For most of us, when we consider selling our home, it’s as simple as picking up the phone and calling a real agent. The agent will then begin searching for a potential buyer by listing the home for sale in real estate listings, or by staging an open house for potential buyers.
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Luxury homes, on the other hand, require a certain marketing finesse not necessary with lower priced homes. Only an agent skilled in selling high priced luxury homes, familiar with the required marketing methods, will understand this process.
Marketing The Luxury Home
Luxury homes are those with a price tag of one million or more. Because of the high price, and the fact many have been custom built and specially equipped with a certain lifestyle, and particular tastes, potential buyers may only be a handful of buyers, and will include only a particular type of client.
Many homes range from the elegant to luxury technology or entertainment interests. These homes are marketed with a completely different selling and buying concept in mind.
Targeting The Buyer
While lower priced homes are easier to sell, higher priced homes require targeting the buyer for the home. This is especially true if the home is highly personalized and includes unusual features. It is essential to target buyer interests to the particular features of the home. Buyers also won’t normally live in the local market, unlike lower priced homes. For this reason, networking with other luxury home agents may become necessary to find the right buyer.
Preparing For The Sale
Like all homes, prior to selling a home, sellers should have the home appraised, and then go to work fixing any potential problems. While planting a flower garden, applying new paint, having the home termite inspected, and making sure all elements of the home are repaired is the common practice for selling most homes, this won’t be enough to sell a luxury home. Potential buyers are looking at luxury homes through different eyes, and one displeasing feature is enough to ruin the sale. This makes using the right agent even more important.
Luxury Agents and Staging The Sale
Agents can often stage homes for sale, which means renting the right type of furniture, and positioning selected art pieces, catering to the potential homebuyer’s interests. It might also mean showing how a space can be used for a variety of purposes.
Some agents might choose to hang a picture of a different use for a space in the entryway to the room. This would help buyers visualize their interests in the room. Agents know the industry and use their expertise to employ creative ways of selling the home.
Unlike lower end homes, open houses are not a good way to attract buyers. They often attract the wrong type of buyer, and may even open the home to potential thieves, and those without the means to purchase the home. Charity events, broker-listing parties, or other events that cater to million dollar buyers are best to attract those interested in luxury homes. There are many other selling methods experienced brokers employ to attract the right buyer. Finding the right broker, with specialized skills and selling finesse is vital to successfully selling luxury homes.