Tips For Selling Bay Area Luxury Homes

Selling

 

What Does It Take To Sell A Luxury Home In The Bay Area?

Considering the value of luxury homes, it is understandable that sellers would want to get things right. These homes are substantial investments, often worth millions of dollars. You have to attract the right buyer, know how to make the buyer understand what makes the home worth the money, and be able to negotiate effectively when selling some of the highest-priced homes available. Having the right list price and the best real estate agent are two vital cogs in the sale of a luxury home.

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Create a Psychological profile of the buyer:

It may seem strange to start off a list of the best luxury home selling tips with creating a psychological profile of the end buyer but it’s really not. First and foremost you want to know who you will be marketing to when trying to draw in a high-end clientele.

 

With a luxury home sale, you are not always casting the widest net but trying to appeal to a certain audience. Of course, the buyer needs to be able to comfortably afford the home. The last thing you want to be targeting is those who are marginally qualified.

 

But what exactly are you selling? Beyond the magnificent architecture of your property are you selling close proximity to a major city, an award-winning school system, the top neighborhood in the area or the best restaurants and shops within walking distance? These are just a few examples. There could be many more that apply to your specific home. You and your real estate agent need to have a strong grasp of what separates your home from other luxury properties in the area and market to those strengths. Understanding what motivates a luxury home buyer is important.

 

Good timing:

In the winter the cold wind, oppressive rain, and constant cloud cover will tend to obscure the many benefits of owning the home. Obviously selling such a home would be easier in better weather, and the home would most likely fetch a higher price if buyers see it in the best possible light. A great luxury home selling tip is to take advantage of the optimal season in your specific location.

 

In The Bay Area, it would not make sense to list a luxury home in the winter unless your financial situation dictates it or other personal circumstances. With a luxury property, you want to take advantage of the best selling season where there are more buyers in the market looking for luxury real estate. Without a doubt, the best time of the year to take advantage of selling a luxury home is in the spring.

 

In the spring buyers can get a complete understanding of the grounds which is often a big selling feature in luxury homes. There are going to be things that you can’t appreciate in the winter such as a luxury swimming pool, tennis court, magnificent landscape. 

 

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To sell or buy your luxury home, schedule your consultation to get started or call (650) 665-0948

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Price it correctly:

One of the most important tips for selling a luxury home is pricing it at the right price from day one. Pricing any home correctly is challenging. Knowing how to look at a home, measure its strengths and weaknesses, compare it to similar homes, examine the surrounding market and price it to both sell in a timely manner and for a good price – these are skills that Realtors master.

 

Luxury homes add another layer of difficulty when it comes to pricing. There are less comparable homes to reference, and each luxury home tends to have unique features that only some buyers will value. A luxury home tends to have unique features that tend to make it harder to price.

 

Some agents will try to use rudimentary ways to price the luxury home like using price per square foot. This is a sure-fire way to get a luxury home to price wrong! There are significantly more challenges to pricing a luxury home. The price, however, needs to be spot on if you want to get top dollar.

 

Price a home too high, and it will sit on the market for months without selling. Eventually, it will develop a stigma – buyers will assume there is something wrong with it. This is especially true with luxury homes because, with such a smaller supply, buyers and their agents are unlikely to forget about the home. They will recognize it, even if it pops up a year later at a lower price. Pricing the home correctly is one of the biggest reasons to hire an agent. 

  

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Effective Online marketing:

Finding the right buyer requires getting the word out about the property for sale. Today the primary marketing channel is the internet, but putting up a listing on the multiple listing service (MLS) is not enough to sell a luxury property – or any home, for that matter.

 

In addition to pricing a home, a reputable Realtor will have a number of marketing options for your luxury home. The first will be online, but the most pervasive will often be the network he or she has with other Realtors, past clients and other people involved in high-end real estate.

The best buyers may be found through the internet, or they may be found through a contact of the real estate agent’s. The point is to work with someone who has the ability to reach buyers who will want what you are offering.

