Selling a luxury home is undeniably in a class of its own. Real estate agents that deal with this niche market can attest to the importance of marketing in an established business network and affiliate sources in order to facilitate a sale. A higher price point equals higher expectations so in order for the buyer’s expectations to be met, your home has to measure up against the preconceived standard of a superior constructed and finished home.
Outside is the new inside. The first thing a buyer is looking for when they pull up to your property is whether or not your home represents the price tag through its curb appeal. A well landscaped yard is imperative to first impressions and an impressive backyard space leaves a lasting one. Container plants add beautiful welcomes to entrance ways and patios where potential buyers enter and exit the house. Add a fresh layer of mulch to garden beds. The colour provides a dramatic accent to surrounding plants and creates a visually pleasing display. Shape up shrubs and give overgrown trees a trim. Power wash patios and exteriors and restain stairs and surfaces that are faded.
Showcase your interior to its highest potential. The staging of luxury property involves creating an exceptional theme within a neutral palette with powerful pops of color compliments. Hiring a professional home stylist can make a huge difference. The staging company can rework your own furniture and art decor or can bring in furniture, lighting, artwork, plants, and all accents if required. Staging will transform any home into a stylish, must have that appeals to the luxury buyer. High end buyers are especially visual, so a fabulously staged home will help them to envision themselves amalgamated into the space.
Do not overprice high-end real estate. With the hot real estate market in Greater Vancouver and the Fraser Valley, sellers may think that they can push the price tag slightly higher to give themselves some wiggle room. From a luxury home standpoint, this may represent a substantial increase and should be avoided. To remain competitive the property should be offered at market value keeping aligned with price per square footage for the area.
Effective advertising and marketing requires exposure through a multitude of channels including print, online, and social media. Professional photos and a virtual tour is a must have. In addition, promoting the community and neighborhood and the entry into a particular way of life can be a desirable motivator for potential purchasers. Further, an agents personal brand can create credibility and a real estate agent with an established network inclusive of other agents, can leverage their business network to help gain traction and get their high-end buyers and their agents to set up a private viewing of your home. Public and Agent Open houses, where agents and potential buyers are personally invited to a catered 'preview' event can be extremely successful.
Listing, staging, marketing and ultimately selling high end real estate requires expertise, experience and strategic negotiation skills. It can also take flexibility on the part of the seller. I have experienced high end real estate deals come down to the furniture item that was requested by the buyer to “sweeten” the deal. Although an insignificant portion of the cost, it helped the buyer establish an emotional connection to the home. (My seller naturally obliged.)