Marketing, Vegas Style

Ron Feir, ABR, CRS, e-PRO, GRI, MRP, RSPS, SFR, SRES, SRS, is a REALTOR® with Century 21 Gavish Real Estate (offices in Pahrump & Las Vegas) Pahrump, Nev.

Tourists first arriving in the Las Vegas Valley can’t help but observe a sea of new tile roofing and neatly designed communities. Of course, this is in addition to the famous neon lights and massive destination hotel and casino signboards.

Combined with the world-famous sunny weather, affordable real estate, booming economy and no state income tax, purchasing property in Vegas may be the second thing on a tourist’s mind, after gambling. This is usually the first moment the real estate bug starts biting, or is it?

However, another type of tourist sees Las Vegas through a different prism , as a place of general excess, gambling, antisocial behavior and adult temptations. In other words, some people think, “Vegas is a nice place to visit, but I wouldn’t want to live there.”

Does this impression make Las Vegas real estate harder to sell? How can we structure our marketing plan to address both sides of the spectrum?

Tourists first arriving in the Las Vegas Valley can’t help but observe a sea of new tile roofing and neatly designed communities... in addition to the famous neon lights and massive destination hotel and casino signboards

The marketing plan

To successfully market to tourists, one must begin with a rock-solid but dynamic marketing plan. Realtors need to develop procedures for establishing strong relationships with influential managers that interact with tourists. Successful REALTORS® invent savvy marketing ideas that spread the word that they are the tourist’s Sherpa.

These agents are trustworthy and best-suited and well-positioned to meet or exceed clients’ goals. In a sense, agents create their own mini-tourism bureau by way of social media, websites, blogs, and real estate strategies.

Making contact and determining goals

Obviously, meeting potential buyers in person is the best scenario to have the opportunity to prequalify them and show properties. However, in most cases, the initial contact arises from a contact list after a potential client has returned home from Vegas. It is important to know buyers’ goals. Do they want a primary home, second home or investment property? What about product type? Do they prefer single family, condo, high-rise, mid-rise, resort style, rural, or age-restricted? How will they finance, through cash or a loan?

An area tour allows clients to see for themselves that communities away from the gambling/entertainment corridors are just as family friendly as in any other city.

Finding clientelelientele

Shyness is outlawed. It is important to establish relationships with hotel, casino, and other hospitality managers who have lists of potential contacts. The same applies with owners and operators of attractions, such as popular shooting ranges/clubs, raceways, equestrian centers, off-road scenic outfits and cycling tour companies. In addition, collecting and analyzing the latest data (visitor trends) from local chambers of commerce or visitors’ bureaus can be useful.

International buyers love Las Vegas. This category is a nonstop source of clients even during market downturns. It’s important to create alliances with other agents, escrow, lenders, and property inspectors who speak the key languages. Obtain marketing materials in the same key languages.

Time to tackle the elephant in the room

Is it harder get people to purchase Las Vegas property because of the adult entertainment scene? A segment of the population that has traditional values may never want themselves or their family exposed long-term to gambling (most supermarkets, convenience stores and gas stations have slot machines) and the Vegas entertainment scene.

Objections may be overcome by reporting that the Las Vegas Valley has many strong, master-planned family communities. An area tour allows clients to see for themselves that communities away from the gambling/entertainment corridors are just as family-friendly as in any other city. The NAR-published Economic Impact of Casinos on Home Prices analysis indicates that, as a result of casinos and hotels, antisocial behavior, vehicular and pedestrian traffic, transportation, airports, noise, lights, etc., can negatively affect property values in close proximity to these. Therefore, properties farther away from casinos and hotels may see positive impact due to job creation and the world-class entertainment environment Las Vegas offers.

These tactics for selling homes in a Las Vegas can be applied to any tourist-heavy area, such as Orlando. Tourists are dynamic, moving targets. They’re constantly on the move. If a marketing plan is robust and factors in key strategies, tourism can be a profitable niche to farm. •

International buyers require extra effort

Marketing, Vegas style

Tailor your marketing plan to sell a specific area