Luxury homes tend to stay on the market far longer than their less dramatic counterparts – mostly because getting them in front of the right buyers can be challenging. The luxury real estate world is highly exclusive, populated by buyers with radically different ideas about a home’s quality and must-have features. Additionally, for many sellers, privacy is a significant concern; a highly publicized listing can be undesirable for a variety of reasons.
However, finding the right buyer for your luxury home doesn’t have to feel like an endless process. We’ve compiled the following tips to help you connect with the perfect buyer for your listing:
1. Understand Your Buyer’s Wants and Needs
Get to know the type of buyer who’s most likely to be searching for luxury homes in your area, as this will dramatically impact your marketing strategy. If you live in Silicon Valley, for example, you might be marketing to a younger set of tech geniuses. For these buyers, smart home features and contemporary improvements will likely be a huge selling point. Meanwhile, if luxury homebuyers in your area tend to be older retirees, you should highlight your first-floor master suite and other features that suit the comfort and preferences of that audience.
You should also consider what your ideal buyer does in their spare time. Of course, the responses to this question will vary widely, but having information about local attractions, like ski areas, beaches, fine dining establishments, and airports or transportation hubs, is key to reaching the right buyers.
2. Create an Eye-Catching Listing
For luxury properties, a professional listing involves much more than a standard MLS workup. Professional photography and videography, flawless web design, and engaging content writing are elements you simply can’t skip. As you create your listing, focus on selling an experience, not a list of features.
3. Don’t Skimp on Marketing
For many luxury listings, you won’t just be scheduling one walk-through at a time; you’ll be planning an event. Depending on the property itself, you might host an open-house that looks more like a cocktail mixer, showcasing the home’s entertaining possibilities and all its best features.
Additionally, because traditional websites like Zillow and Realtor aren’t always suitable for high-end estates, you’ll likely need to utilize a variety of other marketing tactics. These could include sending brochures to prospective buyers, running targeted ads on social media, and more.
Investing in the highest-quality marketing materials, paying attention to the finest details of your strategy, and ensuring precision and care in every step of the process will ensure you don’t leave a bad taste in the mouth of prospective buyers before they see the property in person.
4. Consider a Luxury Real Estate Auction
Auctioning a luxury property is a great way to find buyers without skimping on the marketing and presentation process. Luxury home auctions close far more quickly than traditional sales, allowing sellers to set an auction date of their choosing. Many luxury properties listed for auction end up selling before the auction date itself; all it takes is a motivated buyer willing to make a great offer!
5. Work With the Right Team
When it comes down to it, selling a luxury home for top dollar means enlisting a team of experts who know and love their industry. Having allies who can put extensive marketing skills and connections to work for you will make all the difference.
When you sell your home with Elite Auctions, you’ll be working with a team of professionals whose skills and connections make them a powerful asset. We provide photographers and videographers, organize showings, and put together a marketing strategy that will help you get your home in front of the right eyes. A proven track record of success and a team with connections throughout the luxury real estate world result in highly successful auctions time after time.
Have questions about our process? Contact our team today!