Selling a luxurious property needs more effort from the agent. Considering that the property is worth millions of dollars, the treatment for marketing a luxury property is different from the rest of the listings.
If you are a real estate agent selling luxurious homes, you need to make the buyer understand what makes the home expensive. To do this, consider doing the following tips:
- Know your clients
You need to make your marketing campaign targets the high-end clientele, that is, those you think have the financial capacity to buy the house. You are not trying to sell the market to anybody but only to a small group of the audience. That group belongs to the millionaires club as they are the only people who can afford to buy the house.
- Know what you are selling
A luxury property doesn’t always mean that it is very big. Sometimes, a property becomes very expensive in value because of its wonderful architecture, historical significance, or its close proximity to award winning schools and posh neighborhoods where Michelin star restaurants adorned the streets. Learn what makes your listing expensive. Highlight the state-of-the-art amenities, the priced antique collections and the reputation of the house.
- Know the right price
If you followed tip number two, determining the right price for your listing is easier. Aside from its strength, you also need to consider its weaknesses. The weak side of the property can lead to a price reduction request from the buyer which you also need to weigh in. Check the comparables in the neighborhood or in surrounding communities. Do not set an asking price which is too high or too low for your comps.
- Right timing
Putting the property on sale during the monsoon or snow season is a terrible idea. No one wants to set up a schedule for a home visit on rainy, bleak days. It will be very inconvenient for the buyers to travel when the weather is not cooperating. The property looks amazing on sunny days when the client will have the chance to see the house in its full glory, with a mountain or city view serving its backdrop.
Winter is the worst since it will be hard to appreciate several amenities like the swimming pool, tennis court, golf course, vineyard, etc. The geography of the surroundings will be obscured by the snow which is not a good selling point for the property. If possible, schedule to sell a luxury property during summer or spring, not in winter.