Tips on Marketing a Luxury Home

When thinking of luxury real estate you can expect to pay more than five hundred thousand dollars for a home. With the economic recession behind us, the market for luxury homes is booming once again. The market is now getting the benefit of the rising income levels of people along with their desire to own a lavish, grand residential space. It is just as easy to sell a luxury home as it is one that is affordable to those without a lavish income. The market will basically targets the individuals with high net worth that also has big cash reserves and is looking for high quality living and potential investment options. These luxury properties are usually found in an up-market locality where the residents can enjoy a lifestyle that is world-class and has ultra-modern amenities.

One thing to note is that the prices of a luxury home can be very volatile. At one time, they can be at their peak when the demand is at the highest point and then it can drop substantially where you have no buyers in the market for luxury real estate.

There are many different ways in which you can market a luxury home. One way that is very important is that you will need to advertise aggressively. You should use mediums of advertising like radio, the internet, newspapers, and television effectively to attract potential buyers. You can also use billboard and pamphlets as a means of advertising in order to draw the attention of potential buyers. In your advertisements, make sure that you highlight the specifications, layout of the home, the location, and the facilities to generate more curiosity.

You can also organize seminars and exhibitions where you can showcase the luxury properties that are available to the buyers. Ask the sales representatives to interact with them personally and be able to solve your buyer’s queries. Convince them how investing in the properties will be in the long term advantageous to them.

Make sure that you can assure your potential buyers that they will have legal clearance on the homes they are considering purchasing. No buyer wants to spend millions, or even hundreds of thousands of dollars on a luxury home only to find that there is some form of legal trouble related to the property.

You can also hire a brand ambassador, who could be a celebrity that works in some of your commercials that is helping to promote the luxury properties you are trying to find a potential buyer for. Make sure you promote the luxury home throughout the world as a potential buyer can come from anywhere.

Denver, CO Real Estate – Selling Your Home Faster During a Housing Slump

Just the other day I was at a listing presentation with a prospective client discussing how to sell his home faster than the other active listings during the Denver Colorado real estate housing slump. He of course wanted to know about our marketing strategy, communication plan, and competitive listings in the area and what I suggest for a listing price.

Most successful agents who practice selling real estate in Colorado full-time instead of part-time will deliver a comprehensive plan for marketing and communication, however, there are very few within the Denver real estate market that have the experience or skill set to analyze any market and determine the optimum price that will sell their client’s house in the shortest timeframe.

When evaluating your listing agent, it is important to pay attention to the marketing and communication plan, but it is absolutely imperative that your agent can recommend a listing price for your home and concisely illustrate the methodology to arrive at the listing price.

The analysis should illustrate the general market conditions of the area, inclusive of current market conditions, employment factors, increases or decreases in property values during a 36 month timeframe, owner vs. tenant occupancy and comparable units for sale. It should illustrate the marketability of the subject property inclusive of neighborhood value ranges, marketing time in the area, and specific comments regarding the positive and negative characteristics of the property that could affect the value.

If your real estate agent provides you the analysis illustrated in the paragraph above, you are working with an agent that is a step above 90% of the other real estate agents in the Denver CO real estate market. However, if you want your home to sell faster during a buyer’s market, you need an agent that will comprehensively evaluate the following characteristics of your home to arrive at the optimum listing price. Such market factors and home characteristics as seller concessions, days on market, neighborhood location, site size, front and back yard views, house style, condition, room count, basement finishes, heating and cooling features, energy efficient items, types of porches, patios and decks, fireplaces and basement types.

If all of the following home characteristics are evaluated and compared against three to six past neighborhood home sales and current listings during a twelve month time frame, it is without question that your agent will be able to recommend the optimum price to sell your house in the shortest time frame. Remember, 80% of selling your home in the shortest time frame is a result of pricing it at market value from the beginning.