By Swapnil Nithya
If you are reading this, then probably you are also amongst those who are finding it a bit of a challenge to sell your luxury home. Don't worry if you find yourself in this group. Selling a luxury home isn't exactly a piece of cake but it is definitely not rocket science. With a properly planned effort and a little presentation, you should be able to sell your luxury real estate without much hiccups. Here are 5 amazing tips that should help you get started. But the more you research, the more ideas you would be able to find for selling your luxury home.
Tip #1: First Impressions Count, Make It Huge!
This is a mandatory requirement for any sales activity as you can only attract prospective buyers when you present your offerings in the best possible way. For real estate, it is important to make a very good impression on the first visit as it goes a long way in ensuring greater chances for success. Get the lawn worked upon by a gardener, fix up minor / major damages, clean the house and the surroundings, apply a fresh coat of paint if needed and just touch up various parts of the house.
Tip #2: Use Multiple Marketing Channels
When you put up luxury real estate on sale, you set your eyes on a niche group which is not available in huge numbers. So it is best to use every bit of marketing arsenal by using all available channels including online marketing, print media, videos, text ads, etc. Try and spread the word about your offer and keep scope for buyers backed by financing. This would give you more room for negotiating your offer till you reach a price that is best for you and the buyer.
Tip #3: Patience Is Definitely A Virtue!
A regular real estate sale is time consuming as it involves a lot of processes such as appraisal of property, obtaining financing, complying with legal guidelines, initiating transfer of rights, etc. With luxury homes, this gets even lengthier as your target group goes from a huge audience to a selective pool of buyers. Moreover, the different processes also need more time owing to the high value associated with such properties. Patience would definitely be a virtue here as you need to get the buyer who is willing to pay an amount that is in line with your expectations.
Tip #4: Know the Legal Formalities
Complying with the legal formalities can be quite hectic, especially when it comes to selling luxury homes. There are so many guidelines to check and multitude of documents that need to be prepared. Missing out on even one of them could result in a significant delay. Consult with an agent or a legal advisor who have experience in luxury home sales. This should give you an idea about the list of documents that you need to keep handy. It would also indicate the possible evaluations and approvals that would have to be taken before the transaction is processed successfully.
Tip #5: An Agent Could Do Wonders For You
I do not know why people have an aversion for agents. When it comes to luxury real estate sales, no one can help you better than an agent who specialises in this segment. A good agent will not only aid you in your sales but he will also tell you the shortcomings such as pricing, property evaluations, etc. These may not be very pleasing to our ears but we need to accept it as harsh realities. By working with an agent, you not only get access to his wide network of contacts, but with his experience in such sales, you would gain the benefit of faster processing of documents, approvals and financial transactions.
A Word of Advice
Selling your luxury home can be a challenging task if you have not made the appropriate preparations for the same. Make a checklist of all the things that need to be done prior to putting up the house on sale. If you are confident about your abilities and you think you can sell the luxury home without the assistance of any agent, then go ahead. But if you have even a slight doubt, then use an agent who specialises in luxury real estate sales. Once you have all of the requisites in place, finding the right buyer would not be as difficult as it seems.
Real estate is not merely a piece of land, but it is the foundation of your homes, offices and other establishments. Luxury is a treat that everyone deserves.