When it comes to real estate, the market is distinctly different when you’re selling luxury homes. If you have a high-end property to sell, every aspect of the pricing, marketing, and sales process has to be tailored to appeal to the right buyers. In fact, the higher up you go in the price bracket the more you will have to make carefully chosen moves that appeal to a very specific group of buyers with considerable spending power and considerable expectations for what they will get.
Undeniably, trends in the overall market are essential; however, at the end of the day, it’s your job as a seller to ensure you do the best you can to sell your luxury property—and sell it fast. There are no guarantees in real estate, but there is certain things that you can do to make your luxury home stand out even more than it already does and rope in the right buyer.
Find a balance when setting your price
Setting the correct price for a luxury property can be one of the trickiest elements of selling a property. Pricing it too high and you might end up with a home that stays stale on the market; pricing it too low and you may end up discounting what the property is worth. It’s your job and that of your realtor to find a happy middle ground that accurately portrays what your home has to offer and its true value without potentially deterring a certain chunk of your buyer pool.
Imagery that invoks emotion
If you are listing your home for sale, the photos are essential to the real estate process. If you are considering listing your home for sale, hiring a talented photographer will be your best bet to get the job done right. Your realtor will be able to recommend a photographer and can oversee the process. It’s crucial to represent the home throughout the buying experience accurately. Besides still photographs, give your listing an added advantage by including videos and a virtual tour of the property. Video tours and imagery are important for foreign buyers as they can not always see the home in person.
Forgo the public open house
To optimize exclusivity when selling a luxury property, you must give up the public open house and schedule only appointment-only viewings. There are two benefits to doing it this way: one, you make buyers feel that seeing the property is a privilege, and two, you do not have to waste your time setting up your home for an open house that will likely be filled mostly with non-buyers who are just curious about what the property looks like.
Your home is not like the others
The high-value unique features of your home will be the main selling points. One of the more significant mistakes is assuming that your home speaks for itself and the buyer will see its value in features. The best practice is to keep a consistent, detailed message throughout different mediums like written, video, and imagery. You want them to see the entirety of the home with as much context as possible so they can see just how much thought and value the home presents.
Location, Location, Location
In upstate South Carolina, you have a wide range of emotions and lifestyles that a luxury buyer will be interested in. Most times, the buyer is transient from out of town. Branding the home for sale is only the first step; the rest comes with branding the community and the location. In luxury markets, the community comes at a premium. It’s important to brand your home from a bigger picture perspective. How does your home fit into the community? Think back to when you bought the home. What about the community-made you say yes? Once you find that answer, work with your realtor to convey that emotion to a buyer. It’s best to work with a realtor that already does an extensive amount of community marketing. Keep in mind a brokerage that only deals with one community will have a limited buyer pool.