Classifying a property as “luxury” raises many expectations: upscale quality of life, above-median prices, the latest furnishings and amenities, and distinctive architecture and design.
In line with this, selling luxury properties goes beyond the standard checklist. Luxury is about catering to the buyer’s desires on top of their needs. It’s about forging a connection between the buyer and the property, specifically the exclusive lifestyle and opulent environment that comes with it.
In a large metro like the San Francisco Bay Area, luxury properties make up only a small segment of the overall real estate market, which makes for tight competition. However, luxury home buyers are also more discriminating. With a significant amount at stake, they want to make sure they’re rewarded with the perfect home.
If your goal is to sell your luxury home fast, you have to think of the process as a distinct art form. If you are planning to sell your Bay Area luxury home, these are the important points you need to consider:
- Working with the right real estate agent
- Telling a story: selling luxury
- Highlighting the best features
- Marketing strategically
Different real estate agents have different specialties. It’s crucial that you work with a San Francisco Realtor who has extensive knowledge and skills in the luxury real estate market, and has the track record to prove it. Working with a novice may work, but ideally, only if they’re mentored and supported by an experienced agent.
Realtors who specialize in luxury real estate have a huge amount of knowledge, skill, and experience in this market. They have to be to match the savvy of the typical luxury property clientele, who tend to be experienced real estate buyers themselves.
The right real estate agent knows what strategies work to appeal to high end buyers, and have the resources and ability to execute these strategies. They understand the subtleties of selling luxury real estate in their area, and knows how to be competitive while also getting the most profitable price for a property.
Is your home a chic and modern penthouse fit for a king of the tech industry? Or is it a lovely, sun-filled mansion with floor-to-ceiling windows and a large backyard, perfect for the kids? Or perhaps it’s an enchanting Victorian house with a fascinating history and stunning views of the bay.
The most crucial aspect about selling a luxury property is understanding the space and the story it tells. Ask yourself what made you buy or build the property in the first place, and why a buyer would similarly fall in love with it. Then highlight this when showing the home to a prospective buyer, as well as in your advertising and promotional materials.
You need to focus on what makes your home stand out. These should be the unique and high-value features of the property, which can also serve as its main selling points. Your real estate agent can help you assess the major and most appealing features of your home, as well as their value.
Staging a house for sale is highly recommended in any market, but even more so in a luxury property. It’s ideal to work with a professional who knows what buyers are looking for in a home and how to make it easy for buyers to picture themselves living in it.
An experienced home stager can give your home an instant facelift and find the best ways to draw the buyer’s eye towards your property’s most attractive features, while minimizing the not-so-appealing ones.
The key to effective marketing and selling is branding, and that goes for your property as well. Once you have a solid story behind your luxury home, you should condense it in a focused message that guides all your marketing materials through multiple channels.
To attract potential buyers to your home, you need to invest in high-quality photos and videos. Provide lots of imagery. Human presence, or using actors, in your marketing videos can help transmit a unique yet relatable story to prospective buyers. Providing a virtual tour with awe-inspiring drone shots can also emphasize the beauty of your property, especially its views and landscaping.
Lastly, you need to cultivate an air of exclusivity when selling a luxury property. Consult with your real estate agent about conducting appointment-only viewings instead of a public open house. Keep in mind that in selling a luxury home, its more about getting the right buyers through the door, rather than getting in as many buyers as possible.
In navigating the highly nuanced luxury real estate market in the San Francisco Bay Area, you need an experienced Realtor who knows it by heart. Team Hatvany is a group of professionals who maintain an expertise built on data, results, and 30 years’ worth of experience. They can help you close the best deal for your Bay Area luxury home. Contact them today at 415.710.6462, or via email at team(at)teamhatvany(dotted)com.