How to Market a Luxury Home
By Colin Ryan
Due to the limited quantity of both luxury homes and prospective luxury home buyers, marketing a luxury home can be a challenge. Unlike when marketing a traditional home, marketing a luxury home requires that you target a very small, specific portion of the homebuying population. Here are some tips and tricks for helping you do just that.
Go stealth mode
Many sellers list their luxury homes in multiple listing service (MLS) databases, in national media listings, and in other very public spaces. However, marketing your luxury home in a private network first can help you attract only the most qualified of buyers. One idea for building such a network is to host an event and let your affluent friends and community members get familiar with the property. Attending country club benefits and charity auctions can also help you build connections with potential buyers should you decide to take the “stealth” approach to marketing your home.
Make your property pop
Even with all of its amazing amenities, a luxury home can still fail to resonate with prospective buyers if it doesn’t have the proper staging and presentation. Curb appeal is essential, so make sure to get your landscaping in order before any prospects come to visit. Inside, not only should your home be neat and tidy, but your furniture should be strategically arranged to optimize flow and highlight architectural features. If your furniture is damaged or out-of-date, consider renting new, modern furniture for when prospective buyers come to visit. A qualified realtor can be a great resource for helping you get everything in order.
Consider including incentives
If you really want to see your luxury home move fast, think about including something that will sweeten the deal. While you probably won’t be willing to throw in a shiny new sports car, including artwork, high-end furniture or appliances, or other desirable items in the deal could provide the leverage you need for motivating a prospective buyer.
Published on July 3, 2013