We all know that selling a home is not the most straightforward task, but it doesn’t have to be exceptionally hard. It’s important to understand that the market is a bit different when selling a luxury home, and so is the difficulty level. Everything from how you price the house to how you market it will need to be optimized for the right buyers, and the higher the price, the more you’ll have to make specific moves to appeal to your target demographic.
If you’ve never sold a luxury home before, you might be a bit nervous stepping into new territory, and having a certain level of expertise at your side will certainly help. Knowing market trends will help; an exceptional realtor with experience selling luxury homes will ensure the house is sold promptly and for a fair price. Your job at the end of the day is to do your best to sell your luxury property quickly. And since we know there are no guarantees in real estate, we’ve put together a guide to help you make your home stand out even more.
Find the proper price point
One of the trickiest parts of selling any luxury home is setting the correct price from the beginning. You’ll want to ensure that it’s priced either very competitively or aggressively from the start so that you are attracting buyers right away. You don’t want to price it too high or too low because that will cause your home to sit on the market for longer and could potentially cause it to sell for less than what it’s truly worth.
Work closely with your realtor to find a happy middle, settling on a price that speaks to the value of your home without deterring buyers. An agent experienced in luxury real estate, like Joshua Saslove or Riley Warwick, will work to get an in-depth comparative market analysis on your home, which will help determine the best price to list your home. A home valuation will also help determine the house’s worth. The team will also help you decide which amenities help your home stand out from the other luxury homes in the area — another step toward determining a reasonable starting price.
Hire an experienced real estate agent
This tip seems a bit obvious, but having an agent experienced in the luxury market is vital to navigating the market as a seller. While every broker has specialties, understanding the delicate balance of selling a luxury home is critical, especially in pricing and marketing.
You can find someone with proven experience in several ways. Start with networking. Check with your friends and neighbors who have sold luxury homes for recommendations. You can also search your area for agents in the luxury market and look at their past-sale portfolios and reviews. As leaders in the Aspen luxury real estate market, we at Saslove & Warwick take pride in having the knowledge and work ethic you need to sell your home quickly.
Hire a professional stager
As with selling any home, the process of staging will not single handedly sell your home, but it can go a long way in making it more appealing to buyers. Your goal is to showcase the home’s signature amenities, making it exude luxury. If you have an exceptional outdoor space, is it staged so buyers can envision themselves enjoying evenings in the summer? What about that magnificent kitchen that would make a chef drool? Showcased each room so the luxury features are front and center, ensuring buyers can easily see what makes the home unique and desirable.
Staging your home can be a huge task, and it might be challenging to see the home from a different perspective. In this case, hiring a professional staging company is an excellent option because they can help guide you through the entire process and explain how it optimizes your home’s full potential. Aspen Home Staging is perfect if you’re looking for a professional with quality work and tons of experience.
Hire a professional photographer
When it comes to luxury real estate, quality supersedes quantity. More than 90% of buyers begin searching for their homes online, so use photos and videos to make your home stand out. If your agent does the images themselves, ensure they have plenty of experience and proper equipment. The lighting should complement your home’s layout and amenities. Mediocre smartphone images don’t cut it in a standard market, so they certainly won’t draw any crowds in a luxury market. Investing in high-quality photos and videos is going to make all the difference.
Better yet, create a virtual walk-through of the home. Buyers online can tour your house and get a feel for it without leaving their own. The MLS limits the number of photos, and because buyers can be from anywhere, the stakes are high regarding visual marketing.
Market your home wisely
Real estate marketing is critical when selling a luxury home. Simply putting a sign on your lawn and listing it on the MLS isn’t likely to cut it. Print advertising is one way to reach people in ways the internet cannot. But the best agent will connect with your prospects via their website, blog, and social media. Using these tools ensures our clients and their listings get maximum exposure.
Most people use social media, and your agent should go beyond simply sharing your listing. They will know the luxury market, how qualified prospects find homes, what strategies work best, and what additional tools will ensure your listing stands out.
Selling a luxury home is similar to selling any other home, but it requires a bit more patience and a lot of expertise. A good strategy and suitable agents will ensure your home is sold quickly and for the best price. When you’re ready to sell your luxury home, contact us. We’re happy to help!
*Header photo courtesy of Saslove & Warwick