Tips for selling your luxury home: While preparations don’t always need to be drastic, there are several key points you won’t want to overlook.
When it comes time to sell your luxury home, the prospect can be a daunting task. You need to understand the current real estate market, competing markets, your potential buyers, and what to expect. Never mind proper pricing, what repairs are necessary prior to listing, and the negotiating!
These tips for selling your luxury home can make a huge difference for you, both in the short-term as you prepare to sell, and long-term to make the most from a valuable investment.
Tips for Selling Your Luxury Home
Choose the right agent
This tip cannot be stressed enough. The agent you choose should be local to the exact area you are in, should be experienced in the luxury market, and should come highly recommended.
Talk to the local Chamber of Commerce, neighbors, and business owners in your area if you are looking to choose an agent with a stellar reputation. Word of mouth advertising is terrific, especially in small towns, like Boca Grande.
Understand your market
Understanding the market you are selling in should rely heavily on the agent you have chosen. They know the ends and outs, what you can expect from the competition, and what buyers are looking for. Be straightforward with your agent, so they can give you the appropriate information. For instance, if you are locked into a certain time frame, it’s important that your agent understands you are in a hurry to sell. They will need to be highly aggressive in the pricing and advertising of your home. If you are more interested in getting the most return on your investment, your expected time frame may need to be adjusted. Trust your agent to walk you through any expectations as you gain a better understanding of your market.
Price your home appropriately
A lot of what goes into pricing your home will have to do with what is going on in the market, seller needs and expectations, local competition, changing seasons, and details of your listing. Small things can make a big difference and the right agent will have a solid understanding of what is, and what is not, the right price range for your home to sell. Due to their unique nature, price range, or location, there are homes that will simply take longer to sell. A good agent will speak with you openly and honestly about these expectations and help you price your home accordingly.
Know your ideal client
If the market is largely catering to retired folks buying second homes, such as the Boca Grande real estate market, the advertising and planning will need to reflect that. Your agent can explain to you who your ideal client is, and their team will be instrumental in developing a marketing plan that will speak directly to such a market. The act of buying a home, while an important investment, is an emotional decision. While getting the right deal matters, buyers generally make purchases based on properties they can truly see themselves living in. Your agent should have a team of resources available for marketing development that will highlight features geared to your ideal client.
Curb appeal is still king
Curb appeal also speaks to the potential buyer on an emotional level. The first sight of the home, the entry, and general ambiance will immediately either draw them in or shut them out from choosing a particular home. Especially in a luxury market, the curb appeal is king!
According to a study by Michigan State University, for every $1 invested in landscaping, property owners will see a 109% return. A tree in front of a house increases the home’s value by an average of $7,130, so it’s not only a quick way to increase property value but will provide long-term benefits in the beautification of a home. ~ Trees.com
Talk to your agent and be open to their suggestions so you can make the most of your curb appeal. If needed, they can put you in touch with talented, local landscape artists who will design the perfect layout to welcome buyers to your home.
Clear up the clutter
We know the collections you have accumulated over the years are special, but too many items to look at will distract your buyer from their purpose. You want them to be able to visualize themselves happily living in the home, which is hard to do with Great Aunt Sally’s collectibles or too many personal photos on display around the house. It’s not always easy to hear that you have too much stuff laying around, but it’s important to remember that living in and enjoying your home is VERY different than selling your home! Again, listen to your agent. Get rid of clutter and additional personal items. Use a local storage facility if necessary. Your home will show better, be more spacious, less distracting, and the terrific selling points will stand out.
Take care of repairs
A full kitchen remodel is rarely what it needed. As a matter of fact, there are times when your agent will advise that you not do too many upgrades but allow the buyer to chose designs of their own liking. But if they discover too many repairs needing to be done, they could decide the upkeep hasn’t been managed appropriately on the home. You want plenty of light, which means working plugs, switches, and even light bulbs. You want screens repaired, paint touched up or even full rooms repainted, any patches on walls and ceilings, appliances that stay with the home in good working order, and potentially others. Often your agent will offer a list of suggestions after walking through the home with you. Obviously, the larger repairs will stand out and need to be handled. Don’t take small repairs lightly though, they can have a big impact on the overall impression that buyers walk away with.
Choose the right agent
Oh, was that mentioned already? Well, it bears mentioning again. Having the right real estate agent, like Carol Stewart, who has a stellar reputation, record of success, is local to the island and surrounding area, and is an experienced negotiator, will make all the difference!
If you, or someone you know, is selling a home in the Boca Grande area, contact Carol today for a market analysis. 941.964.2000