Listing a Luxury Home: 5 Tips for Real Estate Agents
Breaking into the luxury market is every agent’s dream. After all, listing a luxury home means a higher price tag. And a higher price tag? Well, that equals more commission.
But what does it take to actually sell that high-end property once you snag one? And how can you make sure you get top-dollar when you do?
Follow these 5 tips for listing a luxury home
1. Focus on quality, not quantity.
With more affordable properties, the more potential leads you get, the better your chances are of selling. But with luxury real estate, that’s usually not the case.
On these homes, you’re looking for a very specific set of buyers — and there usually aren’t too many of them out there. It means switching your mindset from “I’ll cast the widest net possible to find a buyer” to “I need to be very strategic about where and how I market.”
2. Get networking.
A lot of those higher-end buyers aren’t going to be just cruising Zillow in their spare time. In this sector, potential leads are more likely going to come from other agents, partners, or movers and shakers in the community, so get out there and start meeting people when you’re listing a luxury home.
3. Up your photo (and video) game.
Many luxury buyers are purchasing from out of state (or even out of the country), so your listing assets are going to play a huge role in your ability to sell. Make sure you’re investing enough in photography, videography, and 3D tours and walkthroughs. You might even include an aerial drone video in there, too (especially if it’s an expansive property).
4. Skip the open house when you’re listing a luxury home.
Open houses have kind of fallen by the wayside anyway, thanks to COVID, but in the luxe sector, they’ve never really been effective. Again, this goes back to that quality-over-quantity mindset.
Additionally, open houses in the luxury world can often attract lookee-looks — window-shoppers with no real intention of buying the property. That just wastes your time and opens the home up to potential damage.
5. Help your sellers.
The luxury sector is all about who you know, so make sure you serve your sellers well (they could offer high-dollar referrals later on!).
And if they’re buying a new house in place of the old one? A highly-rated mortgage lender like Embrace Home Loans can be of great help. Our loan officers can guide the way no matter where they’re buying.