demand for all sorts of goods and services having stabilised post pandemic and in the face of the rising cost of living, it's more crucial than ever now to know our audience and stay ahead of the curve in order to serve our clients well. And this is even more important when it comes to reaching luxury home buyers and tenants as we continue to expand our presence in this sector of the market.
Sales of homes priced at R20m and more account for only about 3% to 5% of the total number of home sales in SA each year. In addition, the luxury rental market, categorised as tenants paying R25 000 or more per month, only makes up about 1,2% of the formal rental market, according to the latest TPN Residential Rental Monitor.
Such consumers are thus a rare breed and usually not attracted by regular marketing means, so luxury sellers and landlords need to ensure that they work only with real estate professionals that really know where to find them and how to engage with them. It is also vital to understand that while quality stands out as the most important factor for the majority of luxury buyers worldwide, they will usually also look at the brand reputation of the seller or agent, especially when it comes to real estate.
Consequently, they will always prefer to deal with a company like Chas Everitt International, which has a track record of more than 40 years, is a member of the global Leading Real Estate Companies of the World (LRE) network, and advertises alongside other luxury brands on platforms that are specifically frequented by luxury buyers such as the JamesEdition, luxuryportfolio.com and Juwai, and is regularly featured in media read by top executives such as the Wall Street Journal, Mansion Global and the London Financial Times.
The JamesEdition, for example, was specifically created to connect luxury buyers and sellers worldwide, and showcases not only the best luxury real estate but also other luxury assets such as yachts, private planes and helicopters, collectable watches and jewellery and artworks across 120 countries - including the luxury and super-luxury SA homes that are on sale through Chas Everitt. With 2,4m visitors a month and 500 000 registered buyers, it is an extremely powerful marketing engine that helps us - and our clients in SA - to achieve the maximum possible exposure of our listings to potential buyers around the world, and the best chance of a successful transaction.
What is more, we understand as few other agencies do that the emotional and social aspects of a home purchase can be just as important for luxury buyers as the property itself, and that our success rests on being able to create strong personal connections with them that are absolutely centered on meeting their individual and specific needs.
This is completely beyond the traditional transactional approach to real estate, and its demonstrable effectiveness over the past few years, not just in luxury sales but across the board, is why we continue to attract top real estate talent and leadership to our company.
Quite simply, we have proven that positive outcomes in real estate are not dependent on the state of the economy or other exterior circumstances. They are, rather, driven by planning and taking action to build relationships with and deliver more value for every client. As a result, I'm looking forward to another great year!
Warm property regards
Author: Berry Everitt