Selling a luxury home is unlike any other real estate transaction. The marketing is different, the potential buyers are different and the entire sales process is as well. Buyers and sellers at this level are more experienced and sophisticated demanding a level of expertise and service they are accustomed to in their own businesses.
We hear from our luxury home clients that they found locating the right real estate agent to handle the sale the most challenging part of the process.
So, we came up with four qualities you should look for when choosing an agent to assist you in the sale of your luxury home.
Nobel Prize winner Albert Camus nailed it when he said that “You cannot create experience, you must undergo it.”
Agents experienced in the luxury home market are the only ones who understand the nuances of this market
Everyone else guesses and sadly, often miss the mark. That’s something no homeowner can afford.
When shopping for an agent, whether you plan on buying, selling or doing both, look for one that has experience with luxury homes and with high-end clients.
Cookie-cutter marketing plans don’t work with expensive real estate. While online advertising is critical to a marketing campaign, luxury home marketing sometimes requires more extensive and targeted marketing.
Exceptional photography, copywriting, and product positioning are skills that set the top agents’ marketing apart from the others.
State-of-the-industry digital marketing should be top of your list in today’s market where 100% of buyers are searching for home on the internet.
When selling an expensive home, look for an agent that uses all of the marketing tools at her disposal. Expecting an ad in Luxury Home magazine to sell your home is wishful thinking in today’s world.
Regardless of experience, if the agent you’re interviewing runs his business on a shoestring, it’s highly unlikely that he’ll be able to afford the extensive and expensive marketing strategies required to sell a luxury home.
Remember, attracting the affluent buyer requires more than a listing in the MLS
It may require shooting video, drone photography, and other creative executions not necessary for more mainstream homes.
Don’t be afraid to ask not only how the agent will market and advertise your home, but how he or she will pay for that as well.
Another challenging aspect of listing a luxury home is setting the appropriate price. Since prices are based on the sales price of homes in the same general area, it’s vital that your agent is familiar with the market.
A good luxury home listing agent not only knows what has sold recently, but has seen the interiors of the homes personally. She is also familiar with homes currently on the market.
This familiarity is the agent’s best tool when determining a list price for your home
Don’t trust the sale of your luxury home to any agent that can’t provide details of his or her experience, marketing know-how, budget and local market familiarity.
Want to talk further? We’re always happy to answer any questions! Let’s schedule a conversation!