Selling a home is always lots of work, but if you are selling a luxury home there are some additional factors to consider. The buyer pool for luxury homes is considerably smaller than for median-priced homes and every decision you make should be focused on attracting the right buyer. When you are preparing to sell your luxury home, it is all about the details. Here are some of the things you need to think about and do to position your property to be the next luxury home to sell in your neighbourhood.
A Guide When Preparing To Sell Your Luxury Home
The Nitty Gritty
Cleaning And Decluttering
This is pretty standard practice for anyone listing their home for sale. Sellers of luxury homes need to be even more meticulous about cleaning and removing personal effects. This is also a great time to take care of those little “honey-do” projects that you haven’t gotten around to doing. Touch up paint on your baseboards, oil the door hinge that creaks, and fix the tap that never stops dripping. Buyers of homes that are $1 million plus expect a home that is free of such niggling problems. There are times when a more comprehensive renovation might be needed to help you get top dollar. Find out if it is worth it to renovate here.
Staging
Showcasing your million-dollar home is key to attracting the buyer who will pay top dollar. The truth is that staged homes often sell faster. If your furnishings and decor are high-end, you may choose not to stage, but if your home is empty or your decor style is very specific or eclectic, staging can help present an aspirational and appealing vision to a wider audience of potential buyers. Read more about the benefits of staging your home for sale here.
Protect Yourself
On that note, we present one caveat: do not advertise your valuables. Consider removing expensive works of art and hanging less expensive pieces in their place. Do not display rare collections. Make sure pricey jewellery and big-ticket items are stored securely or removed during showings.
Get Professional Photos
Now that you have taken the time to clean top-to-bottom and ensure that your home decor is top-notch, insist on professional photos of the highest quality. A professional will understand how to light and frame your photos to highlight views, open space and square footage, and your home’s best features. Consider doing two photo shoots; one during the day and one a night to showcase your home in all of its glory.
The Big Picture Considerations
Hire A Realtor®
When you are selling a luxury home, it is extremely important to find a Realtor® with experience marketing and closing this unique real estate product. In Calgary, a luxury home is defined as a property valued at $1 million or more. The right agent will have in-depth knowledge of the luxury market to price your home right, the insight to market your home effectively, and a robust network of luxury market players.
Qualified Buyers, Open Houses, And Pocket Listings
When you are selling a luxury home, some of the standard practices of listing may not be smart strategies. As you prepare to list your home, consider these. This is where your Realtor® can guide you.
- Qualified Buyers: Your agent should screen buyers before any viewings by qualifying them directly or through their own buyer’s agent. This can be a delicate line between driving away potential buyers and making sure that you and your agent are not wasting time.
- Open Houses: The typical open house means posting a time on the MLS®, maybe putting out some coffee and donuts, and welcoming everyone through. When you are selling a luxury property, this is not a good plan. You will definitely attract a lot of people who are just interested in seeing the home, and you could be opening the doors for people with less than good intentions to scope your home out. Instead, your Realtor® may recommend an invite-only open house for reputable agents and their qualified buyers.
- Pocket Listings: Sometimes sellers in the high-end luxury home market opt to be a pocket listing. This means that the home is not listed on the MLS® and your Realtor® will market the home exclusively through their own network of buyers and other agents. No For Sale sign will be placed at the property. This allows for a greater sense of discretion, privacy, and security.
Preparation Is Key For Luxury Home Sales
The process of selling a luxury home can be long and a bit more involved than selling an average-priced home. Choosing a Realtor® who is knowledgeable and experienced in luxury home sales and following these steps to prepare your home can ease the process. The expert team of Realtors® and real estate specialists at The Tanya Eklund Group have the insight and experience to position your luxury home to be the next sale in your neighbourhood. Leverage our network and in-depth knowledge of the Calgary luxury homes market to ensure that you are able to sell your home quickly for the best possible price. Connect with our team by calling (403) 863-7434 or through our contact form.