The real estate business is always a profitable one. With a bit of time and effort, estate agents can grow their business and earn a lot of money. And those who can get into the buying and selling of luxury properties are bound to grow and get rich a lot quicker.
However, dealing with luxury houses and apartments is easier said than done. Yet, by following the proper guidelines, you can make things a little less difficult for you. So for anyone interested in getting into this business, here are some tips from experienced realtors on selling luxury properties.
#1 Approaching the Clients
Real estate agents often say that it is difficult to sell luxury properties because you cannot find good clients. And while that statement has some truth in it, it is not entirely correct. Finding clients for a luxury property is only hard when you do not know where to look. That means that there is a small niche of people who are interested in such properties. And as a realtor, you need to target those people specifically.
Real estate agencies should have a separate list of their high-value clients. These are clients who do not mind splashing a good amount of cash for luxury properties. Before you put up the listing, you should get in touch with those clients. Give them the idea that the property you are about to sell is exclusive, and they are the first ones you are reaching out to. Try to convince them to at least look into the property. They might find it interesting and think about buying it later on.
Once these clients are done, you will move on to the next batch of clients in your hierarchy. Keep doing so until you have reached out to all your high-value clients. Some of them are likely to show interest if the property is worth it. And if not, you can start preparing the listing and make it available to the public.
#2 Preparing the Listing
Say that you get a call from a client, and they say, “I would like to sell my Santa Monica condo.” As a real estate agent, a few things will cross your mind immediately. You need to do a valuation, assess potential buyers in Santa Monica, contact them, set up meetings, and do all the paperwork. Along with all that, you also need to get the listing up on your website for the world to see.
The listing is more than just preparing a good description of the property that is going for sale. When you prepare a listing, you need to make sure it has two important qualities - the ability to attract, and the facts to convince.
#1 Approaching the Clients
Real estate agents often say that it is difficult to sell luxury properties because you cannot find good clients. And while that statement has some truth in it, it is not entirely correct. Finding clients for a luxury property is only hard when you do not know where to look. That means that there is a small niche of people who are interested in such properties. And as a realtor, you need to target those people specifically.
Real estate agencies should have a separate list of their high-value clients. These are clients who do not mind splashing a good amount of cash for luxury properties. Before you put up the listing, you should get in touch with those clients. Give them the idea that the property you are about to sell is exclusive, and they are the first ones you are reaching out to. Try to convince them to at least look into the property. They might find it interesting and think about buying it later on.
Once these clients are done, you will move on to the next batch of clients in your hierarchy. Keep doing so until you have reached out to all your high-value clients. Some of them are likely to show interest if the property is worth it. And if not, you can start preparing the listing and make it available to the public.
#2 Preparing the Listing
Say that you get a call from a client, and they say, “I would like to sell my Santa Monica condo.” As a real estate agent, a few things will cross your mind immediately. You need to do a valuation, assess potential buyers in Santa Monica, contact them, set up meetings, and do all the paperwork. Along with all that, you also need to get the listing up on your website for the world to see.
The listing is more than just preparing a good description of the property that is going for sale. When you prepare a listing, you need to make sure it has two important qualities - the ability to attract, and the facts to convince.
The easiest way to attract a potential buyer is by posting high-quality photos of the property. Focus on the areas customers want to see the most, like the bedrooms, baths, kitchen area, living room, and so on. Using fancy words like ‘luxury’, ‘affluent’, ‘lavish’, etc. in your descriptions can help in this regard as well.
For convincing buyers, you only need to state the facts. Assuming that they are buying a luxury condo in a prime location, they would want certain features and facilities in the property that makes it worth the price tag (which is sure to be a lot).
You have contacted the right clients and made the listing as convincing as possible. Next, you need to publicize the possibilities. That means that you have to present some unique features of the property to the buyers that will get them excited.
Given that it is a luxury property, you should emphasize the lifestyle they might get to enjoy. For example, say you are planning to sell a Santa Monica condo or house. The property is in a prime location and near to the ocean. It has all the amenities for a luxurious lifestyle. And on top of that, the property’s owner gets to be neighbors with celebrities living in that area.
You should also think about arranging an open house at the property. Invite only those interested in buying the property. That way, you get to keep the guest list limited and entertain them properly.
And there you go. Once you have applied all these tips and tricks, you should be able to sell any type of luxury property with ease.
For convincing buyers, you only need to state the facts. Assuming that they are buying a luxury condo in a prime location, they would want certain features and facilities in the property that makes it worth the price tag (which is sure to be a lot).
#3 Publicizing the Possibilities
You have contacted the right clients and made the listing as convincing as possible. Next, you need to publicize the possibilities. That means that you have to present some unique features of the property to the buyers that will get them excited.
Given that it is a luxury property, you should emphasize the lifestyle they might get to enjoy. For example, say you are planning to sell a Santa Monica condo or house. The property is in a prime location and near to the ocean. It has all the amenities for a luxurious lifestyle. And on top of that, the property’s owner gets to be neighbors with celebrities living in that area.
You should also think about arranging an open house at the property. Invite only those interested in buying the property. That way, you get to keep the guest list limited and entertain them properly.
And there you go. Once you have applied all these tips and tricks, you should be able to sell any type of luxury property with ease.
