Selling a real estate property is challenging. This statement is even more true when it comes to luxury homes. One of a kind and above grade home only appeals to limited buyers. Most of these properties have luxurious features and high-end finishes that require a certain marketing flair.
Thus, most of these properties can sit on the market for a long time. However, luxury properties take up 30%-40% of the market. If one can close a deal, it’ll immediately result in a large profit.
Just like any business, there are tricks you can use when it comes to selling luxury homes. These tips can ensure that you can sell your luxury property in a timely fashion without dropping its market value price. Read on to reveal these secrets.
Marketing That Works
The price of a luxury home is already marketing in itself. However, other tools are useful in selling it to any potential buyers.
Nowadays, the internet is a great tool when selling a luxury home, as many homebuyers shop using their gadgets. An effective real estate agent should have their own website or blog that’s mobile responsive and has a quality and engaging content. It’s also vital to use social media as a marketing tool for real estate agents to maximize their exposure to any potential client.
It’s also important to plan how to post these properties and what social media platforms are useful. Pinterest and Instagram are great platforms for showcasing the interior and design aspects of the house. Meanwhile, Youtube and Facebook are the best platforms to use when posting videos of the property.
By knowing where and how you’ll market a luxury home, you’ll reach a considerable number of home buyers. Thus, a good marketing plan is essential.
High-Quality Photographs, Videos, and Virtual Tours Are Essential
Over 90% of home buyers begin their search online. Hence, it’s critical to have outstanding and high-quality photos and videos when selling a house. Also, high-quality images and videos can make your property sell at least 32 percent faster because they grab the buyers’ attention.
It’s best to hire professional photographers to take these photos as they have great equipment. Professional real estate photographers also have experience in capturing the amenities and highlighting the property’s exquisite location.
It’s also vital to have professionally created video and virtual tours when selling a luxury home. A video is a great way to capture every part of the home and allow potential buyers to “walk-through” the property.
You can also create a cinematic video that sells the house’s story. Try to include some actors to portray the lifestyle one can experience in the property and capture the imagination of the buyer before they set foot into the home.
Photos and videos are unequivocally one of the most effective ways to stimulate buyers. It will make them react and create an instant connection towards land, views, and overall feeling of life in the property.
Portray the Lifestyle and Location Correctly
Luxury homes are often expensive because of their location and lifestyle. Thus, it’s essential to understand the space itself and the properties around it. Once you have a clear idea, you’ll be able to identify and target those who’ll be a great fit to purchase the property.
You should be familiar with any lifestyle venues that the property is part of, like yacht or clubhouse privileges. You should also know other points of interest nearby, like high-end restaurants, stores, and entertainment venues. Informing them the places they can check-out is a great way to make the buyer feel that they can live in the community.
Try to include this vital information in your listing as well. But, don’t just list everything down. Wordy descriptions can be overwhelming to some buyers. Some won’t even read a massive block of text. You should know what adjectives and power words to use.
Most luxury home buyers often want to know who’s living within the general vicinity of the property. As a piece of bonus information, you must have this available in case the buyer wants to know their potential neighbors.
Patience, Patience, Patience
Lastly, you’ll have to consider that luxury homes take longer to sell than a non-luxury one. You must have a lot of patience in finding a willing buyer.
Luxury homes take a longer time to sell because there are a limited number of possible buyers available to purchase the property. Not many individuals can afford a million-dollar home. For this factor alone, it’s essential to be patient.
The key to selling a luxury property is relaying its story to the buyer and making them feel the fantasy of owning it. Luxury homes are dream properties, and anyone will want them once they see that it can fulfill their wants and needs. Consider practicing the secrets above, and a buyer might surface sooner than before.