Industry Blogs

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Living the Dream

January 09, 2015
Industry Blogs | 2 minute read

Research finds builders and buyers sharing the spotlight.

When the news broke last month that “Lifestyles of the Rich and Famous” was being rebooted by Nick Cannon and NBC for a new generation, it brought back fond memories for many of watching the original 1980’s TV show that colorfully tracked the “champagne wishes and caviar dreams” of the world’s most boldfaced names. The guiltiest viewing pleasures were the guided tours of extravagantly appointed homes provided by the proud owners themselves, including Barbra Streisand, Sophia Loren, Burt Reynolds and Ricardo Montalban. Every week was a vicarious trip to Fantasy Island.

These days, of course, luxury homeowners don’t need Robin Leach and the like to showcase their homes. They’ll happily do it themselves.

Recent market research shows that luxury homebuilders and buyers share many common goals but one particularly strong affinity: both are motivated to show off their homes to broader and more captive audiences.

Leveraging the Trend

This seems a particularly relevant finding in the age of social media when outlets offering such exposure appear endless and interconnected. Facebook. Twitter. Instagram. Pinterest. LuxeHome Showcase. This is, of course, in addition to the proliferation of popular cable TV shows (“Mega Mansions”) and glossy magazines (“House Beautiful”) that continue to follow and feed the zeitgeist.

When you think about it, a luxury homeowner’s desire to promote, post or otherwise share a builder’s handiwork is really an invaluable opportunity to turn highly satisfied customers into prized marketing assets. It’s word-of-mouth with a walk-in closet and ocean views.  Consider the data.

  • In his book “Highly Recommended: Harnessing the Power of Word of Mouth and Social Media to build Your Brand and Your Business,” Paul M. Rand notes that 92% of respondents polled reported that a positive recommendation from a friend, family member or someone they trusted is the biggest influencer on whether they buy a product or service.

In other words, cultivating customer relationships can be one of the keys to continued success in the luxury home builders market.  We hear that. It’s one of the reasons ProSight Specialty Insurance created the LuxeHome Showcase. So that builders and homeowners alike can have a tool to champion their shared successes and even indulge their caviar dreams. Take a home tour now.