Thinking of selling your property? The competition in today’s luxury real estate market is greater than we have seen for many years. In order for you to sell your property, you need a real estate professional that can:
- Market your property correctly and efficiently.
- Find qualified buyers for your luxury property.
- Harness the power of the internet to sell luxury real estate.
- Have access to a strong pool of qualified buyer traffic.
Step #1 – Take Re-Financing Appraisals with a Grain of Salt
Many homeowners make the mistaking of thinking that they can sell their home for the same price as a recent re-financing appraisal. More often than not, the market price of your home will be less than a recent refinancing appraisal.
Lenders often estimate the home value to be higher than the actual market value of your home in order to qualify you for more money.
Step #2 – Contact a Realtor Who’s an Expert in Your Specific Neighborhood or Location
Not all Realtors can be experts at everything. The majority of Realtors—at least the good ones—have a specific niche that they focus on and know inside and out.
Specific niches include: high-end luxury, affordable condos, golf course communities, horse properties, ect.
Find a Realtor that is the expert in your particular area and seek out their opinion on what your house is worth today.
That realtor will have their finger on the pulse of the quickly changing market and will give you the most accurate information, including valuable comparables. Values are changing day by day!
Step #3 – Price Your House to Sell From Day One
The most common mistake that causes sellers to get less than what they had hoped is listing too high during the first days on the market. Listings reach the greatest proportion of potential buyers immediately after they are listed.
All new listings show up as “New” for agents that participate in the Multiple Listing Service. If the property is dismissed as being overpriced, or if perceived that the seller is unrealistic, the potential buyer will then elect to wait it out and not seriously consider the property.
As the number of days on the market grows, later price reductions are the result. Overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price than they likely would have, had they been priced properly at the onset.
Step #4 – Show Off Your Homes Assets
Leave nothing to the imagination of potential Buyers. Show off your home to its highest potential.
Make all necessary repairs, such as: touch-up paint, fixing dragging doors, clear out clutter, and remove everything that you can from counter tops. Don’t assume that a buyer can see the “potential”.
If your home looks well taken care of, a Buyer will assume the home is in good repair in areas that they can’t see, e.g., overall construction quality.
Step #5 – Choose the Right Realtor
Selling your home could be the most important financial transaction in your lifetime. As a result, it is extremely important that you select a Realtor who is the right fit. One who has your best interest at heart.
Make sure to verify their overall experience and specialty in your particular area.
In today’s technology depended times, the right marketing plan must include a Realtor who is savvy on all the latest online marketing and social media avenues and a website with heavy traffic is a must.