6 Tips 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. Use OrganizeMeForms™: Sellers Homework, Utility Info, Rental History, Remote Seller, Tenant Info, etc. 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!

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