It's all in the details.
The limited number of top-tier buyers in the market poses unique challenges when listing and selling luxury real estate. Here’s what to do to get the best offer.
If your luxury home is filled with expensive décor, rare art, and pricey personal effects, you need to be especially discerning when it comes to people expressing their interest in buying your home. You don’t necessarily have to rely on the MLS – soft techniques such as offering to sell the home only when the right buyer comes along work well for luxury real estate.
Just like you, luxury home buyers can be as keen on keeping their real estate purchases private. As a seller, you need to be mindful of what you say to other people about the transaction, or if you should be talking about it at all. Keep things under wraps and make sure all information and text and email exchanges are secure.
If you demand top dollar for your home, make sure your property is in excellent condition. Repair and touch up all that needs replacing and sprucing up. Update the home if you need to – an experienced Realtor can tell you what you need to do to get the home ready for a sale. Your Realtor can also give you access to vendors and contractors who specialize in preparing luxury homes.
Price, along with timing and property condition, is one of the main factors affecting the outcome of a sale. Find a Realtor who specializes in luxury home sales. They can help you figure out how much the home should sell for. While luxury homes can sell from between $500,000 to $1 million, highly desirable New Jersey communities like Saddle River can command even higher prices.
Hire a professional home stager if you want your high-end property to look the part. They will help you maximize your home’s curb appeal and make it look like something straight out of a magazine. A professional stager is aware of the latest trends in luxury home décor, enabling them to give your home a new and updated look.
Selling a luxury home isn’t just about creating a laundry list of high-end features. It’s also about selling a lifestyle. When speaking to prospective buyers, emphasize the home’s distinctive qualities that make it so prestigious. Take an experiential approach to promoting the home – for instance, talk about how the home’s amenities can enhance the buyer’s day-to-day lives.
An open house will more likely attract the curious into your luxury home more than true buyers. It also makes your home an easy target for theft or break-ins, especially if you have valuable items on display. Ask your Realtor to set appointments with qualified buyers instead.