In this rapidly evolving generation where technology is at the forefront and information is at the world’s fingertips, the methods for selling luxury must be approached differently in the modern era. Through experience and cutting-edge expertise developed throughout my career, I can share with you some key details that have allowed my properties to sell in record-breaking time and for top dollar, when the last agent could not.
1. Take an artistic approach
Not every listing or home is the same, and each have their own defining characteristics that make them unique. A luxury home or property should be regarded as a piece of art, presented and being able to resonate with a buyer who will fully appreciate what the home is truly worth. Whether it means to stage a property or highlight special details of the home through strategic photography, you want to use your resources to attract the right type of buyer looking for your home. By taking an artistic approach to selling a property, you are immediately differentiating yourself from the standard approach a typical agent would use to sell their own properties and homes.
2. Remove the lockbox
How would an agent expect to effectively sell a luxury property by placing a lockbox, and allowing other agents unfamiliar with the property to adequately showcase the property’s features? Selling a luxury property requires professional expertise and representation – fully capable of drawing attention to the individual benefits of the luxury property at hand, as well as the intricate aspects and features which make it unique.
To allow a luxury property to be open to other agents through a lockbox would be the equivalent of a dealership with Mercedes-Benz automobiles, unaccompanied by experienced salespersons to explain the specific advantages over other luxury carmakers in their class.
3. Get better photos
99% of homebuyers today are searching for properties online. What is going to make your listing stand out as opposed to the competition? An integral component is photography.
Many agents will often settle for sub-bar photography for their listings, failing to capture the mood, emotion and energy of a space which you otherwise would through an artistic approach. Therefore, it is absolutely crucial to have photography which is on par and exemplary of the luxury home in which you are shooting. In addition, taking advantage of innovative new techniques and technologies to capture the attention of the buyer.
By including uncompromising photography as a fundamental aspect of a listing, it demonstrates to potential buyers the great effort required to successfully market a luxury home, and invigorates the interest needed for a buyer to move forward with their luxury home purchase.
4. Know your product
Selling a luxury home is much like selling any other product of high worth. It is necessary to know your property inside and out. This includes: its statistics, history, story and background, the purpose of certain features of the home, as well as all of the complex details making the property what it is today. It is also important to know about the competing homes located within its vicinity. This includes both what’s active and what has successfully sold in the neighborhood surrounding.
Previewing as many properties, neighborhoods and new developments as you can is equally important. By doing so, it builds upon your expertise and knowledge in becoming an authoritative figure, enabling you to educate buyers and agents on why your property as opposed to others is the best available on the market.
5. Don’t reduce the price
While it is important to be priced competitively, lowering the price is not always the answer to getting a property sold. This is especially the case in taking on properties with previously expired listings. Often times, employing an entirely alternative approach to presentation will mark the difference between success and failure in making a sale. Sometimes, even the slightest details such as ambient sound and scent can leave a profound impression on a buyer’s perception of a luxury home.
These are just a few of the many methods for getting the most out of and ultimately selling a luxury home or property. By applying these techniques to your own listings, it will empower you to market your properties in a more compelling manner, maximizing their impact and producing the results they deserve.