At first glance, you might think that selling a luxury home is the same as selling any house, except that the price tag on a high end home is bigger. However, as celebrity real estate firm Hilton & Hyland note – “Luxury real estate is in a class of its own.” So, if you are looking to sell your mansion, here is some information that will help you maximize the sale price and make the whole process less stressful. You will discover:
- The top 2 qualities to look for in a real estate agent.
- 5 tips from the experts to help you sell your high end home.
Finding a real estate agent
Not all real estate agents are the same. In fact, the real estate market can attract some very unscrupulous operators. This is particularly the case when it comes to selling a luxury home, since the pay-off for the agent is so much higher. There are two qualities you should look for in a real estate agent:
The regulations are different in every state, but to sell any kind of real estate anywhere requires a Real Estate License. This is the minimum qualification.
To ensure that your agent is more experienced and qualified, look for someone who has a Broker’s License. In Texas, for example, to qualify for a broker’s license a real estate agent must have been active and licensed for 4 years, have studied for a total of 900 hours and passed the Broker’s exam.
Consider a realtor. A realtor is a real estate professional who is a realtor is a member of the National Association of Realtors – an organisation with a good reputation and a strict Code of Ethics.
Some real estate schools even offer specialty courses focused on the high end home market, such as the Accredited Luxury Home Specialist Designation, honing agents’ skills in this unique area of expertise.
Whilst having the right qualifications is essential, experience and credibility make all the difference, especially when it comes to selling a luxury home. Research carefully, ask for references from satisfied clients and seek out information about previous sales and the figures the prospective real estate agents have achieved. Selling a high end home is a collaborative effort, so ensure you engage an agent you can work with, not against.
5 Luxury Home Selling Tips From Real Estate Experts
Once you have engaged an agent, you will work with them to secure the best possible price for your luxury home. Here are 5 tips from some of the top real estate experts in the high end home market – experts who regularly achieve multi-million dollar sales.
TIP 1: First impressions are critical
You only have one chance to make a good first impression on a prospective buyer, whether they see your property for the first time through media or in person. Edward E. Longley, CEO of The Hollingsworth Group advises to always get your property photographed and filmed by a professional. Accentuate the positives and try to capture the unique spirit of the place. Great photos or a video tour will grab a buyer’s attention as well as helping create an emotional attachment to the property.
TIP 2: Carefully prepare the property for showings
A perfectly prepared property can sell for 5-20% more and the key to success is attention to detail. Consider engaging a professional staging company to bring life to an empty house and turn it into an attractive luxury home that will grab the attention of a high end buyer. Raymond Bolduc, who recently sold a $20m property in Miami Beach, often stages an event to highlight the unique personality of a property and help buyers to imagine what their future could look like in the home.
TIP 3: Market your high end home through multiple channels
Drew Fenton, named as one of L.A.’s Top 20 Real Estate Agents, recommends using online, print and other advertising channels to increase your property’s level of exposure. Of course, it’s important to select media that target the luxury home buyer audience.
TIP 4: Don’t rush the selling process
Try to avoid feeling pressured when you’re selling a property, as this can make buyers nervous, create friction with agents and even cause you to ignore sound advice about market trends. Clif Chase, of Chase International notes that often those who can afford a high end home are less affected by economic fluctuations.
TIP 5: Add incentives to ‘sweeten’ the deal
Buyers in the luxury home market often appreciate the finer things in life, so consider throwing in some extra incentives to motivate your buyer. Furniture, art works or even cars can all create the extra leverage that you need to close a deal and get the price you are seeking. Realtor.com advises researching the interests of potential buyers and enticing them with incentives that connect with these needs. Selling a house near a country club? Offer to pay the first year’s membership for your buyer. See more : http://www.vancouver-real-estate-direct.com/news/
So, ready to sell your luxury home? Make sure you have an agent who has more than just a Real Estate License! Look for someone with both qualifications and experience in the high end home market. Follow the Top 5 Tips and your real estate experiences will be both profitable and successful.