How to Sell a Luxury Home – Luxury Real Estate Marketing Ideas

Selling real estate is not an easy task talk more of luxury real estate. With this increased difficulty comes the need for increased expertise required to sell. 

We have been able to itemize some factors that you may likely need to take into consideration when next you want to decide on ow to proceed in selling your luxury real estate. 

Fixing the right price 

Fixing the right price is very important because that is what people are interested in at first contact with your listings. 

It’s 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! 

Effective Marketing Is Vital! 

The price a home enters the market at does a fair amount of the marketing in itself, however, there are other marketing tools that should be used when selling a luxury home. 

Print advertising and direct mailing should still be a part of any real estate agents marketing plan/system.  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’s important that a real estate agent has their own website and/or blog and that it is mobile responsive as well.  Many home buyers are shopping on their tablets and mobile devices. 

When selling a luxury home, it’s important that a real estate agent uses social media.  Social media is an extremely important marketing tool for real 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. 

Quality Photographs and Videos 

Most have heard the saying, “quality over quantity.”  This relates perfectly to the quality of photographs and videos of a luxury home for sale.  With over 90% of buyers beginning their home search online, it’s critical the photographs and videos of a luxury home are outstanding and nothing but the best! 

Every real estate agent will offer to take photos of a home, but it shouldn’t be as easy as just leisurely taking photos.  When selling a luxury home, if the real estate agent is not having a professional photographer take photos of the home, they better have some great equipment. 

Determine If Open Houses Are Necessary  

A very popular question many home owners have for real estate agents is, are you going to have an open house?  There is much debate whether public open houses help sell homes or not. 

When it comes to luxury homes, public open houses do not help sell homes.  When it comes to selling a luxury home, public open houses often bring in people just interested in seeing how the “rich and famous” live.   

There is absolutely no way to determine whether the people coming through the open house are qualified to purchase the luxury home or not! 

Location & Lifestyle Must Be Portrayed Correctly 

Luxury homes are often luxurious because of their location and lifestyle.  If a luxury home is part of a development which includes a clubhouse or yacht club privileges, it is important they are being showcased in the listing information. 

This is another reason why utilizing video or virtual tour when selling a luxury home is a great marketing tool as it is a very good way to present a home’s location as well as the lifestyle. 

When buying a luxury home, the prospective purchasers will often want to know who else is living in the general vicinity of the home.  It’s important to know or find out who else lives in the area and ensure this information is available to real estate agents who are showing the home. 

Patience Is A Must 

One of the biggest things that a seller needs to consider when selling a luxury home, patience is a must!  Selling a luxury home will normally take longer than a non-luxury home. 

One major reason that luxury homes take longer to sell than non-luxury homes is the number of possible buyers available to purchase the home.  Face it, there are many buyers who can afford a NGN30,000,000 home entering the market on a daily basis.   

There aren’t many buyers who can afford a NGN150,000,000 home entering the market on a daily basis.  For this reason alone, it’s important to be patient and understand that if the above tips are being practiced, a buyer will surface!