Step one in selling luxury real estate is choosing the right realtor. Once you have taken care of that step, you can now work with your chosen real estate agent in preparation to sell your luxury home. The second step is evaluating the competition.
Before you put your luxury home on the market, or even begin to set a sale price, you need to evaluate comparable properties with your Realtor. Properly positioning your home relative to immediate comparables is crucial when selling your luxury home.
If your home is in a master planned community, then standard metrics like bedrooms and square footage will likely gauge the value. However, some luxury properties are nearly impossible to compare. If there is truly nothing comparable in your area, then you should consider aspects such as lot size and replacement costs.
After you have gone through comparables and metrics like square footage, lot size, etc., then ask your agent to consult with some trusted buyer’s agents. This will give you some fresh and outside perspective. A good buyer’s agent tours twenty properties or more each week, so they will have a feel for the local market and be able to recommend an expected selling range.
Once you are educated on comparables, house metrics, and the opinion of a trusted buyer’s agent, then it is time to set a sale price and put your luxury real estate on the market. Trust your research in evaluating the competition. If you truly want to sell, you have to believe what the data is telling you and act accordingly in pricing your luxury home.
Want the full five steps in selling luxury real estate? Click below for the Ultimate Guide to Selling Your Luxury Home.
Laura BradyAs the President of Concierge Auctions, Laura oversees the firm’s strategic brand direction and image, including marketing, public relations and events.mailto:laura.brady@conciergeauctions.com" target="">laura.brady@conciergeauctions.com888.966.4759 X 701FacebookGoogle+TwitterInstagram