Currently, Calgary real estate is a seller’s market. This means there are more buyers than there are homes to buy. Properties are selling quickly and often for above asking price. This is great news for many sellers who feel like the real estate game is theirs to win. But not every sector is experiencing the same level of rapid and profitable sales. The luxury home sector can be driven by different factors than typical home sales and requires some special efforts to achieve top dollar regardless of general market conditions. Your home is still in demand, but marketing is key for a timely and lucrative sale.
Selling Your Luxury Home In Calgary
In the first quarter of 2022 the number of Calgary luxury property sales (sold for over $1 million) was up 258% over last year. The inventory of Calgary luxury homes is not as limited as average homes making for a more balanced market scenario. The average timeframe to sell a luxury property is two to three months, longer than typical single-family homes, which averaged 22 days on market in April 2022. But market conditions are still very favourable for selling your luxury home. Consider these strategies to market your home effectively and position it as the next luxury home to sell in Calgary.
Think Exclusivity
When you are listing your luxury home for sale, you may want to consider skipping the traditional open house. Opt for appointment-only viewings or invite-only events to add an air of distinctiveness to your property. This can give buyers the impression that they are set to view something special, and you can avoid wasting your time with unqualified buyers and curious neighbours. When selling a luxury home, quality over quantity is key. You don’t need to have dozens of buyers through your doors, you just need the right ones.
Build A Brand For Your Home
Just as a strong brand can help a business succeed, a brand for your luxury home can help you achieve top dollar. Carefully consider what makes your luxury home unique among its competitors. Was it designed by a well-known architect? Does it feature the latest smart home technologies? Is it a historic property with original features? Does it have a breath-taking view? Highlight the exceptional features of your luxury home to build a brand with a focussed message that is consistent throughout all of your marketing campaigns. Maybe even consider a personalized logo or slogan to stand out to potential buyers.
Explore High-End Marketing
Once you have developed an effective brand for your luxury home, consider your marketing strategies. There are the tried-and-true: yard signs, MLS® listing, ads in community newsletters. But to attract discerning buyers who are seeking an elevated purchasing experience and a home that offers higher-end home features and unique lifestyle amenities. Ensure that your marketing materials reflect the luxurious level of your property, and consider high-quality photos and virtual tours. Market your home directly to realtors with a roster of clients specifically seeking luxury homes by offering realtor tours or cocktail events.
Calgary’s Choice For Luxury Home Buying and Selling
The best strategy for marketing your high-end, luxury home is to partner with a Realtor® with extensive experience navigating the unique complexities of the Calgary luxury home market. The right Realtor® will have the skill and connections to market your home effectively and connect you with the most qualified and motivated luxury home buyers. The expert team of Realtors® and real estate specialists at The Tanya Eklund Group have the insight to price your home right, target the right buyers, understand your competition, and negotiate skillfully and confidently when an offer is received. Leverage our network and in-depth knowledge of the Calgary luxury real estate market to ensure that your home is the next to sell.
If you are interested in listing your luxury property for sale or seeking a unique luxury property for your next home The Tanya Eklund Group team has the resources you need. Reach out to us at 1-403-863-7434 or contact us online and let’s talk about your home.
