Selling

The Quick Guide to Marketing Your Luxury Home

05.24.2019

If you’re preparing to sell your luxury property, you should be aware that the high-end real estate market is unique. There’s a limited number of home hunters seeking properties that are priced upwards of a million dollars, which means that finding—and impressing—the right buyer is crucial.

Simply put, when there are significant sums of money at stake, buyers have high expectations. They’re looking to fall fully and completely in love with a home, right down to the last detail. For this reason, it’s important to present your property in just the right light—and ensure that its magnificence comes through in all of the marketing materials you put out into the world. Armed with a bit of market knowledge and some valuable expert advice, you can help ensure that your home attracts the right buyer.

If you’re ready to sell your luxury property, here are five pieces of the marketing puzzle that deserve your attention…

Pricing is key

Pricing a home accurately is one of the keys to a successful sale. While it’s true that luxury home hunters have larger-than-average budgets, they also tend to be savvy buyers who appreciate value as well as quality. In other words, overpricing your property could leave it languishing on the market. On the other hand, underpricing could mean you’ll wind up selling your home for less than it’s worth. The answer is to work with a real estate agent who has plenty of prior experience pricing luxury homes. Based on their thorough knowledge of high-end properties (and recent prices for similar homes in your area), they’ll create a thorough comparative market analysis in order to come up with just the right sum.

Know your target market

Understanding a buyer’s desires, motivations, and expectations makes it easier to appeal to their sensibilities. While every home hunter is searching for their dream property, those in the luxury market are typically looking for the absolute highest level of quality. They’re not just purchasing a home—they’re purchasing a lifestyle. It’s important to keep this in mind at every step of the staging and marketing process. When you’re thinking about potential buyers, you should also make sure they’re fully qualified. A thorough agent will look into relevant financial factors to ensure that potential purchasers can comfortably afford your home—before you delve into the selling process.

Use the highest-quality photos

Gorgeous images are one of the most crucial elements in any luxury home-marketing mix. Before buyers decide whether to set up a viewing, they’ll see your listing—and the pictures will tell them whether your property is worth visiting. To ensure that you wind up with compelling photos, work with a professional who has experience in the luxury market. An upscale photographer will make the most of lighting, angles, perspective, and high-quality equipment. They’ll convey what it’s really like to lounge in your beautiful backyard, throw a dinner party in your luxurious dining room, or bathe in one of your spa-like bathrooms.

Focus on our listing copy

Every home listing should include the basics (like the number of bedrooms and bathrooms your property contains). While a high-end home should be listed with the same details, ensuring that luxury home hunters feel invested requires more. The words in your listing should paint a vivid picture that helps potential buyers imagine living in your space. From its majestic features to its stunning architecture to its fine craftsmanship, your luxury property is worth talking up. While photos will call attention to a listing, its written copy should provide a higher level of detail.

Tap into high-end buyer networks

Since the buyer pool for luxury properties is smaller than it is for a typical home, achieving maximum exposure is crucial. A real estate representative with the right experience will know which publications and online networks high-end home hunters (and their agents) are using. They’ll also have preexisting relationships with luxury buyers, which can make the process of finding the ideal purchaser much quicker and easier. Lastly, an agent with luxury expertise will be connected with relevant professionals—including those in the real estate, home-improvement, and staging industries (among others). As a result, they’ll be well-equipped to help you prepare your property—and find home hunters looking for properties like yours.

Luxury properties are incredibly unique, and selling them successfully requires specialized knowledge and skills. To make sure that you find the right buyer (and, ultimately, receive a great price for your home), it pays to work with an agent who has a track record of success with your target market.

Ready to sell your luxury home? Reach out to learn how the right staging and marketing efforts can make all the difference!