It
is a common misconception that life is rosy for those luxury home owners that
are at the top end of the market – but owning a million-pound property does not
come without its woes, particularly when it comes to trying to sell it. Selling a large property
requires lots of patience and preparation, in order to ensure you are
presenting the best possible product.
Understandably, luxury homes are on a whole other
level of real estate meaning they require a whole other level of attention when
it comes to trying to sell them. Here are some strategies which are designed to
help luxury home owners when it comes to selling their property in order to
make the process as quick and stress-free as possible.
Pricing
As with all homes, if a luxury home isn’t priced right from the
beginning, it can be detrimental to the timing of the sale and the overall
price.If the home is not priced competitively enough, it will become stuck on
the market which develops a stigma particularly within the local area. This
will result in your luxury home not looking so luxurious anymore and it will
become increasingly harder to sell.
Make sure your agent provides data to back up any pricing
recommendations. To ensure that the price is right, an in-depth comparative
market analysis, must be carried out on your luxury home in order to determine
a competitive or aggressive starting price.
Depending on the location of the home, the market you are operating in,
and the types of amenities in your luxury home, pricing will always be
variable. Due to the uniqueness of each house, it may be difficult to compare
with other luxury properties which is why thorough marketing analysis is
imperative.
Create a Buyer Profile
It is fundamental to appeal to a range of potential buyers. Building a
profile of who might fit the home will help homeowners more effectively market
it. It does not help a seller to show a home to potential buyers when
it may not meet important requirements, such as being close to a desired
location, school or not having a separate space for those who operate their own
business from home. Creating a buyer profile will help in selling a home as it
currently stands or in making upgrades that will attract a target buyer.
Prior
to putting your property on the market, it is advised that you use a residential conveyancing
solicitors to ensure that there are no underlying issues with
the building. This could be anything from structural damage to poor groundworks
and hidden mould which will affect the pricing and the sale of the building.
Insist on Professional Photography
To properly showcase a luxury home, a luxury agent should engage in the
services of a professional photographer. This photographer can not only
showcase your home in the best light (literally) but can provide a quality
tour.
With digital exposure so critical to the sale of your home, having
quality photographs are more important than ever before and essential to the
sale of your home. Clients will judge whether or not they want to look at your
home based on the photos and videos that they engage with from the use of their
laptop, tablets and smartphones.
Offline Marketing for your Luxury Home
Marketing shouldn’t stop at high-quality pictures and videos for your
luxury home. Direct mail and print advertising still remain an integral part of
reaching specific demographics.
Offline advertising for luxury homes needs to be done in locations where
luxury home buyers will be looking.
Local luxury home magazines and newspapers associated with the market
that are interested in buying luxury homes are ideal places to advertise. A
luxury agent will provide a service of creating high-quality marketing flyers
and adverts that will highlight the key features and benefits of your home.
Be Patient!
No matter what the market conditions are, sellers often feel an urge to
rush the process, becoming highly impatient along the way. Selling your
property is not a quick process and won’t happen overnight. Feeling pressured
to sell your property quickly will lead to unnecessary stress causing you to overlook
important market trends that could be crucial to making a sale.
No comments:
Post a Comment