The sale of a luxury property, differs slightly from selling any other more modest home or property. Below are four tips to help you sell.
1) If there needs to be changes or refurbishments, it’s better to leave it as it is.
Any potential buyer who has the budget to invest in a property of this style, will most likely end up doing some renovations (even a minimal amount), to make the house to his liking. Therefore, it is not worth the seller investing the money to leave the house in perfect condition.
2) Engage a real estate agent who has experience selling houses of this style.
You have to know how to choose the appropriate broker, who will know how to get the potential out of the property. Therefore, the chosen agent, in addition to being a real estate adviser, must also be an interior designer, builder, architect, tax adviser and even legal adviser.
Like all intermediary work that is well done, there will be a commission charge. As the transaction amount is high, the commission in principle will also be high. This is a very big incentive for all real estate agents in the area to say that they are qualified to sell luxury homes. It is not enough just to appear to be luxury property agents, as it is much more difficult to do in practice. For this reason, it’s vital to spend some time looking for the agent most in tune with you and your interests in order for the sale to materialise.
3) Be discreet where to publish the property
I think it is standard practice. When we intend to buy something of high value, the first thing we all do is look for information on the internet. When you intend to buy or rent a house, we do the same and we do it to gauge prices.
Therefore, it is normal for a luxury property to be advertised on the internet. However, this promotion must be appropriate, in the same way that is done in offline advertising. Is it true that we will never find a high-end car advertised in supermarket brochures? The same goes for any promotion of any luxury home.
The real estate agent you select will know which channels to choose to reach the right target audience, and will have personal and professional relationships at the same level as the buyer and the seller. Not all agents have such relationships and not everyone knows how to access them. Often these relationships have been built over many years of experience. In most cases, first contact is often made through another intermediary. This trusted person has been delegated the responsibility by the buyer in seeking the property in question and can either be another agent, their manager or their lawyer. The buyer does this simply because he trusts him, and the intermediary will know what the buyer is looking for, understands his needs and have enough time to perform the search. Having access to these contacts is important, to ensure good sales management, and the know-how to contact the right real estate agent. In addition, they are special properties, both unique and highly identifiable. If a selective promotion is not done, too many people will know about it and there may be serious problems regarding privacy and intrusiveness. 4) Not only must you hire an agent specializing in this type of property, they must also be a specialist in the area. Sometimes, market trends for luxury properties are very different to market trends of more modest properties. It is important to find the agent, who really understands the current market conditions for these types of properties, and can advise you accordingly on the best actions to take.