From palatial mansions overlooking the ocean to large estates on golf courses, luxury homes are in a league of their own. Luxury home buyers also tend to be more discerning, making high-end properties more challenging to market than other home types.
If you’re looking to sell a luxury home, here are 5 tips to help you close the best possible sale:
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Build your property’s identity
When you sell a luxury property, you need to give it an identity that exudes prestige and class – a kind of mystique defining the lifestyle that goes with it. Unlike in the regular housing market, each high-end home is unique, and luxury home buyers are always on the lookout for that singular quality that makes a property stand out from the rest. Make sure you know which features of your home to highlight to give it a distinctive tamp.
Be creative in your descriptions. For instance, instead of saying “the dining room is spacious”, say it’s “perfect for hosting dinner parties.” If your home has a waterfront location, make sure to highlight this feature. Waterfront homes are highly desirable and tend to sell for more because of their gorgeous views, access to the water, limited number, and the architectural expertise that comes with building one.
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Invest in quality pictures and videos
Everyone today is connected online and marketing via the internet is the most widely used method in real estate. It’s important to make your listing stand out on the web. Make sure the images you upload are clear and high-res, and your descriptions are catchy and well-written.
Typically, the MLS (Multiple Listing Services) and other real estate portals have a cap on the number of pictures you can include in your listing. If you need more to show off your home’s best features, create a video of the property. This growing trend allows buyers to tour and experience your home with just a click of a button.
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Avoid public open houses
In the regular housing market, open houses play a huge part in the selling process, but for a luxury home, that is not always the case. A public open house for high-end homes often attracts those who are simply curious to see how the “rich and famous” live. It could even invite criminals who want to stake out the property.
What often works for upscale homes is a broker open house, attended by real estate professionals whose clientele include luxury home buyers.
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Price the home right
Make sure your home is priced competitively. If it is too expensive, it could stay on the market longer than necessary, particularly as buyers of these property types are fewer. On the other hand, pricing your home too low might give the impression it is less desirable than similar properties.
An analysis of the current housing market in your area will help you determine the right price. Research prices of comparable houses. Your real estate agent can greatly help by doing a comprehensive market analysis.
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Partner with the right agent
Not every real estate agent has the knowledge, experience, or connections needed to effectively sell or buy luxury property. Make sure you work with someone who specializes in the high-end market and has the right network, which they can leverage to get your home sold at the best possible price.
We at Thirty4 North Properties Group know what it takes to help you close a great sale. Our experience and know-how in buying and selling luxury homes in Wilmington, Wrightsville Beach, and the rest of coastal eastern North Carolina are unparalleled. Call 910.821.3510 or email us at kfreeman@thirty4north.comtoday.