Community NewsCompany NewsIndustry News September 3, 2020

11 Tips for Selling Your Luxury Home

If you’re trying to sell your luxury home, you may need some ideas to find some interested buyers and get it moving on the market. Read these helpful tips for selling your luxury home.

 

  1. Work with a realtor who specializes in selling luxury homes. You don’t go to an orthopedic surgeon for an issue with your heart, so don’t ask a realtor with little experience in selling luxury homes to sell yours. It’s a whole different world, and you need to partner with an individual who has a proven track record and years of experience successfully navigating the luxury real estate market for sellers. Again, your pool of prospects is much small than those seeking an average family home. Our agency understands the intricate details and best practices of selling a luxury home, such as pricing, the neighborhood, and marketing.
  2. Use a professional stager. This is second only to a seasoned luxury market realtor (#1) because a veteran in selling upscale homes knows the exceptional value of a professional stager. You want to stage your home so potential buyers can picture themselves living there. Nowhere is this more true than in the luxury housing market where the homes are frequently full of customized features. A stager can highlight the unique features of your home view while at the same time not inundating buyers with your own personal style.
  3. Spend a few extra dollars for high-quality photos. “A picture is worth…” You know that one, and a high-end portfolio of photos of your luxury home can make it sell up to 32% faster than a house with average pictures. High-end photos grab buyers’ attention and tell so much more than descriptions in a listing. Also, have a video shoot for a virtual tour so that you can showcase the features of your home— and literally and figuratively put it in the best light. If you use run-of-the-mill photography and videography, potential buyers will know the difference and will develop an image of your home that is less than optimal.
  4. Create a “brand” for your home. When you look at # 11, this will ring a bell, and you’ll understand that you need to promote the distinct identity of your home to that target audience of potential buyers. Use a consistent and focused message through your promotion and marketing. One idea is to create an individual logo or slogan for your home that really provides the message you want your target group to hear.
  5. Zero in on what makes your home stand out. Similar to # 4, you and your luxury home realtor (#1) must distinguish your home from other properties in the area and at or near the same price point. Do this by emphasizing the high-value features and elements of the home that make it unique and special. Be sure to promote these in your high-end photographs and virtual tour (See # 3).
  6. Let your buyers know if your home is ready to move-in. Luxury buyers usually aren’t seeking a home that needs work, so if your luxury home is “move-in ready” be sure to emphasize that it’s in turnkey condition. This can be a major selling point, especially if a well-known developer or interior designer has already worked on your home.
  7. Lighten up. Your professional stager (#2) will suggest that you allow in plenty of natural and that you show off an unobstructed view. 
  8. Just say no to the public open house. Think exclusive! That means setting a tone that eliminates the all-day Saturday public open house and instead offers appointment-only viewings. This allows you to tell buyers that it’s an “honor” to view your luxury home, and there’s also the practical reason of not wasting time setting up your home for an open house that will probably be attended by “looky-loos” who are just curious about what your house looks like inside.
  9. Sweeten the deal. Ask your luxury home realtor (#1) how you can add value to your value proposition, especially if there are other luxury homes for sale in the area with similar features. Adding furniture like a dining room set or another bonus is an excellent way to distinguish your home a bit more from the competition.
  10. Patience is a virtue. Know that selling a luxury home may take longer than selling a non-luxury home. As you’ve been reading, there are many different elements that go into a luxury home sale that are not part of the average home sale. But you’re going to use these tips to maximize your home’s appeal to the right audience and close the deal!
  11. Become an FBI Profiler? Well, at least make a psychological profile of the buyer. This tip goes hand-in-hand with several others, like # 4, 5, 7, and 10. You and your luxury home realtor (#1) should understand exactly to whom you’ll be marketing to when trying to attract high-end clientele. That’s a finite group, so make sure that you are targeting those people. Whether it’s the fact that your home is in an extremely desirable gated community or near a PGA golf course or elite tennis club, let them know what you’re offering.

 

Takeaway

You and your luxury home realtor should have a firm understanding of what distinguishes your home from other luxury properties in the area and promote those strengths. These tips will help you with the successful sale of your luxury home.

(Featured Photo: 1117 Abbeys Way | Harbour Island)