5. You Must Nail the Price
If you don’t get the list price right, you’ll struggle to sell any home. However, it’s even more important with a luxury home. Make sure you know exactly how to price a luxury home or you could struggle to land any listings.
Inexperienced agents will attempt to price a luxury home based on price per square foot. This doesn’t work and luxury homes present more of a challenge to price them correctly.
It can be difficult to find comparable homes to use as a reference when pricing a luxury home. Coming up with the right list price is a bit of a science and takes some work.
However, it has to be included in your luxury home marketing plan. If you price a luxury home too high, it’s like a death sentence for the listing. Price it too low, and buyers will wonder what you’re hiding or what’s wrong with the property.
Make sure you get the price right. If you get this part of luxury home marketing correct, the rest does become a bit easier.
There are several things you want to consider when creating a luxury home marketing plan. While you should have a basic plan to use for all luxury homes, make sure you customize each plan to fit the luxury home and the client.
Basically, you’re creating a brand for the home. You have to make sure you are selling the home for all it has to offer including the lifestyle, the location, and the many amenities/features that make the home unique.
Armed with an excellent luxury home marketing plan, you can start selling more expensive homes. Get the price right and stress high-quality with all your marketing materials and strategies. If you do this right, you’ll go far with luxury home selling.