Luxury Property
6 Secret Tips for Selling a Luxury Property
6 Insightful Points for Agents Selling a Property in a Luxury Home Market
1. List Price. Based on comps you need to make sure the property is priced well. The last thing you want is to have an overpriced listing that you’re spending a ton of money marketing and you’re not attracting any serious buyers. You’ll end up frustrating your sellers and yourself with little showing activity. Some agents want as many listings as possible and will let the sellers determine the list price knowing full well that it’s overpriced and will lose momentum by being in the MLS for several months. That’s a “Lose-Lose” situation. You need to discuss the comps with your sellers and advise them on what the list price needs to be in order to sell their luxury home in a reasonable amount of time for that market.
2. Property Photos. Hire a professional photographer to take amazing photos of the property. You’re going to be placing the photos in high end marketing materials so you want the very best quality photos possible. Without a doubt, outstanding photos will attract prospective buyers for your luxury listing.
3. Home Inspection. Advise the sellers to have a home inspection done (not necessary if it’s being sold “as-is”). This is especially important if the property is older. By doing so, you and the sellers will know what items need repaired and each can be resolved (with qualified referrals you give the sellers) in a timely manner soon after you’ve listed their luxury property.
4. Marketing Materials. You should have a current survey, aerial photos, property photos, virtual tour and feature sheets. Advertise their property in high end magazines and publications. Having outstanding marketing materials will help sell the property and show the sellers why you’re the most qualified agent to showcase their luxury home to prospective buyers.
5. High-Tech Systems. Make sure you take the time with the sellers to learn how all the high-tech systems function (take good notes!). When you’re showing the property or holding an open house you need to fully understand: interior and exterior lighting system, security system, hurricane shutters, audio system, pool/spa controls etc. This is especially important if the home is vacant and not owner occupied. You will be responsible for properly staging this luxury home so it shows like a rock star. Knowing how to operate all the high-tech systems interior/exterior of your luxury home listing is imperative.
6. Communication. Communicate regularly with your sellers. Great consistent communication with all sellers is important, but sellers in a luxury home market are typically very successful, detail oriented, Type A personalities. You MUST be highly organized (using OrganizeMeForms™ will help get you there) and communicate frequently with your sellers on showing activity, showing feedback, open house feedback, marketing initiatives etc. Sellers expect their agent to be a great communicator. If you succeed in the communication department you’ll be rewarded with their referrals and repeat business for years to come. That’s your goal!!
Disclaimer: The opinions expressed in blogs on this website are solely those of Marcy Sanders. The information provided on this site is for general informational and educational purposes only.
OrganizeMeForms™ (85) Exclusively Designed Real Estate Forms & Checklists – Providing Real Estate Professionals, their Customers and Teams with a unique collection of detailed forms to keep them on-track with task management. The solution agents have been waiting for!
Avoid These 10 Mistakes When Dealing with High-End Sellers
Missteps Listing Agents Should Avoid
- Lack of Communication. Not consistently communicating with sellers. Sellers want to be kept up-to-date on all activity surrounding the sale of their property.
- Not Pre-Qualifying Buyers. Always make sure prospects are pre-qualified before showing the property.
- Ineffective Marketing. Sellers will insist that you have an impressive and comprehensive marketing plan. Have a variety of aerial photos taken and mark the property lines on them. Create fabulous flyers and feature sheets. Advertise in luxury home magazines.
- Unavailable for Showings. Sellers will want you to be present during all showings (not your Assistant!). Make time prior to each showing to expertly stage the property.
- Not Tech Savvy. High-end properties will typically have very expensive and complex lighting, alarm and sound systems. Make sure you spend enough time with the sellers showing you how it all works and take good notes. If the property is vacant, feel free to use sticky notes on switches and controls so you remember how they operate.
- No Inventory List. If the property is being sold with all contents included in the sale you need to immediately do a full inventory of every item in that property. Make sure the sellers advise you what items are personal and they’re taking with them. Have the sellers review and sign off on the inventory list.
- Lacking Keys & Clickers. If the property is vacant make sure that you get all keys for doors, windows, garage, attic access door, boat lift as well as gate and garage door clickers etc. Collect all of those from the Sellers when the property is listed and keep them in a secure place. If a home inspector needs any of those keys during an inspection and they’re not available, the sellers will blame you.
- Not Monitoring Their Property. If this isn’t the sellers primary residence, you’ll have a second job title “Mr/Ms Home Watch.” Sellers will expect you to be their eyes and ears if anything is going wrong with their property i.e. pool isn’t being cleaned, grass isn’t being cut, A/C isn’t working, toilet overflowed, damage from mother nature, etc. Update sellers on the condition of their property on a weekly basis.
- No Impressive Realtor Tour. Sellers will want you to hold a grand broker’s open for your fellow agents and brokers. Be creative and make sure you have delicious food and beverages available. They’ll stay longer if you do! Don’t forget to use the OrganizeMeForms™ “Realtor Tour Sign-In” form so you know who attended and capture their invaluable feedback to share with your sellers.
- No Market Updates. Your sellers will want to know what similar properties in their neighborhood are new, pending or sold. Add your sellers as prospects in the MLS so they get automated email notifications of market activity for their area.
Disclaimer: The opinions expressed in blogs on this website are solely those of Marcy Sanders. The information provided on this site is for general informational and educational purposes only.
OrganizeMeForms™ (85) Exclusively Designed Real Estate Forms & Checklists – Providing Real Estate Professionals, their Customers and Teams with a unique collection of detailed forms to keep them on-track with task management. The solution agents have been waiting for! Start using OrganizeMeForms™ today and soon you’ll be on your way to becoming a successful top producer.
Fabulous Ideas For Marketing Your Luxury Lot Listing
Marketing Your Lot Listing in a Luxury Home Market
Listing Agents – Have a current survey done on the property. Get aerial photos and video of the lot (drone technology!). Using a photo editor program draw the lot lines on your aerial photos and make color prints. Take some great pics of the lot at every angle. Questions for the seller — Who are the utility companies, city water or well, sewer or septic, who maintains the lot? You need to be creative in advertising your lot listing. You should periodically hold an open house, weather permitting, just like you would for a house or condo. Advertise it!! Put up open house signs with balloons and have your exceptional marketing materials displayed on a table. Bring some chairs and have a cooler of bottled water to hand out. Look professional and ready to meet prospective customers and anyone interested in building a house on a great lot in that neighborhood. This is a fantastic opportunity to not only showcase the lot you’re selling, but also to highlight your creative and unique marketing techniques.
Disclaimer: The opinions expressed in blogs on this website are solely those of Marcy Sanders. The information provided on this site is for general informational and educational purposes only.
OrganizeMeForms™ (85) Exclusively Designed Real Estate Forms & Checklists – Providing Real Estate Professionals, their Customers and Teams with a unique collection of detailed forms to keep them on-track with task management. The solution agents have been waiting for! Start using OrganizeMeForms™ today and soon you’ll be on your way to becoming a successful top producer. Click on the button below to order now!
