Selling any home is a challenge. That’s been especially true in 2014, a year in which the number or existing-home sales has fallen. The National Association of REALTORS(R) reported that April was the first month this year in which year-over-year home sales actually increased. And that increase was a modest one, with sales rising just 1.3 percent in Aril when compared to the same month one year earlier.
And if you’re selling a high-end luxury home, one with a price tag higher than $1 million? Then selling your home is even more of a challenge.
After all, there are far fewer potential buyers for a home with a price tag that’s north of $1 million.
Fortunately, there are steps that the owners of high-end homes can take to move their pricier properties this summer.
Work with an agent with luxury experience: Selling a luxury home takes far more time and connections than does selling a traditional home. Because of this, you’ll want to work with a real estate agent who has years of experience selling million-dollar homes. Such a professional will give you the best chance to sell your luxury property in as short a time as possible.
Reach a wide pool of buyers: Again, not as many potential buyers can afford to spend millions on a home. This means that you have to reach as many of those buyers who can. Your experienced luxury agent can help. The best agents won’t simply list your high-end home on the Multiple Listing Service. They’ll also advertise in trade magazines read by lawyers and physicians and advertise your home on Web sites that appeal to wealthy consumers.
Don’t discount networking: Your biggest tool in selling a high-end home? The contacts that your agent knows. High-end agents work closely with other real estate pros who specialize in selling luxury properties. They will talk up your listing to agents who have their own high-end clients who might be looking for a home with an indoor gym, wine cellar and home theater — a home just like yours.
Stage your property: Staging works wonders for any home. By arranging your furniture, art and personal memorabilia — and by putting much of it in storage — you can make your home look bright, airy and even larger than it is. Staging is especially important for high-end properties. The buyers of pricier homes are discerning. They won’t spend their dollars unless your house is perfect for them. By staging your home, you showcase it at its absolute best. This boosts your odds of finding the right buyer for it.
Create a virtual tour: Luxury buyers are busy people. They don’t have time to waste touring homes that aren’t a good fit for themselves and their families. This is why virtual tours are so important. These online tours allow potential buyers to view your home’s exterior and interiors from in front of their computers. This way, if they spot something they don’t like – a kitchen that’s not modern enough or a backyard that’s too small – they won’t waste their time or yours by scheduling a personal tour of your home. Make sure your virtual tour showcases your home’s best features. If your home boasts an updated master bathroom, make it a focal point of your tour. If it butts up against a stream and woods, make sure to include plenty of outdoors footage.
6705 Red Road Suite 508 Coral Gables, FL 33143