Luxury Listings – Selling Your Splendid Home
Selling a luxury home has a ton in common with selling other residential properties but with a few extra considerations.
Two items that selling a luxury home and other residential properties have, or should have, in common are working with a professional Realtor with a proven track record and also pricing the property correctly. Let’s look at these two items first.
4 Major Points for Selling Luxury Homes
The Realtor does matter:
I strongly suggest when shopping for a Realtor the first thing you want to do is look for reviews and testimonials. There should be plenty of great reviews and testimonials both recent and past.
You also want to ensure that the real estate agent you choose understands and makes effective use of social media. They should know how to work and use their audiences and have skills with paid advertising across various social media venues in reaching target audiences.
That doesn’t mean that they necessarily have huge audiences, though larger local audiences help. When you’re reviewing them, look for syndicated advertising across multiple platforms.
Pricing to Both Sell and Net:
Everyone feels their home is special of course, but pricing correctly ensures the home will sell and there are many “tricks of the trade” to land the target net.
- The problem with sellers that don’t listen to Realtors about over-pricing, or working with an agent that is merely “listing-hungry’ that will take an overpriced listing and hope to talk the seller down later is that the most interested and qualified buyers will see (or not see) the property in the first few weeks.
- When the home is overpriced it will be overlooked by many buyers, and with price reductions down the road unwelcome doubt and questions arise further stoking lower than desired offers.
- Then, sellers are likely to go through one or two more agents until they agree at last to price it correctly and finally sell the home. The whole idea of selling is getting your home the attention it deserves and casting a large a net as possible.
- When a luxury home (or other residential property) doesn’t sell timely, it can either be the sellers’ fault for not pricing correctly and / or a lack of advertising power on the agent’s part and often a combination of both.
- Pricing at fair market value or even slightly under-pricing can lead to multiple offers having garnered the attention of highly interested buyers often resulting in selling at more than asking price.
Preliminary Title Search and Home Inspections:
Having a preliminary title search and having your own home inspections done prior to listing can present future buyers with a "clean bill of health" for your luxury property, giving them greater confidence that the home and the title are free and clear of defects. Or, if defects become known, they can be rectified prior to listing.
Passionate About Presentation:
I have seen some whopper mistakes made by some listing agents selling luxury property and average residential homes. First of all, great photography is a must and the same for videos. Clean high-resolution images with great lighting, steady videos that don't jar, clean virtual tours and please; not just one picture of the front of the house. Pictures sell homes. I'm personally horrified for sellers when the listing agent takes one photo and just slaps it up on the MLS. Good grief!
Simply listing a home on the MLS is only one out of a couple dozen ways to advertise a luxury home (or any other property) effectively.
Before photographing, consult with a local home staging professional. Properly staged homes statistically sell faster and for higher net. Obviously, you're going to want to depersonalize the property, removing things that hinder buyer's ability to imagine their own life in the home.
A proper, professionally written listing description is always in order for selling any type of home. Some agents have way to heavy a hand over-abbreviating, not separating descriptive words and features properly, unknowing apparently that Google and other search engines can "read". "custom stone home", for instance vs "cstm stn home" and affects search results.
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