How To Market A Luxury Home: 6 Must-Follow Tips From Top Real Estate Agents

Posted On April 7, 2017 | by Qdeveloper | in Luxury homes
luxury home marketing

Luxury homes are absolutely different from the regular homes. They have unique and high-end features that not everyone can appreciate or afford. Hence, its buyers too will not be the regular folks. Therefore, if you are an owner of a luxury home and wish to sell yours, it is a must that you follow a different approach to luxury home marketing.

Its unique features must be marketed properly, so that they are highlighted well and comes into notice of the potential buyers. Whether you are luxury real estate agent or the owner of a luxury home, you need to follow certain rules to make sure that the luxury home is sold in a timely fashion and for a fairly high market value.

Here are the 6 must-follow tips from the top real estate agents of the country and abroad.

1. Pay attention to details

Given the fact that only those, who can afford or do have a taste for class and sophistication, will be willing to buy your luxury home, it is a must that you market even the finest of details of your house.

From the porch to the tiles or marble that you have used on the floor, from the lighting to the furniture that you have installed, even the bathroom fittings need to be highlighted and brought to the notice of the potential buyers. Nowadays, most of the online home buying and selling platforms give you the option of specifying all of these things. Make sure that you mention even the minute of the details.

While you pay attention to the details, the spellings should be carefully written, so that the impression is strong and bold.

2. Photography as an essential part of marketing

Whenever you enter a real estate business listing site online, what is the first thing that you look out for? It must be the photographs of the house that you want to buy. Photographs give you a clear idea of what the luxury homes actually look like.

However, it is not just any photograph that will project the house beautifully and properly to the potential buyers. All the features, specifications, space availability, rooms and their positions and which way they face, need to be projected through the photographs.

In fact, lighting is very important in that case. With lighting, even the ordinary corners of the house look stunning and attractive. The photographs should be taken during different parts of the day, so that the light setting and the beauty of the house during different parts of the day can be clearly understood by the potential buyers.

  • Hiring the professionals

Therefore, it is always important that you hire a professional photographer for this task. There are professional photographers, who are skilled in the task of taking photographs of beautiful and luxurious homes for the purpose of marketing. The professionals will use lens that will help in taking wide angle pictures for a better idea of the space.

  • Videos and Virtual Tours

Along with the photographs, what is equally essential in the recent times is the use of videos and virtual tours. Videos are very useful to market the property on platforms that support this media format. Since it is not always possible for the buyers to get a complete picture of the home through a bunch of photographs, videos can be an excellent choice.

However, if you can afford, you can always go for a virtual tour of the luxury home. You need to set the tool in a place that will help you to create a virtual tour of the house that the potential buyers can walk through.

3. Price it properly

This is one of the most important tips that you must keep in mind, while you are thinking of selling your luxury home. Pricing is very crucial, when it comes to finding a buyer for your property. Buyers are very smart in the recent times. Whether your buyer is an investor or just an admirer of beautiful homes, who doesn’t really bother much about the use, everyone will be concerned with the pricing. The buyers always consider the real estate market during the time of the purchase.

Hence, the price must be compatible with what the market allows and quotes for such luxury homes. You need to be realistic here. Do not go too overboard with the pricing, as a tremendously high quotation would only result in creating a notion that you are not serious about selling the property and this will result in losing potential customers. You can always consult a luxury real estate agent, who has the idea and knowledge of the current real estate market and help you quote the right price.

  • Consider the features

But here you must also keep in mind that you should not ignore the features and factors that actually contribute to the luxury of the property and increases the price of the property. After all, you have invested so much on every single detail of the property with the expectation of a good return, when the time comes. Why would you want to earn less? Quoting the price low would help you to get many buyers and sell the property much faster.

  • Be ready to negotiate

In case you are in a hurry, you should consult with a broker, who will be able to help you to get more potential buyers. They will help you with the right price and also guide you about the right path to negotiation, so that you can sell the home faster and that too, without making any loss. What many people do not understand is that negotiation is an easy way to increase the price. So, even if you drop the prices initially, you can bargain and bid for the higher prices. You can also check the tips to increase the property value of your home.

