4 Tips to Consider Before Selling Your Luxury Home
If you decide selling your luxury home, it can be difficult to do. But once the decision is made, you may be ready to move ahead quickly with the process. At first glance, you may think that you can simply hire a realtor and list the property on the market. However, there are a few helpful steps that you can walk through initially that can prepare you and your home more fully for the process. We want to share 4 tips to consider before selling your luxury home.
Pricing and Paperwork
The list price for selling your luxury home is critical to enjoying the best results. While you may want to get the best price possible for your property, overpricing may turn off many buyers and result in less interest in the home.
On the other hand, if your list price is too low, you may leave money on the table by agreeing to sell the home for less than it is worth. Some underpricing strategies, however, can spur a bidding war that drives the price higher.
Your luxury real estate agent should complete a detailed comparative market analysis to help you price the home appropriately for a fast and fair sale. Data research and market exploration will be completed, and the home’s amenities, size, location and condition will all be taken into account.
High-tech features, such as a lavish home entertainment system or smart home technology, boost the value of the home. Ensure that your real estate agent is aware of all of your home’s features. It can also be helpful to pull out the property’s blue prints, the survey and your mortgage documents before listing the home for sale.
Review your mortgage payoff information to ensure that the list price will cover the mortgage payoff amount. The survey and blue prints may be provided to an interested buyer upon request. If selling your home quickly is important, you can consider using a concierge auction service rather than walking through the traditional sales process.
Your real estate agent will help you to learn about all of the marketing techniques and strategies available when listing your home. Keep in mind that proper marketing for a luxury home involves more than just placing a sign in the front yard and the listing in the MLS.
A good real estate agent will take time to learn more about your property’s key features to determine the target audience. The listing will have descriptive wording that appeals to the specific target audience identified. A detailed listing will showcase the luxurious benefits of the house and sell the lifestyle that your target audience desires. The agent will also actively market your home in as many online real estate platforms as possible.
When selecting your agent, focus on the marketing strategy they will use as well as their other listings in your community. Look for an experienced agent who understands your neighborhood’s appeal and who has several listings nearby. Consider researching the real estate agent online. If their website ranks high in local search results, you can rest assured that the agent knows how to market a property online as well.
You should also ensure that their website is mobile-friendly because many buyers use smartphones and tablets when looking for properties. An experienced real estate agent is also no stranger to social media sites, such as Pinterest, Facebook and Twitter. Open houses are also effective at creating interest in luxury homes, so ensure that’s part of the plan as well.
Photography and Staging
Many buyers today will scour online listings before deciding which homes to tour. They will make a snap judgment about their interest level in your home based on the online pictures linked to your listing.
A smart idea is to work with a home staging expert to beautify your home before having professional photos taken of your property. Staging a home makes it more attractive and accentuates its benefits.
Photographs may motivate potential buyers to visit your home, but scents can trigger old memories, lure people to stay longer and act on impulse. Consider taking that one smart step ahead by leaving freshly baked bread or cinnamon rolls in the oven or burning essential
oils and scented candles before the arranged visit. However, keep in mind that burning candles left unattended or active appliances could cause serious damage.
Many luxury home buyers will have virtual reality home tours before deciding to see it in person. So, after a professional stager has emphasized the best features of your home, you can then look for a professional photographer and videographer to create visuals that will help to sell your home quickly and for top dollar.
Public Open Houses
When listing your home for sale, you will need to prepare yourself for potential buyers and real estate agents to tour the home. Most people will not make an offer on a home sight unseen . Some may even want to tour the home two or three times before deciding to make
Others are only in town for a short time, so you should plan to make your home ready for a tour at short notice. In fact, you may only have an hour or less to clean up your mess and leave the home. Many real estate agents will respect your wishes, however, if you request a
24-hour advance notice for home tours.
The last thing you want is for your home listing to result in theft of property. So while selling your luxury home, do not entice others by leaving valuables out (electronics, artwork, jewelry etc.). If necessary, get a safe or an off-site storage unit to secure valuables while your home is on the market.
As you can see, a lot of time and effort is put into preparing a home to list for sale. A great starting point to consider is to look for a reputable real estate agent to assist you. The agent may then make staging tips or recommend an experienced stager and photographer to assist with the next steps in the process. While it can take time and strategy to sell a luxury home, the end result will be well worthwhile.
Selling your luxury home can be a challenge. But it also can be a rewarding experience. The Life of Luxury can help you through the process. We work with many top realtors around the world. Return soon and follow this popular luxury blog.
Author: Sandra is a freelance writer based in Ohio. When she is not writing about lifestyle or self-improvement, she enjoys reading, swimming and spending time with her Lab dog Buzz. You can follow her on Twitter @SandraMoncadaOh