Putting your luxury home up for sale can be a daunting task if you don’t know how to attract the right buyers.
It’s no secret that a gorgeous luxury home is going to attract attention once it’s listed, but getting the attention of the right buyer will help you sell your home quickly and easily.
When it comes to non-luxury homes, there are plenty of effective ways to find eligible buyers, but real estate is not one-size-fits-all. To sell your house as quickly as possible, you must make sure you use the correct approach for finding luxury buyers.
Here are 5 tips all luxury homeowners should follow when preparing to sell their homes:
1. Find a neighborhood realtor who specializes in luxury homes
One of the biggest mistakes a luxury homeowner can make when it’s time to sell is hiring the wrong realtor. While it’s true that a realtor who doesn’t specialize in luxury homes may be able to sell your home quickly, your chances of finding the right buyer are much higher when you work with a luxury realtor who’s familiar with your neighborhood.
A local realtor who specializes in luxury homes will have a better understanding of the luxury market than a general realtor could. In addition, realtors who are known for working in the luxury space offer the advantage of having connections that can help find a buyer for your home even if you choose to be discreet in your marketing methods.
Speaking of marketing, luxury realtors a great resource for marketing your home, because they’re more familiar with the intricacies of luxury home amenities that are uncommon in non-luxury homes.
In addition to marketing the house itself to the right kind of buyers, a luxury realtor will be able to effectively market the high-end design features that your ideal buyer is most interested in.
2. Identify features that make your home unique
Every luxury home has some unique qualities that are sure to stand out to buyers. Don’t miss the opportunity to attract a great buyer; whether you choose to market the property online or offline, emphasizing your home’s unique features is crucial for selling a luxury home.
An experienced luxury realtor can help you identify your home’s top selling features, based on current market demands and expectations.
Whether it’s the exquisite spa-like bathroom, a breathtaking gourmet kitchen, a high-tech security system, or a myriad of other impressive features, your realtor can help you pick out the best features to emphasize when marketing your luxury home.
3. Identify who your ideal buyer is
One of the most effective ways to find the right buyer is to work with your realtor on creating a so-called profile of him or her. This is a classic sales tactic that’s effective for selling just about anything, and luxury homes are no exception.
Now that you’ve figured out what features make your home unique, the next step is to determine what kind of person is most attracted to those features. For example, a home with a temperature-controlled wine cellar will likely attract a buyer who appreciates fine wines and enjoys hosting lavish events.
Generally speaking, a person buying a luxury home will be willing to pay more for a home that caters to their tastes. Make this step one of your first priorities after you’ve chosen a realtor to work with.
Aside from identifying how to market to your buyer, you must also consider where you’ll market to your buyer. For instance, using print ads to market your house may not be the best option if your ideal buyer is a techie who’s more likely to search online for homes for sale.
Again, an experienced realtor who’s familiar with marketing to people buying luxury homes is an excellent resource for you as a seller.
4. Pay close attention to other luxury homes for sale in your area
Scoping out other luxury homes for sale in your area is equally as important as creating a profile of your buyer. You can think of the other listings as your competition, in a way.
While comparable listings will inevitably impact your own asking price, you can still leverage your home’s unique features and their appeal to your buyer when setting your asking price.
A neighborhood realtor can help you determine the right asking price by focusing on how your home compares to nearby listings in terms of size and amenities.
Again, keep in mind that somebody buying a luxury home will not necessarily choose a lower-priced house over yours if your home has more desirable features.
5. Invest in staging and a professional photographer
Staging your home appropriately can help make a great impression with potential buyers. Not to mention, hiring a professional photographer after staging will help you to market your home more effectively online with high quality still shots and/ or a video tour.
While it’s certainly not necessary to stage every room, it’s generally a good idea to at least stage the living room, kitchen/ dining area, master bedroom, and the master bathroom.
When selling a luxury home, you’ll also want to make sure your staging compliments the home’s selling features. If, for example, a spa-like master bathroom is a major selling point of your home, you can stage this room by hanging up a fluffy white robe and arranging candles on the vanity, in order to emphasize the relaxing feel of the home.
By now, you can see how just a few strategic steps can make a huge impact on your ability to find the right buyer. For more information on how to sell your luxury home, contact me today!