Selling a luxury home can feel like an uphill battle, especially in a buyer’s market. Getting buyers to pay top dollar for your luxury home, even if it’s the nicest in the area, can be tricky: the key to a quick and successful sale is to get your potential buyers to see the value that the home truly has.
At Fripp & Harbor Island Properties, we understand the luxury home selling process all too well and if you’re looking to upgrade your home, relocate, or move inland, then here are some tips that will help you find success on the market!
#1: Stage your luxury home for success
Sure, your luxury home has all of the most sought-after features and is in a great location, but it will sit on the market if a potential buyer can’t picture themselves in the home, and that’s where staging comes in.
Staging is even more important with a high dollar value luxury home because there are amazing features to showcase and, like with any home, you have to give each room a purpose.
You may think that your home is objectively gorgeous (and we probably wouldn’t disagree) but selling a luxury home appeals to a very specific clientele. Think back to when you made the purchase; what was it about the home that caught your eye and was enticing enough to reel you in?
Stagers will recommend that you remove personal effects, so that the home feels like a blank slate that potential buyers can picture themselves vacationing in.
It’s important that you’re showcasing the home’s many amenities during the staging process. Make sure that the formal dining room has a large, elegant table that can host many. That soaking tub in the master bathroom should be the focal point of the space and make sure to highlight walk-in closets with seating and mirrored vanity tables.
#2: Marketing tactics to help you on the housing market
Once your home is staged, it’s important to make sure it’s properly marketed to the right people. To get started with your marketing, make sure that your home has professional photos taken, and consider asking your photographer to build a virtual tour.
Professional lighting and design are key to creating photographs that will entice luxury home buyers from around the country. Highlight your home’s unique features, and don’t forget to snap some photos of the incredible views.
Part of your marketing plan may or may not include an open house—some experts say that having an open house at a luxury home for sale can actually diminish its perceived value. Talk with your real estate agent before you decide, but don’t be over eager and schedule an open house right away.
Chances are, it’ll be a great opportunity for nosy neighbors to check out your guest bathrooms, and serious buyers won’t attend.
#3: When is the optimal time to sell your luxury home?
Selling a luxury home has a lot to do with good timing: choose the most optimal time of year depending on the weather to sell your home.
Listing your home at the most opportune time means that more buyers will be interested to see it—if you list during a lull in the market, you run the risk of sitting on the market for too long. Once those buyers come around during the better weather, they may wonder why your home has been on the market for so long.
#4: Why should people want to live there?
Just as important as the number of bedrooms, bathrooms and amenities is the lifestyle that your home and neighborhood will offer to buyers. If your home is in a private community that offers tennis courts, swimming pools, and a golf course to members, make sure that those items are called out in the listing.
Remember that your buyers are looking for a certain kind of lifestyle when they purchase your home, so be sure to call out the top-rated restaurants, local shopping, and other leisurely activities that buyers will enjoy when they move to the area.
#5: Is the price right for the luxury home market?
Finally, in order to quickly sell your home, but ensure that you get the best return on your investment, it’s important to price your home fairly. If you’re unaware of what the market has been looking like in recent months, ask your realtor to advise.
It’s important to forego the typical pricing methods, like price per square foot, since luxury homes are so unique, even to one another in the same neighborhood.
Make sure you get the price right: a reduction won’t look good to buyers and remember that your pool of potential buyers will be smaller than if your home were a bit less expensive.
If you’re looking to sell your luxury home in the Fripp Island area, contact Mandi Lee at Fripp & Harbor Island Properties today. She will not only navigate the housing market with you, she will expertly advertise and stage your home. Lee’s knowledge and experience in this market will ensure that you get top dollar for your luxury home. Give Lee a call at 843-301-0819 today to learn more about selling your Fripp Island home!