15 Principles of Selling a Luxury Home
Selling a luxury home is a finely nuanced endeavor, requiring expert representation that is knowledgeable, experienced, well networked, and holds impeccable professional standards. So it’s crucial you work with the right real estate broker who specializes in selling homes in your area and has plenty of experience and a great reputation in the luxury market. Here are some proven principles to help you make the best decisions when selling your luxury home:
1. Pricing your luxury listing correctly.
Selling a luxury home presents certain inherent challenges because you have a much smaller pool of buyers who are interested and qualified. There are also far fewer true comparables because luxury homes are custom and unique properties. Of course you deserve to get top dollar for your home, but it’s important to adhere to the data and market research and price it correctly, with minor pricing adjustments with time if necessary.
2. Your Realtor should know the area intimately.
Remember that a luxury buyer takes immense pride in their home, and sees it as a statement about who they are and their lifestyle. So knowing (and selling) nearby amenities like country clubs, golf courses, business parks, town centers, arts and cultural events, bike trails, lakes, boat clubs, etc. all goes a long way in persuading the high-end buyer.
A potential buyer will also want to make a good investment, so they’ll expect detailed neighborhood data like demographics, trends on home values, crime reports, information on school systems, and planned developments in the area.
3. And know the home exclusively.
Luxury buyers consider their home the biggest investment in their lives so they want to know every detail about the property they’re buying. That includes information about any high end brands like wine fridges, artwork, chandeliers, or custom features like outdoor living spaces, Green or tech amenities. It also helps to have architectural blue prints from when the home was built, maintenance records, and a bio on the builder and designer.
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