Luxury real estate goes through cycles, just like any other price-point. Fountain Hills has long been a “hot” market for luxury real estate, with competing buyers from differing demographics: wealthy retirees and Silicon Valley transplants flush with cash from selling their high-priced West Coast abodes.
However, there are challenges with selling luxury real estate, even in sellers’ markets. Here are few tips for ensuring you sell your luxury home for the best possible price.
Hire the Best Agent
Hiring the best agent is critical. Not just any agent will do. You need an agent that has vast experience selling homes like yours. Selling luxury real estate is different that selling your average American home. Your agent needs to understand the mentality of the luxury buyer and have solid marketing plant for attracting the right buyers.
If you have the right agent in your corner, all the other tips below fall into place. You can be confident that all the details will be handled professionally, and that your home will be presented properly to engage the most potential buyers.
As Fountain Hills luxury experts, and the leading agents in the area for numerous years, you can count on our expertise, resources, and deep understanding of the Fountain Hills luxury market to ensure your home sells for the best possible price.
Professional Photography and Staging
Almost half of all home buyers start their search using an online search tool, according to data compiled by the National Association of Realtors. Of those buyers, 89% find that photos are essential; 50% also find that virtual tours are useful.
Now, this survey is based on buyers at ALL price-points. In luxury real estate, cell phone photos taken by the homeowner or the real estate agent simply won’t cut it. Discerning high-end buyers will quickly become frustrated with photos that have poor lighting or too small to see detail. You’ll lose them before they ever step foot in your home.
Plus, by it’s very nature, luxury real estate often offer unique features that set them apart from other properties available. The photography MUST show off these unique features to the best possible advantage. A professional photographer is a absolute necessity, and it must be one skilled in using angles and lighting to showcase your home in such a way that potential buyers fall in love immediately.
Of course, the photographer can only do so much. Which is where the professional stager comes in. Clutter, brag walls, and outdated decor can detract from your photos. The stager can help you look at your home through the buyer’s eyes, and can ensure that your home looks its best. This could involve removal of personalized items, adding or removing furniture, artwork, or rearranging living spaces.
In addition to staging and still photography, you may also want to consider professional video. This extra investment may be worth it, since the pool of luxury buyers is small, and many buyers may be moving from overseas or other parts of the country. Having the ability to walk through the home without being physically present is important to these buyers.
Once you’ve captured the imagination of the buyer through jaw-dropping photography and video, they are more likely to include your home in the list of homes they want to visit personally. This puts you one step closer to getting an offer.
High-end photography and video, as well as professional staging are among the many services we offer at Pellegrini & DeGeorge Partners.
Comparative Market Analysis
One of the challenges of selling high-end real estate is that every home is unique. Unlike cookie-cutter subdivisions, most homes are custom built, with a variety of luxury features and unique floor plans. One of the primary tasks of your agent is to perform a comparative market analysis (CMA) that compares your home to other similar homes in the area. This is a key tool to determining the best possible list price. Price the home too high, and you’ll get little notice by buyers. Price it too low, and you miss out on potential profit.
The comparative market analysis considers the features of the home, size, amenities, and the neighborhood – and, in the Fountain Hills area, the view! The CMA also looks at the overall condition of the home. When you are talking about a niche market, though, there may be few comparable homes to do a proper analysis. For this reason, a highly-skilled agent that is fluent in the luxury market is crucial. Your agent may need to look at luxury trends in the area, recent sales, and other factors in order to arrive at the best listing price for your home. The ability to “read the landscape” of the luxury market is a skill acquired with experience.
Selling your luxury home is complex, and requires the special handling your home deserves. With the right agent, solid market analysis, the right price, and top-tier marketing, you can feel confident you will get the best possible offers on your home. Susan Pellegrini and Karen DeGeorge are ready to put their care and expertise to work for you. Buying or selling, our first-class service comes with a wealth of experience and eye for detail, ready to focus on you. Visit our website to learn more and contact us or give us a call at (480)- 315-1575, we’re here for you.