When it comes to selling your luxury home, the stakes are a bit higher than the average house. Making a small mistake can end up costing thousands of dollars. On the other hand, understanding the intricacies of this market can result in thousands of extra dollars in your pocket. Here are a few tips for getting the best price possible for your home.
One of the selling points of luxury homes is often their proximity to local, natural attractions. For example, if you’re selling a home that is close to several local ski resorts, seeing the home blanketed in fluffy, white snow may be the best way for the buyer to understand the true value of the home. A home near a lake may be best seen by buyers during the summer when the sun is shining. Make your local geography work for you; don’t let it obscure the benefits of your home.
Price It Correctly
Pricing a luxury home is more difficult than a regular home, as they often have unique features that only certain buyers will value. Using a simplistic measure like price per square foot can lead to prices that are way off, and an inaccurate price can have drastic consequences.
Price a home too high, and it will sit on the market. Luxury homes that sit on the market for too long can develop a stigma—there must be something wrong with it if no one is buying it. This is especially true in the luxury home market, which has a small pool of buyers. These buyers will eventually forget about a home that has sat on the market too long. Conversely, pricing the home too low can lead to a lot of money being left on the table.
Hire the Right Agent
All of the tips in this article boil down to one thing—partnering with the right agent. A local agent experienced in selling luxury homes will know exactly when to place the home on the market, and at exactly what price. It is crucial to have someone with this kind of experience on your side as you undertake the process of selling your home.
Contact Sunbelt Real Estate for all of your luxury real estate questions.