Luxury homes tend to stay on the market longer than traditional properties and require sellers to find highly qualified and motivated buyers. Knowing how to market your luxury estate and having the right professionals by your side can save you considerable time and money throughout the sales process. This often starts with learning more about the luxury real estate market.
Read on for five facts to keep in mind as you prepare to list your home!
1. Connections Are Everything
When it comes to high-end real estate sales, networking and connections are everything; having a broker or marketing team on hand who has connections to potential buyers can be the difference between a home that sits on the market for years and one that sells in just a few weeks. This is particularly true in the case of a private sale when the owner doesn’t want to publicly announce that their home is on the market. Those who work in the luxury real estate market know how to get the word out while maintaining their clients’ privacy. These connections are priceless, and you won’t typically find that in the hands of a standard realtor.
2. Every Showing is an Event
When showing a luxury property, the typical afternoon open house isn’t going to cut it. High-end properties tend to require luxury events – which is exactly how some of the most successful marketers present their properties. By hosting an upscale gathering or multiple private showings, marketers can showcase a home’s most salient features to great effect. That’s something that no self-guided walk-through could accomplish.
3. Patience Is Key
The market isn’t typically overflowing with prospective luxury homebuyers. To find the right buyer who fully appreciates your property and can pay top dollar, you need to be willing to wait. Luxury homes typically take three times as long as conventional properties to sell. Luckily, you can cut down on your property’s time on the market by selling at auction. This format allows you to choose a specific auction date when your estate will be sold – no waiting months for potential buyers to place offers or negotiate a deal.
4. Everything Has to Be Perfect
When it comes to luxury home sales, every detail matters. From the photographs of the property to the webpage detailing its merits, top-notch presentation is everything. Professional photography and videography, a compelling and well-written description that enchants readers while showing off the home’s possibilities, and elegant, no-nonsense web design are all crucial when selling a luxury property. The ordinary just isn’t good enough if you want top dollar for your estate.
5. Luxury Home Auctions Can Streamline the Process Without Sacrificing Your Bottom Line
For many, the thought of a home auction brings to mind foreclosures and fixer-uppers in need of more than a little TLC. However, today’s luxury real estate market is peppered with highly successful auctions, at which multi-million dollar properties routinely sell to the satisfaction of both sellers and buyers.
Listing your home with Elite Auctions gives you a few certainties that a conventional sale can’t. Most notably, we provide a team of professionals with a proven track record of marketing and auctioning high-end properties.
Have questions about the process? Contact us today, and a member of our team will be in touch within 24 hours.