Tips for Selling a Luxury Home or Estate

Luxury homes are defined as ones that are valued within the top 10 percent of properties on the local market. Luxury homes are known to be considerable in size, located in prime areas, constructed and finished with high-end materials and designed with uncommon architectural details and exceptional amenities. The real estate market tends to change when selling luxury homes because prices are at a higher rate. The more money a property is listed for, the smaller the buyer pool becomes, which means that you need a good realtor who can help you get your property sold.

Pricing it right

Pricing is such an important role when it comes to selling luxury homes because you are going to be targeting as well as appealing to a different subset of buyers. These buyers are willing to spend some money, but they have high expectations for what they will get as well. If you over price your property, chances are it will be hard to land a buyer. Pricing it at fair market value value is important because buyers can usually negotiate with you if it is near a price that is reasonable to the property. If it is overpriced, it will reach an ever narrower pool of buyers.

Working with a realtor with experience in the luxury market

This is one of the most important things you can do as a seller. Find a Realtor with proven experience and success in navigating luxury markets. All real estate agents specialize in something, so be sure to seek an agent that knows the ins-and-outs of selling a luxury property, especially one that is good at advertising and finding the right process. United Country has numerous knowledgeable agents that have sold luxury homes for many years who would be happy to help and can guide you in the right direction.

Staging the home

Another crucial aspect to selling a luxury property is staging the home in a way where buyers can picture themselves living there. This is true even in an average home, but especially in a luxury estate because these homes are often completely customized to individual tastes. You don’t have to strip the home down where it is completely bare, but give it a look that is different from your own style so buyers can see the potential it has for their own tastes. Your realtor will also know the luxury market and can  provide tips to stage your home specifically to your pool of buyers.

Quality photos

Getting high quality photos is an important step in getting your luxury property sold to a buyer. Most likely, your buyer or pool of buyers will be looking from advertisements, social media, catalogs and magazines. Decent photos are not going to cut it for a luxury style property. To get buyers interested, you will need to invest in high quality photos either from your realtor or a professional photographer. Your realtor will be able to recommend a photographer or someone who will be able to get the job done right. In addition to excellent still photos, step up your game by also adding videos and a virtual tour of the property. This will bring your luxury home to life and will also help buyers get a more real sense of the house. Due to COVID-19, many people are still weary of meeting with people or heading into public places, so this gives individuals the opportunity to view the home without having to leave the comfort of their personal space.

Marketing

When it comes to selling a luxury property, a yard sign or an MLS listing shared to your friend group on Facebook won’t cut it. Fortunately, experienced realtors will be able to promote your luxury property to get exposure all over the United States and target specific buyers who are looking more in the luxury market.

Forget the public open house

Due to the COVID-19 pandemic, you might not be considering having an open house for obvious reasons, but especially when selling a luxury property, you need to cultivate an air of exclusivity. Make appointment-only viewings a priority when selling a luxury home so people who are serious about buying the house will go the extra mile to see it. The problem with having an open house for a luxury property is that it will attract a lot of people, but mostly people who want to see what the interior of the home looks like, not people who are actually interested in buying it. The benefits to having an appointments-only policy is that you make the buyers who are interested in seeing that the property is a privilege and you avoid wasting time showing off your property to non-buyers.

Location

Every luxury property is located in a different area, but make sure to highlight what state, city and town it is. Buyers are looking for specific places, so be sure to highlight if the home is in the mountains, in the countryside, by a waterfront, in a small town, in a big city, near tourist attractions, have lots of acreage and more. Call attention to what makes your location special and how any buyer can utilize that area for their benefit.

Bottom Line

If you are interested in buying or selling a luxury home, premier estate, luxury ranch, vacation home or waterfront property, visit www.UnitedCountry.com. United Country Real Estate offers an exclusive and diverse selection of listings for these properties throughout the United States.

We have realtors ready to help you wherever you are at in your property journey.

Article by:

Sydni Miller, journalism major at University of Missouri

Sources:

https://www.moving.com/tips/9-tips-for-selling-a-luxury-home/

https://www.homelight.com/blog/tips-for-selling-luxury-homes/