Selling a home is not the easiest of tasks, but it also doesn’t have to be that hard. The level of difficulty does increase, though, when selling a luxury home. With the increasing level of difficulty comes an increased level of expertise that is required to sell a luxury home. Pricing the home correctly is extremely important whether selling a $100,000 home or and 2 million dollar luxury home! A common Real estate pricing mistake that is made is hiring the real estate agent who suggests the highest price, and in the luxury home market, this can be a huge mistake.
It is extremely important that a luxury home is priced competitively or aggressively from the beginning to attract buyers from the beginning. It is more common for a luxury home to sit on the market for longer than a lower-priced home; however, a luxury home does not have to sit on the market if priced properly from the beginning. How a luxury home is marketed is very important; print advertising and direct mailing should still be a part of any real estate agent's marketing plan. The internet, however, has significantly changed how consumers shop. This is no different in the real estate industry. It is extremely important that a real estate agent who is selling a luxury home is utilizing the internet.
It is important that the real estate agent has their own website and a blog, and that is mobile responsive as well. Many home buyers are shopping on their tablets and mobile devices. Another important advertising avenue is social media; it is an extremely important marketing tool for estate agents that can help give their clients maximum exposure! It is a marketing tool that most real estate agents don’t utilize and /or understand. Ask yourself, what percentage of people in the market to buy or sell have a Facebook page, Twitter handle, or Pinterest account? 95%+? By not marketing a luxury home for sale on social media, a real estate agent is doing their client a huge disservice! When selecting a real estate agent to sell a luxury home, it's critical to know where the luxury home will be marketed, how it will be marketed, and how frequently it will be marketed. When selling luxury homes real estate agent must have a comprehensive marketing plan and cannot list a luxury home and wait and hope it sells.
These types of real estate agents are also known as a “ Post and Pray Realtor”. When taking photographs and videos, they must be outstanding and nothing but the best. Remember the saying a picture is worth a 1000 words, how much is a video or virtual tour worth? A billion? When selling a luxury home, a professionally created video or virtual tour can be the difference of whether or not the luxury home sells.
For more information on selling your luxury home, contact The Annette Yorks group. We are certified Luxury agents with many tools at our disposal to help market and sell your home in today's competitive market!
