Despite the numerous challenges Los Angeles currently faces amid the COVID-19 pandemic, a weak housing marketing is not one of them. While the luxury market did see a brief slow down at the beginning of Q2 due to the citywide lockdown, stock market crash and uncertainty regarding federal economic policy, June saw it roaring back to life as many locals and transplants looked to relocate.
Hilton & Hyland alone represented 31 sales priced $10 Million and above by the quarter’s end. A rate on par with the firm’s past two record-breaking years.
“If buyers in the high-end market are looking at a good price for a property — combined with a good loan — that’s a deal. There are definitely some more big sales coming.” said agent David Kramer in a recent interview with the Los Angeles Times.
With new market conditions came new marketing strategies. With temporary halts on printed materials and publications due to lockdowns, contact tracing and staggered reopening schedules, agents and brokers were forced to adopt new ways to reach potential clients and interact with existing ones.
“I’m very proud and grateful that our team at Hilton & Hyland has remained intact as we continue to work remotely,” said marketing director Ed Leyson. “We’ve seen a major increase in our online traffic whether that’s social media, direct search or e-mail marketing.”
In the past five months since the March lockdowns, Hilton & Hyland has seen an over 100% increase in impressions and views on video content compared to the previous period. Upscale video productions and interactive 3D floor plans offer buyers the best alternative to an in-person showing.
Leyson says “Our main objective is to always stay flexible and continue to adapt to audience behaviors to best serve our clients.”
On social media alone, Hilton & Hyland saw a whopping combined 346% increase in engagement on Facebook and Instagram, which helped contribute to a robust 65% increase in web traffic. According to CNBC, as of May 29th, Zillow had already seen a 40% increase in searches on its own platform.
This major increase in digital response indicates that while potential buyers may be going out less, they are still house hunting with keen interest.