Important Tips for Selling your Luxury Home

Pricing Right - Have your broker provide you with a thorough Comparative Market Analysis. This should include similar calibre homes in the neighbourhood or similar neighbourhoods. Often times, homes are so custom that it is difficult to find a home with the same square footage or lot size but location and neighbourhoods should be of the similar quality. An experienced broker will know how to compare and contrast and adjust for differences in views or water frontage or boat dock size. Even though some luxury homes may have the same square footage - knowing every detail and custom amenity is critical and knowing how to apply value to those amenities while staying competitive in the marketplace

Impactful Marketing-the majority of buyer start their search on the Internet and a great impression can be made or lost within the first few seconds. Marketing with high-quality photography and video and knowing how to optimize the Internet and virtual tours to maximize the number of photos that can be displayed is critical, Krista Cherry, Broker Associate/Owner

Timing- Hitting the market at the high season for that area will maximize exposure and amenities of the home. Marketing a boat dock home, for example, should be done in the spring and summer months when the boating industry is in full force.

Staging is a critical element in marketing a luxury home. The home should portray a certain lifestyle that a potential buyer may perceive. It should be neutral enough to add vision for the buyer but impactful enough to give the sense that life in this home will be luxurious and provide a wonderful lifestyle for entertainment, gatherings, ease and family.

Showing-Typically homes of this calibre should not help open with the typical "open house" other than broker tours (very important) and by invitation only to neighbours and other qualified buyers. Typical open houses will attract curious passers-by wondering how the "other half lives." Most importantly a listing representative should always accompany buyers and other outside agents to the showings so s/he can be sure to describe and point out all the amenities of the home and neighbourhood that may otherwise be missed.

Patience in waiting for the right buyer. Only a small portion of the general market can afford to buy in the luxury market so a broker who understands the typical sales cycle of marketing time to sale is extremely important in marketing and pricing the home correctly.

If you are looking for a qualified agent with experience in the luxury market and the details above, we would love to talk to you. Our consultations are always without obligation and our marketing plans are customized specifically for your home.

Written by: Krista Cherry, VC Property Shoppe

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