Selling a Luxury Home
On the surface selling a luxury home probably seems easy. Who wouldn't want some of the many amazing features you see in luxury properties? Things like indoor swimming pools, luxury home theaters and even a home gym that rivals something you would see at Gold's can be found in many of today's luxury residences.
Just because a home is drop dead gorgeous, however, does not mean it is an easy sale. You still have to put your home on the market and find the right buyer whether you are selling a luxury property or an undesirable fixer upper.
Selling a high-end home means there will be fewer buyers than your average property. The marketing needs to be exceptional when you are selling properties that are worth well north of a million dollars. Someone how can spend millions of dollars are typically looking for something very specific.
In order to get a great opinion on the subject, I reached out to Bill Gassett, a Realtor in Southborough Mass who has over thirty years experience selling luxury real estate. Bill gave me some great insight into the necessity for exceptional marketing when it comes to a high-end home. Here is what Bill had to say.
"Adrienne thanks for the opportunity to share my insight. Selling a luxury home is very different than selling your average four bedroom, 2.5 bath colonial located on Main Street. Selling these kinds of homes entails understanding exactly who you are selling to. It is important to know your market before you even list the house for sale.
What you have to understand is the persona of the end buyer and then tailor your marketing to capture them. For example, if the property you are selling is located in an area that is known for it's golfing and high-end restaurants, you would want to make sure your marketing focused on these aspects.
Far too many real estate agents think only about marketing the structure and its amenities. Doing so can be a big mistake. This isn't to say that the homes best attributes should be ignored - far from it. The home, however, is only part of the package you are selling.
For many luxury home buyers the local school system can play a major role in the home they ultimately end up buying. Does it look like the end buyer will more than likely send their kids to a private school in the local area? Is this, in fact, one of the reasons people actually buy a luxury home in the city or town?
Good marketers ask themselves these kinds of questions so they can provide the homeowner with the best marketing that will ultimately land them the buyer they want.
Once you know exactly what you're selling it is then crucial to put your marketing game plan into action. The internet today is without a doubt one of the most important avenues for selling a home.
It all starts with having exceptional photography. When selling a luxury home professional photography is a must. Plan on spending five hundred to a thousand dollars just making sure your photos are dynamic. Using high-end video is also a must when selling to affluent buyers.
Before a high-end buyer decides to call an agent they will appreciate the opportunity with their busy schedule to have a sneak peak inside. There is nothing that accomplished this better than a narrated video tour."
The takeaway here is that selling a luxury home is not a breeze. Despite the fact the home may seem incredible to the average person and frankly sell itself, this is not what happens in the real world!
Finding the right real estate agent who has a strong grasp of marketing luxury homes is paramount to your success. Make sure you do some thorough research before you hand your keys off to someone who has no experience selling luxury real estate.
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