There is no silver bullet when it comes to selling a luxury home. Instead, the process involves a series of strategic, calculated steps that will help get you through the experience. Before you get started, know this: The luxury home market is a different animal. It takes the right timing, the right pricing, and the right assistance to get everything ready to roll.
To help get you started, those strategic, calculated steps are a must. Here is a to-do list of items you can start pulling together to get your luxury home ready for market.
Selecting a Real Estate Agent
Stepping into the world of selling your luxury home is an exciting and perplexing journey. But making that decision doesn’t have to be intimidating. Finding a real estate firm that works with discerning buyers and understands the unique needs of the luxury real estate market, is key. An experienced, qualified real estate firm that understands the market and its trends can pay huge dividends.
Analyze Your Market/Set Your Expectations
In the most recent historic landscape for selling homes, the market took on a different vibe. Before you dive into the pool, get a feel for the market you are about to enter. What is available? What are the price points? What are people looking for? These are all valid questions to ask before setting a competitive price on your home. Also, who is in your buyer pool? Let the data do the work for you.
Timing is Everything
Along with setting your price and targeting potential buyers, timing is everything. Typically, homes move faster in the summer and spring—times that coincide with the start of the school year for families. The better weather also makes for better home showings and inspections, although online technology is allowing many homes to sell to buyers unseen in person.
It’s All About the Marketing
Putting your home on the market means you are entering into the world of marketing with your real estate team. With advances in technology (and the pandemic), people are searching for homes much differently than they ever had. Having your home ready for virtual viewings, social media posts, etc., means you have to market your home on the right medium to the right audience.
Getting Your Home Ready
With innovative marketing strategies comes great responsibility. Keeping your home in a constant viewing mode is critical. Taking steps to declutter your home will help create more space in your home, making it easier for potential buyers to imagine all the possibilities. Go through your belongings. Put items in storage. Optimize your space as effectively as you can. A real estate team that understands the luxury buyer/seller needs for security and privacy is important to making your home available but also secure.
Patience, Patience, Patience
Data, expectations, timing and marketing are critical. But perhaps nothing is more so than patience. How and when selling your luxury home are important steps in the process, it takes time. The simple truth is that non-luxury homes sell faster than luxury ones. The buyer pool for $1-plus million homes is a different, more calculated group. Be persistent, be proactive, but remain patient.
If you're looking to find your mansion or sell your luxury home in the Tampa area, our team of real estate professionals are ready to help make your dream come true. With more than 52 years in the business, we make it our mission to help every client find their new home. Let us "match" you with one of our team members today.
Call us today at 833.917.0676 or click here.
Posted by Smith & Associates Real Estate on