When it comes to selling luxury real estate, there’s a good way to go about it and plenty of not-so-good ways. That’s why you should be the most prepared you can be when you’re starting the selling process. You wouldn’t want to get a worse price than your house is worth, would you?
That’s why we’ve created this article for you with plenty of tips and tricks on how to best sell your luxury real estate. If you’re selling luxury real estate, these tips are going to be universal. Keep reading to learn more!
1. What’s the Price and Is It Right for You?
Whether your home is going for $100,000 or many millions of dollars, it’s crucial that you find the right price to sell your real estate at. It’s important that your luxury real estate is sold at a competitive price that’s going to get the most potential buyers coming in. This is completely dependent on the market you find yourself in.
You will need to work with your real estate agent to perform an in-depth analysis of your housing market in order to price the real estate at the best price.
2. How’s It Going to Be Marketed?
You will want to work with your real estate agent to determine what kind of marketing is going to be used in order to get those buyers coming in. Are you going to go the social media route? Or maybe you’ll use a more word-of-mouth oriented marketing plan. Or you could use print media and newspapers.
Your real estate agent will be able to help you determine what marketing mediums are going to be best for the community you’re trying to sell in.
3. How High Quality Will the Photos, Videos, And Virtual Tours Be?
With most of real estate buyers starting their search for houses online, it’s crucial that you have high-quality photos, videos, and virtual tours for them to browse through. If you put up with your listing without any of these or with low quality photos, you’re going to be in for a rough time in finding buyers.
Have you ever seen a product online that just had a blurry image of what you think is that product? Or no images at all? You probably went right away from that product and searched for another option. It’s the same logic when it comes to luxury real estate!
4. Is Now the Right Time?
You will want to work out with your real estate agent whether or not this is the right time to sell or not. The housing market can be pretty volatile, especially when it comes to the luxury housing market. You should be completely sure that this is the best environment in order to sell or if you should wait a couple of months before you put the listing up. Your real estate agent will be the most knowledgeable when it comes to these kinds of things.
5. Any Open Houses?
When it comes to open houses in the luxury home market, there’s a lot of confusion over whether they actually work or not. However, a general rule of thumb is that open houses do not work in the luxury market. Generally, this just brings in those who are curious about how the “rich and famous” live their lives and to check out what luxury real estate is actually like.
6. How Are the Lifestyle and Location Going to Be Portrayed?
With luxury, real estate, a huge part of selling the property is because of the lifestyle and location. You should put special attention on this one. How are you going to show off that luxurious lifestyle and let potential buyers know how great the location is?
7. Any Staging?
Staging is an important part of selling a luxury home. Make sure that you work with your real estate agent to properly set your home and make it seem cozy and luxurious. This is going to minimize the time your listing spends on the market and help to maximize the potential price you’ll get from it.
As mentioned before, when selling a luxury home, there’s a good way to go about it and a wrong way to go about it. Above, if you follow the tips listed, you’re going to be in good hands when you’re trying to get the best price possible for your luxury real estate.