Part two of a two-part series
Although it’s difficult to quantify the definition of a luxury property, most buyers know one when they see it. The scale is grand. The location, ideal. The house, much more than a home. If you are looking to buy or sell a luxury home, you are in good company, as estate sales are hitting records across the country. For example, the number of California homes selling for $2 million or more reached an all-time high in 2013.
In our last blog post, we covered 10 Tips for Buying Luxury Property. This week, we will conclude our two-part series by focusing on how to sell a luxury home. Admittedly, the last several years have been volatile in terms of the housing market. However, one niche segment has remained fairly strong—the ultraluxury segment.
According to Business Insider writer, Abby Rogers, “While talking to realtors and industry insiders…we heard some great home-selling tales and got valuable tips about how to sell an astronomically-priced home.”
- Show the Value – more important for a luxury property than for any other house, valuable assets should be showcased in a way that appeals to luxury buyers.
- Understand Buyers – while their market may have been the slowest to change, luxury buyers today understand how important it is to invest in the perfect property, not just for vacation or even full-time use, but for potential future investment.
- Reach Your Target Market – when you’re selling a modest home, it might suffice to list with a novice realtor whose ad campaign will focus strickly on the local market. But if you don’t want to waste time, and if you want to make sure you get the best available offer, work with an agency that offers global exposure. The Prime Team, for example, is a member of Leverage Global Partners. In addition to offering exceptional service and connectivity, Leverage differentiates itself from existing international luxury real estate associations by increasing the online and social media presence of their members, and providing marketing tools designed to help each member expand their individual business. Leverage promotes the presidents of member firms and extends media access for their members’ properties through a robust public relations outreach and digital platform.
- Stage It – studies prove that people respond with higher offers when they see properties that are perfectly staged. Most of us just don’t have a good enough imagination to picture how to beautifully furnish a luxury home. So, unless your real estate agent advises leaving your home as it is, consider hiring a company which will do all of the work for you. The right luxury agent will be able to recommend staging companies and may even offer to work with the stager on your behalf.
- Network – Referrals are vitally important when it comes to selling your home. So don’t list with someone who is new to the area or hasn’t worked hard to develop valuable connections. Word of mouth remains the best sales tool ever invented. So your broker’s associates multiply your pool of perspective buyers, which will result in a quick sale and a high price.
#RealEstate investing can be tricky—especially if you are in the market for #LuxuryProperty. If you are interested in buying or selling property in Lake Arrowhead, California or the surrounding area, don’t get caught in a Catch 22 — owning two homes or none at all. The Prime Team is the only group of real estate agents in the Lake Arrowhead area who stand by our services by offering a number of guaranteed sales and purchasing programs. Recently named the exclusive Lake Arrowhead member of Leverage Global Partners, we are perfectly positioned to help you take advantage of today’s luxury market. We’ll answer all of your questions today, and you’re never under any obligation. Call 1-909-337-7653 and ask for a member of the Prime Team.