The world of luxury property sales is unique in both the value they represent and the audience they target. The challenges of being a real estate agent focused on this type of property range from knowing your type of client to having a high level of patience since these properties are much more difficult to sell than cheaper ones.
The marketing and selling of a luxury house must always be meticulous and pampering for the customer to be confident that the home they are contemplating purchasing is actually luxurious.
Any flaw in a luxury home’s presentation can nearly always result in a drop in sales. Everything about it, from the pricing to the marketing, must be optimized and tailored to the ideal clients. The further you go up the pricing scale, the more you’ll have to make well-considered actions to appeal to a particular group of buyers who have much money to spend but with high expectations for what they’ll be getting.
Simple homes are tied to the world of necessity, while luxury homes transport their buyers to worlds that only they can imagine and pay for. But the fact that luxury real estate caters more to whim than necessity means that investors’ criteria can be more extravagant and, therefore, more difficult for consultants to satisfy.
The strategy to promote these luxurious properties is completely different from that of an average property, so it is advisable to consider certain factors before going to market.
Here are the top 5 tips for selling your luxury home online with ease, whether you’re selling through a real estate agent or on your own.
1. Sell More Than Just the Property
Emphasizing the high standing of a home can play a relevant role in its sale; this can be taken advantage of by real estate consultants. These buildings are no longer considered simply “houses.” In the higher price segments in different parts of the world, a luxury property can be advertised as a beach chalet, a vacation retreat, or even a pied-à-terre. Taking advantage of the concept of luxury living is essential to successfully marketing a high-end property.
The most crucial step for you as a homeowner is to determine what aspects of a luxury home are compatible with your property. Is your home near a golf course or marina? Do you have in-demand facilities like Jacuzzi or tennis courts? When selling luxury properties, each of these elements can and should be employed.
2. Promote Your Luxury Property with Quality Graphics and Video
Hire a professional photographer who can capture the attractiveness and unique details of the house in each shot. It is much easier to fix the decorations and furniture before the session than to make adjustments in Photoshop and be faithful to what they will see in person. Do not skimp on expenses, and make sure that the photographs are professional. Doing the session during sunrise or sunset will give the image a certain appeal.
Also, consider making a video of the property in high quality with a person who describes what you see on the screen. Do not abuse the texts on the screen or the music. The more uniform, the more attractive and professional it will be.
To sell a luxuryproperty, you need top-quality material and promote it in the appropriate media. A memorable description, photos taken by a professional photographer, and a high-quality video will attract quite a few prospects.
3. Giving a reasonable price for great value
The appropriate pricing for a luxury home is undoubtedly the most significant element in the marketing mix for selling a luxury home online. Putting a price on a luxury property, on the other hand, turns out to be more art than science.
After all, no two luxury homes are the same since it’s not feasible to compare their physical location, square footage, special amenities, and overall home condition.
The market will swiftly evaluate the property’s position compared to other luxury properties for sale in the region.
Luxury home buyers highly value their time. If they feel the house is overpriced, they may not even bother to go look at it, or they may think you’re “crazy” or think you’ll be insulted by their low offer.
4. Know your targeted audience
To reach your potential client, you must know how they tend to think, their needs, tastes, preferences, and life habits. You must always remember that this class of buyers is far from ordinary and does not have financing problems.
Setting a specific or common profile for the buyer of this type of property is very difficult, so in order to know who your most potential client is, you must know how to translate the characteristics of a luxury property into benefits such as prestige, social recognition, respect, privacy, exclusivity.
This task is challenging, which is why you must create an Informative Document that has all of the data, which will take you 1-3 weeks to complete.
Only by thoroughly understanding the luxury property will you be able to produce a compelling description that does the house justice, validates its price, and appeals to the target audience. We recommend postponing taking the photographs or recording the video until after you’ve finished writing this description since the description will instruct you on positioning your advertising video and images.
5. Use storytelling to your advantage
The descriptions of the properties are usually a very square explanation of the spaces and characteristics of the property. Your job will be to create a storytelling-style story; review the colony’s history, places of interest, and curious facts: if any famous person lived there, for example.
Selling an $80,000 property in Washington DC requires a different strategy than selling luxury homes. The five tips discussed above should be followed for a luxury home sale to be fast and successful.
However, keep in mind that keen and knowledgeable consultants usually represent many Washington DC luxury homebuyers. So, you should work with a competent luxury real estate agency like The DC Team. We are informed, competent, acquainted with the local market, and capable of implementing the most effective marketing methods for your needs.