Bradley Ransome is a real estate developer in downtown Raleigh, NC. With investing and marketing a project, an endorsement from a high-profile celebrity or influencer can boost showings and sales. In the following article, Brad Ransome explains the role celebrity endorsements play in real estate marketing.
Celebrity endorsements create a valuable selling point for any product or service, including real estate. Having a celebrity throw their name on a project isn’t enough to push it across the sales finish line, though. Ads need strategic development and sharp marketing to make the endorsement worth it.
Real estate celebrity endorsement deals require proactive integration into an already existing marketing strategy. It is important that the reputation of that celebrity aligns with the real estate company’s views, so choosing the right influencer is a pivotal step according to Bradley Ransome.
There are many steps to the celebrity endorsement process, but it can be worth it for convincing buyers and investors alike.
Celebrity Endorsements in Real Estate
Netting a celebrity can boost a residential real estate’s marketing power significantly. Commercial real estate may need to do a little more legwork in order to make the most of a celeb cameo. The reason for this is investor involvement.
Brad Ransome says that investors need to know that they’ll make enough returns on a real estate project they’re backing. They’ll need plenty of incentives to keep their interest. A celebrity endorsement can help or hinder this process.
On one hand, celebrities get the consumers attention. It turns heads and can turn sales – which is good news for an investor. Having an influencer directly investing can also incentivize further funding. It looks good for the real estate project, and for the investors backing it to be paired with someone influential.
A celebrity endorsement won’t be enough to fully sway a choosy investor. Specifically, an indirect endorsement – one where the celebrity is not involved in the sale – doesn’t have enough backing power to make an investor commit.
Incorporate Celebrity Endorsement into Existing Marketing
Though an endorsement is great, Bradley Ransome says that it cannot be the only foundation a real estate project’s marketing is built on. There should be the usual campaigns and advertising that would already be involved in getting the word out.
Celebrity endorsement in real estate should be the cherry on top of a well-crafted marketing campaign.
How To Obtain Celebrity Endorsements for a Real Estate Project
• Through An Agency
Bradley Ransome says real estate businesses that need to add a bit of star power to their projects can get in touch with a casting agency. The agency connects their points of contact with celebrities whose rates and level of influence align with the project.
Agencies will charge an additional fee for booking a celebrity, which should be factored into a project’s overall budget. Additionally, they may not have access to more highly popular names, who usually work with labels or their own private agencies.
• Via Networking
Networking is something that will need to be done over a long period of time. Meeting the right connections and using those connections to enhance the network of real estate PR. Attending events, establishing contacts, and maintaining correspondence will help strengthen connections to influencers.
• Direct Contact
Brad Ransome says that if working with an individual who influences through YouTube, Instagram, or TikTok, direct contact may be the easiest route to netting a celebrity endorsement for a real estate project. They’re usually less expensive than an entertainment industry professional, but not without their share of influence – it is in the name, after all.
Bear in mind that influencers should be aligned to the audience that a real estate company needs to reach. Influencers who are connected to younger audiences, like teens and college aged demographics, might be valuable for some commercial projects. However, residential real estate won’t be interesting for those who aren’t ready to buy a home.
Celebrity Endorsements Should Align with A Project’s Point of Views
When celebrity contact is engaged, it’s important that the connected party will add value to the real estate project’s vision states Brad Ransome.
Celebrities who are steeped in controversies may alienate buyers — and investors. Ones with divisive sociopolitical opinions will divide investors as well. Some may be further swayed by a point of view, while others will be turned off.
Real estate groups that want to beef up their marketing with a big name have the avenues to do so through agencies and networking. However, they should consider the reputation an influencer will bring with them, and how an investor may feel about the collaboration.