While a high-end home might seem like it would sell itself, in reality many buyers at this price point have extremely high expectations.
According to experts, these homes are challenging to sell due to the smaller buyer pool and heightened expectations around quality and finishes, plus potential renovation costs. Even the super rich don’t like to experience buyer’s remorse, it seems.
An experienced team will convey the intangible qualities that luxury buyers are looking for by creating bespoke marketing plans from start to finish, avoiding one-size-fits-all strategies.
Because, at the end of the day, if a home doesn’t meet buyers’ standards they may expect a bargain price, meaning you could lose out as a seller.
To celebrate the launch of realestate.com.au’s Luxe setting, we’ve taken a look at how to get the best price for your high-end property, according to the experts:
Sellers need to identify the key highlights of the home and work them into an overall theme that will appeal to buyers.
This could be the trophy ocean home, grand family estate or contemporary creative space.
Identifying an overarching narrative will help to craft a strong, cohesive marketing strategy from the start.
First impressions count, so make sure your luxury listing is in top condition before potential buyers start viewing.
“Everything comes down to presentation regardless of whether the property’s market is above or below the line,” explains Rob Curtain, managing director at Peninsula Sotheby’s International Realty.
“You’ll want everything in order before the photographer shows up and starts blasting away.
“Clean the home, clean the gutters and look at ways you can add value. This may mean doing things or fixing things three months before the home hits the market, but it’s worth it.”
Curtain adds that all personal items like photographs, should be packed away.
“There is a huge psychological element to it. Buyers want to show up and see themselves in the home rather than feeling like they are trespassing.
“We say in a home you want signs of life but not signs of living,” Curtain says.
Finally, consider investing in staging. Bringing in professionals can help remove the seller’s emotions and ensure the home is on trend.
Georgi Bates, director of residential sales at Cunninghams Northern Beaches Real Estate, stresses that having giving a listing maximum exposure is “absolutely essential.”
She adds, “You get one opportunity, and you don’t want to leave any stones unturned, but you will get the best exposure by having your listings on premier platforms.”
While luxury sales were once marketed through glossy print media, today’s tech-savvy world sees even luxury buyers discovering properties online.
In Australia, realestate.com.au is the top-selling platform, attracting more than 181,000 high-net-worth visitors and recording 814,000 searches for properties over $5m monthly*.
Sellers also have more exclusive options. Realestate.com.au has launched Luxe, a high-performance digital marketing solution for top properties on realestate.com.au. If your property deserves the extra attention with Luxe, you’ll get the ultimate exposure and new features that ensure your property gets the best possible results.
While everyone appreciates real estate photography, the importance of top-notch visuals is often overlooked, especially for high-end homes.
“Pictures are absolutely priceless because they show you so much,” Bates shares.
Furthermore, she adds that video walkthroughs offer an extra immersive way to showcase a property.
“Basically, videos are like a thousand pictures. People can experience the space and know how the rooms connect to one another.”
When planning visuals, cover all aspects covered in the listing, including indoor and outdoor highlights.
Go beyond standard photo shoots – think aerial shots to showcase gardens and views and photos taken at dusk to illuminate nighttime charm in entertainment areas or pool settings.
The best agents know that knowledge is vital when marketing to affluent buyers, and Curtain says understanding buyers and market trends is essential.
“We’ve seen a really dynamic market in recent years with the pandemic. Things can change so fast, so the more data an agent has, the more quickly they can respond.
“With the data we have now, we can do some amazing things.
“We can drill down to know the areas of the country that our buyers are looking in. “It helps our agents understand which pond the largest fish are going to be swimming versus just throwing it out there into the ether.”
Agents will usually rely on their own resources, but data gathering from other sources will help them stay ahead of the market.
Property listings on Luxe generate real-time audience data, including how long viewers engage with the listing and the size of the potential buyer pool.
Enticing and detailed descriptions are vital in the luxury market. Highlight architectural design, premium materials, and exclusive amenities with language that inspires potential buyers.
Seasoned agents know the benefits of an engaging listing, but it can be challenging if not done right.
On Luxe, sellers can utilise a specialist to help create the perfect listing description, capturing the right character while ensuring optimisation for maximum visibility online.
Premium property buyers may have deep pockets but are often very discerning regarding quality and value, so competitive pricing is key.
“Pricing in a seller’s market is easy,” explains Curtain.
“But agents who don’t know what they’re doing or who don’t price properties effectively will find that they’re not selling properties in a tougher market.
“It also cuts both ways. Buyers are often now as equally informed as they can see the historic and comparable sales data.
“So agents need to get the price right, or they will find the property just won’t move.”
Luxe clients have access to current data on market trends and valuations, as well as the price ranges their interested buyers are looking in enabling agents to price properties confidently.
Once your listing is live, it’s important not to set and forget. But keeping your listing front and centre can be easy for Luxe clients.
Once live, the marketing engine takes over generating targeted ads, social media promotions, and email campaigns that will exponentially improve visibility.
Plus, sellers can track performance through realestate.com.au analytics and adjust if there’s a change in strategy.
To increase the visibility of your luxury properties, go to where the best properties belong, Luxe.
Presented by realestate.com.au
There are so many things to remember when moving into a new home. Unsurprisingly, when the to-do list seems to just keep on growing, it’s easy for things to slip off the schedule. Just make sure it’s not these! 1. Get insurance Remember, you may need to start looking into … Read more
Moving into your dream home has to be up there with one of the most exciting things in life, which means doing all the right checks on your potential new asset could not be more important. Joshua Kelland, Head of AAMI, says it is worth doing your due diligence on … Read more