How to Sell Luxury Real Estate? Pro Tips

Unlike other properties, luxury properties can be a challenge for the real estate agent. Therefore, they need to know how to sell luxury real estate. Besides, their high value requires a private buyer willing to acquire them.

To sell, it is necessary not only to create an effective real estate marketing strategy but also to put all the tools, skills, and knowledge on your side. Hence, you can exploit the potential of the home, thus improving its profitability by remaining available on the market for a short time.

There are real estate agents who believe they are qualified to sell these types of properties. They believe that based on their experience in selling lower-value homes, they can do this as well.

However, when they begin to realize that it is not so easy to contact potential clients, the first thing they think is that the property is overvalued. Additionally, they think that there is no market for demand at that time. In other words, as the saying goes: “Ignorance is very daring.”

What would you think if I told you that selling a luxury property is relatively easier than selling a normal property? You sure wouldn’t believe me.

Selling luxury real estate is a specialization of real estate sales. For a specialist, it is easy to sell this type of property; for the rest, it is a challenge. Besides, selling luxury real estate is not a skill that comes from selling other types of residential real estate, but learning from a professional who has specialized in this area. Let’s see how to sell luxury real estate.

Specializing Helps You on How to Sell Luxury Real Estate

Specialization in this type of housing with millionaire prices is necessary. First, you must know how to advise owners who sell luxury properties, which is the most difficult part of this type of sale.

Second, you must know how to prepare a luxury property before putting it on the market.

Third, you must know what promotional material and media are the best to market luxury real estate.

Fourth, you must have contacts in the circles in which your target audience moves.

How to Sell Luxury Real Estate?

We all know that selling luxury properties in a specific real estate job. If you want to know how to sell luxury real estate, these practical hints will lighten your way. Therefore, you need to grasp them by heart. Mastering these 5 tricks of the sale of luxury real estate well would help you out in this competitive market.

1- Know Well What You Sell

Before putting a luxury property on the market, you must know it very well. You must prepare a dossier of the property with its physical characteristics. Besides, you need to know the legal characteristics, financial characteristics, and commercial characteristics.

This dossier is the tool you need to convince the owner of the best price to sell his property. Considering that, it should be the best starting price, not the price for selling his luxury property. A price that you will know how to defend. A knowledge and conviction that will help you later in the negotiation with the buyer.

This dossier is essential to be able to sell a luxury property and from it. You will be able to extract your entire commercial strategy. It will tell you who your ideal potential client is.

In every property, there is always something that stands out. It can be something totally exclusive and desirable for some. Therefore, if you know how to create an “avatar of your ideal client,” you will sell this type of property without problems and quickly. Thus, this is what will tell you who your ideal client is.

2- Know your Target Audience

To reach your potential client, you must know how they tend to think. Additionally, you should know what his needs are, his tastes, and his preferences. Besides, you need to know his lifestyle habits. You should always keep in mind that this class of buyers is far from the ordinary and do not have financing problems.

You must know how to transfer the characteristics of a luxury property into benefits such as prestige, belonging to a specific social group (of those who play golf, those who have yachts, those who take vacations here, etc.), social recognition, respect, privacy, exclusivity.

Generally, the location, the space available, and the quality of the materials are the characteristics where you should focus on extracting the benefits. Above all, extract a benefit that makes the property unique for a specific group of people.

Remember also that every luxury property, once acquired, will undergo minor reforms. Thus, they can adapt it to the personality of its new owners.

The needs of this type of client are different from most people. In other words, they want their new home to offer certain personal benefits that reflect the success that potential buyers have. Here the number of rooms or the price is not very relevant. The relevant thing is that the property reaches the feelings, that it falls in love.

3- Promote your Luxury Property with Video

Obviously, you need top-quality material to sell a luxury property and promote it in the appropriate media. A memorable description and photos taken by a professional photographer are not enough. You need a real estate video and record it properly.

You must record the typical high technical quality video, including a person in the video who describes the property (its characteristics and benefits), as it is shown. That background music, while showing the different parts of the property, is a waste of time.

Once you have the video hosted on Instagram or YouTube besides, you need a specific landing page for this luxury property. Furthermore, you need to know realtor Instagram advertising. This landing page should contain the photos, the description, the video, and an inquiry form. Additionally, it should be very well-designed. This landing page is where you are going to direct your potential customers. The other issue that you need to consider is the role of social media in real estate lead generation.

4- Use Public Relations to Sell Fast

Most luxury properties and almost all super-luxury properties are sold through Real Estate Public Relations. Hence, you need to specialize and learn Real Estate Public Relations (which is not exactly giving press conferences and writing articles) to access the circles where your clients are.

To be successful in selling luxury real estate, you need to train in Real Estate Public Relations, which is slightly different from Public Relations in other sectors. Doing so is part of your specialization. It would provide you a new door on how to sell luxury real estate.

5- Plan Photo Session

Hire a professional photographer who can capture the appeal and unique details of the home in each shot.

It is much easier to fix the decorations and furniture before the session than to make adjustments in Photoshop. Don’t skimp on expenses, and make sure the photos are really professional. Running the shoot during sunrise or sunset will add some appeal to the image.

Remember that, on the web, you only have two seconds to capture the attention of potential customers, so be sure to use the best photos. Eye love is born.

6- Describe Its Best Features

This class of buildings has large dimensions of land and construction that have been used to offer spacious rooms and spectacular amenities. Try to focus on all the elements that stand out, such as location, views, finishes, materials used, and whether it is sold or not.

Do not forget to mention that properties increase their capital gains, so they can see the purchase as a great investment opportunity.

To sum up

It is clear that there are different choices to start a business in the real estate industry. Selling luxury properties is one of them. We mentioned six practical hints on how to sell luxury real estate. Considering them would guarantee your success in this competitive market. 

This post was last modified on June 23, 2021 19:18