Making the Difference
When it comes to selling your luxury home, it’s best to hire a listing agent who knows their stuff. The meticulously tailored services required for a high-end listing only comes from the most dedicated Realtors who are extremely knowledgeable in their market. They have carefully built their network of resources in order to maintain their luxury clientele and listings. Here are 3 things that set them apart:
Attention to Detail
With an increased level of financial investment needs to come an increased level of expertise in Real Estate. There’s no “winging” it when it comes to marketing a million dollar listing. A knowledgeable agent creates tailored plans for their listed properties. They know the stakes are high and the listing must be flawless in its presentation. A luxury Realtor provides concierge-quality service from the many vendors they have built trusted relationships with. They provide solutions to anticipated problems so their clients are confident and the process won’t hit any snafus. Dedicated marketing professionals help them create content, marketing materials and buzz around your luxury home. That could mean drone photography, a unique website, a press release, or an editorial-style ad in a glossy magazine.
Knowing the Market
Timelines and expectations are different for the luxury market and having an expert Realtor who knows how to manage those well, is crucial. They know it’s paramount to have an accurate listing price on your home from the beginning. Correctly pricing any home comes from experience in the market, and is especially important for high-value properties. Typically, a luxury home will be on the market a bit longer than the average priced home. A luxury Realtor will have the resources to keep the marketing material fresh throughout that time period.
Alternately, when shopping on the luxury market, your Realtor will know what’s available through their professional network. Many high-end sellers prefer discretion and privacy and it may not be widely known a certain home is for sale.
Knowing the Buyer
Catering to the needs of buyers in a luxury market is nuanced, tactful and very deliberate. Selling a luxury home is about selling a lifestyle because high-end homebuyers appreciate the finer things. Many luxury agents will tell you that a new listing is treated like the launch of a new product.
Staging is crucial for any home, but particularly a luxury one with a lot of space to fill. Making the expansive square footage feel like home is something a luxury agent can do. Many of these properties have unique features that make it architecturally significant, which should be showcased. Whether that’s opening the veranda or having the spa jacuzzi rolling with a chilled bottle of bubbly— making the luxury buyer imagine enjoying themselves is key. Even the type of catering your agent chooses has an effect on the buyers' perception of the property and a top-dollar agent will spare no expense to get it just right.
A knowledgeable Realtor will also nix the public open houses for certain listings. For an average listing, an open house invites curious neighbors and Real Estate voyeurs along with potential buyers. But, the clientele in a luxury market prefers discretion and VIP treatment. It’s not an open house, it’s a launch party for the listing. That being said, having an agent or broker open house could be an effective strategy as well. Many affluent buyers will shop for agents— not homes. They appreciate the value of expertise and the exclusive networks those Realtors have built in the well-guarded luxury market.
Finally, handling clientele that is not only used to getting their way but also dealing in large sums of money, it is imperative to keep negotiations professional. It is not for a novice or the faint of heart.
Susan Stynes of River City Elite is a Certified Luxury Home Marketing Specialist.