 

Real estate agents understand the best marketing tips for selling a home and they take advantage of them all. The real estate agent you select to sell your luxury home should have a dominant internet presence. Let’s face it more and more people spend a ton of time on their smartphones. Everyone has their favourite social network they regularly use. Social media real estate marketing is just another way of going outside the box in getting a high-end home sold.

 

Effective Offline marketing: 

While online marketing is a critical part of selling a luxury home so is your print marketing material. There should be additional money invested in marketing material when marketing a high-end home. Perception is everything when it comes to marketing to buyers who are purchasing an expensive home. Brochures should be of the high-end glossy variety.

 

The marketing material should tell a story both about the home as well as the city or town the property is located in. Selling such things as the neighbourhood or outstanding education are all part of the puzzle. Often you are selling a lifestyle and this should be conveyed in the marketing material. Keep in mind that many luxury home buyers look for well-known luxury brands. This should be reflected in your marketing.

 

For example in the kitchen, high-end appliances include a Sub-Zero fridge, a Wolfe or Viking stove, a Thermador oven, a Miele or Bosch dishwasher. Luxury buyers look for these brands. When marketing the home these things should be emphasized. The kitchen is the most important room in the house so extra time should be spent featuring it.

 

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To sell or buy your luxury home, schedule your consultation to get started or call (650) 665-0948

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Using high-end photography and video:

Whether a buyer finds your home online, or through contacts of your real estate agent, most people are going to want to look at the listing before they schedule a viewing. A quality listing will contain pictures and a video tour of the property. Just as a good portrait photographer can bring out the best ­in a person, a skilled home photographer can make any home look its best. You want pictures that attract buyers, which requires working with a professional. Luxury homes deserve exceptional professional photography. This is one of the most important aspects of selling a luxury home. When someone asks how do you sell a luxury home, photography will be at the top of the list! 

 

Video is becoming as important as photos when selling real estate today – especially when you are selling a luxury home. Buyers may be coming from across the country to view your home. Even if they are coming from next door, a video tour can give them a good idea of what living in the home would be like, and convey what makes your home special. Filming a quality video tour may cost a little bit of money, but it can be considered an investment. The better the video looks, the more likely you are to attract the right kind of buyer.

 

Higher a professional writer:    

After you discuss with your agent all the details about what exactly are you selling beyond the magnificent architecture of your property, it's significantly recommended  to higher a professional writer to draft a story about your luxurious house, the neighborhood, and the city, as much as high-end photography and video is effective  to your home sale, an immature story or a poor home description will have a limitation on effectiveness. Luxury home shoppers narrow their choices based on data and pictures. But they still need to get a feel for what makes each home unique and interesting compared to other homes on the market. This is where property descriptions do their heavy lifting. Good descriptions communicate a home’s features, along with the benefits, which make it the most desirable choice. Making a property stand out. 

 

Avoiding open houses:

Open houses are so common when selling homes that most sellers just assume they are necessary. In reality, there is no consensus on the benefit of an open house when selling the average home. However, there is a consensus on the subject of open houses for luxury homes – avoid them. When you have an open house for a luxury home, it attracts everyone under the sun into your home.

 

Plenty of people will show up that do not have the financial ability to buy your home. Even those that do have the money may not be interested in buying, they may come over just to compare, to see how you live or just for something to do. People often ask if open houses work to sell homes. The answer is they are completely unnecessary to sell a home in the digital age. The benefit of an open house goes to the real estate agent who is using this time as a prospecting opportunity for both potential sellers in the neighborhood, along with buyers who can’t afford your home. Keep in mind with a luxury home there is going to be a high level of curiosity. This is going to bring through the door plenty of people who don’t belong.

 

Instead of an open house to the public do a broker's open house instead. Your real estate agent will invite all the local real estate agents and especially those Realtors who specialize in working the luxury home market. By having a broker's open house you are giving local agents the opportunity to see all the best features that make your property luxurious. If they are working with a luxury buyer, the agent will be well versed enough to speak intelligently about it.

 

To sell or buy your luxury home, schedule your consultation to get started or call (650) 665-0948

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