5 Tips for Selling a Luxury Home
Stephanie Prince Alexander
Whether it’s your primary residence or a vacation home, selling a luxury property likely means selling one of your largest investments. And selling a high-end home comes with its own unique set of circumstances to be navigated. Here, we’ll take a closer look at some tips to consider to be successful in selling your luxury home.
But first, we need to understand what makes a home “luxury.” According to Forbes Real Estate Council, “The generic categorization of luxury would be any property above grade (compared) to the rest of the market, with high-end finishes, architecture and property design.” Additionally, depending on what type of area the home is in, it might offer ocean views, ski-in and ski-out access, an immediate proximity to nature, or a prime downtown location that set it apart.
Tip #1: Find the right team
To have the best experience possible, it’s important to put the sale of your luxury home into the right hands. Let us connect you with luxury real estate experts who also have a deep understanding of the local market. They will help you price your home appropriately and know how to reach qualified luxury buyers.
Tip #2: Curate the home’s story
Lifestyle and location are two important factors when it comes to luxury homes—these are also the key components of the property's story. Think about what made you fall in love with your home. What are your habits and rituals within the space? How has it made your life better? Working with your real estate agent to share the answers to these questions will help others picture themselves in the home too.
Tip #3: Make the story come to life
The most effective marketing tools for selling a luxury home are often great photos and video that showcase every unique angle. Ultimately, success in selling a luxury home happens when a buyer feels a connection to the property. When the story of the home comes to life, you can help to capture the imagination of potential buyers, allowing themselves to picture their lives in the home.
Tip #4: Timing is everything
When you’re ready to put your luxury property on the market, it’s incredibly important to consider the timing. To showcase the home’s top features and amenities, the time of year you’ll be selling is crucial. For example, selling a beachfront home with an infinity pool during the cold and dreary off season may not be the best timing. But selling a slope-side mountain home during ski season might work well.
Tip #5: Be patient
Selling a high-end property typically takes more time since the pool of potential buyers is usually smaller—extra patience may be needed. If you have the right team in place to help you with all the tips mentioned above, the right buyer will surface, and it will be worth the wait.
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