The factors that usually control the right pricing of the property includes the period in which you are putting up your luxury home for sale, the market price during that period and also the psychology of the buyers regarding how much they are willing to pay. Regardless to mention, the internal features should be considered while determining the price.

4. Effective marketing channels

Along with the price, photographs and detailing of the luxury home, it is also very important that you market the home in the right places. This will make sure that most of the potential buyers get to know about the home. In the current time, one of the most widely propagated marketing options is the multiple listing service or MLS. These are the websites, where you get to find many of the available homes that are ready to be sold or bought and you can always customize your search.

However, if you are thinking of these MLS channels, you need to make sure that you hire a skilled professional, who will be able to optimize your entry properly for the search engine. The SEO will ensure that your entry comes to the notice of most of the potential buyers.

But of course, the MLS or the internet still isn’t the only option that is popular in the open market. There are still many buyers, who are not that tech savvy or do not trust the internet for such a huge financial investment or purchase. They trust the real estate agencies or real estate companies that directly sell the homes. Sometimes, they have their own internal broker and agents, who will help you to get in touch with the potential buyers.

5. Things to remember about the offline marketing strategies

Now that you have known about the importance of the offline marketing alongside online marketing, it is crucial that you a luxury real estate agent, who is learned in marketing your luxury home offline. The things that are crucial, include –

  • Open house

It is a matter of debate, whether open houses help in the sale of an expensive house or not. Even if it does, it is of no importance for the luxury homes. This is because; the luxury home buyers would not come and decide buying a home through an open house. Open house will usually welcome people, who are simply interested in knowing how the rich and the famous people live.

  • Printing brochures

What can help, instead, is to print high quality brochures with glossy papers and with high quality images and description of the entire property. Always remember that the luxury home buyers would be the rich and the cream of the society, who are usually very much attracted to brands. Make sure that all the brands like the kitchen appliance brand, the bathroom fitting brand, lighting brand or the tiles and floors and even the furniture brand and details are clearly mentioned in bold and prominent fonts, to attract their attention.

The brochure must also convey a story about the town homes and the neighborhood. Always remember that you are selling a lifestyle and not just a home. This will help you to manipulate the minds of the buyers, which is an essential role of the real estate agents and marketers.

6. Staging the home

Staging is an essential part of the entire selling process and in case of a luxury home marketing, it is very important that you stage the home rightly. Staging means, making sure that the right thing is at the right place, so that it draws attention of the buyers and also does not make the buyer uncomfortable.

There are professional stages, who can help you in this task. They will remove all the clutter or unimportant things that you might have, flaunt your possessions and display the features boldly that will only attract the buyers.

How should the Luxury Real Estate Agents start their Marketing tasks?

If you are a luxury real estate agent and a marketer and have the responsibility of selling a luxury home, it is important that you follow these tips. However, there are a few things that you need to keep in mind, before you start.

  • Go through the data

While you help in determining the market value and price of the luxury home, you need to go through the data thoroughly. The luxury homes that are for sale in the given period should be taken into consideration before determining the price.

  • Call other real estate brokers

As you have gone through the other luxury homes up for sale in the neighborhood even in the same city, it is crucial that you get in touch with another real estate broker, who has recently sold a luxury home. He/she will have an idea of the actual market price that sellers are willing to pay in the current market. This will help you in fixing the price.

  • Take the unique features in consideration

No two luxury homes would be identical. Hence, to price the home rightly, you must consider its unique features.Now that you have understood, where you need to start from, you should be patient enough to understand that selling a luxury home is not an easy job. There is a huge lot of money that is engaged into this. You should not rush too much, or else, you might lose a potential buyer. Before you decide for luxury home marketing, seek the help of the agencies in India that can help you in this task. They not only sell the flats and apartments, but also the luxury homes.

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