By Meghan Belnap
A luxury home might make you think there's little need to advertise or do the same things you do with a starter home. However, the opposite is true. It's imperative that listing agents use a larger budget and give more attention to these homes; otherwise, the sale may not happen. Here's how to market luxury homes for better sales:
Use the Right Jargon
Did you know people prefer agents who use another term rather than "luxury" to describe high-end properties? Words like prestigious or affluent come to mind. Another preferable term is estate home. Luxury sounds indulgent to many people. To make sure you can sell your top property, a change in vocabulary may help attract the right buyers.
Create a Story
Luxury homes need character and branding, much like top businesses. To ensure people can emotionally connect with the property, background is necessary. Talking about famous owners, lavish parties or historical details are key to opening up a conversation and helping potential buyers feel more comfortable. Architectural details can often spark new topics with strangers visiting the open house or reaching out through social media.
Upgrade Your Features
Extravagant homes need top features and characteristics. Things like an outdoor hot tub, walk-in closets, master suites, balconies, two-story decks, recreational areas and premium appliances speak to high-end buyers. Finished basements, lavish material, bonus areas, extra bedrooms, guest spaces, movie rooms and nearby recreational facilities are alluring. If the property is in a community where there are additional bonuses like a homeowner's association (HOA), then that can also help entice buyers to put in a bid. Things like maintenance and landscaping, on-site swimming, clubhouses and walking trails usually come as perks of HOA membership.
Never skip on the producer's budget because a top-notch clip or photo array may make the difference in landing a buyer. Incorporating these items on every social media page is important to selling fast. Grabbing the attention of the right buyer might mean you never have to go through the open house. You will save money on staging that you can put toward photos in these cases.
Even if you have to jack up the listing cost, you can still appeal to buyers. The key is to give them something unexpected or worthwhile. An area they can enjoy, or an upgrade that you do not see in every house may be all you need to get top dollar. Another tip is to use extravagant print items—posters, brochures and banners still sell homes.
Meghan Belnap is a freelance writer who enjoys spending time with her family. She finds happiness in researching new topics that help expand her horizons. Looking to purchase a luxury home? Belnap recommends working with Carol Royse Luxury Division.