You might think there isn’t much difference in buying and selling luxury properties compared to the average residential home. It’s true that the rule remains mostly the same. However, the big difference is in the market that you’re targeting, their purchasing habits, and what they’re looking for.
Whether you’re looking to rent or sell, whichever way that you want to make money off of luxury properties, here are a few things you need to consider when you’re targeting the higher earners out there. Here are a few tips on how you can win them over.
Sell Them on the Experience
If you can grab your buyers (or renters) by the heartstrings, then you are going to be able to make a much more convincing case for the property. One of the things about luxury properties is that they are all expected to have the basic amenities that buyers might have to look harder for a little further down the market. You’re not going to sell people on the basic features, you are going to sell them on the kind of experience they can have there. As such, appropriate staging for the property, great virtual walkthroughs of the home, and marketing copy that sells the kind of lifestyle that one can enjoy there are going to be much more valuable. You should be telling prospective buyers how this property is going to change their life.
Make the Location One of the Biggest Draws
This is true of every property, of course. The location is always going to be one of the most important things to focus on. However, when looking at buying properties to sell, you need to readjust to focus on the lifestyle that the area enters. You can still find properties that are both coastal and inland that have good proximity to excellent experiences and vistas, such as beaches, woodlands, and other kinds of outdoor adventure trails. Other locations might benefit from being close to urban centers and high-end nightlife. Know the benefits of living in that area and make that a focus of your marketing.
Don’t Waste Your Money Making Little Changes
Luxury homeowners are picky, but not for the same kind of details that other buyers are. It’s true that any major or obvious issues should be fixed as soon as possible. However, that doesn’t mean that you should go bending over backward into making the home perfectly suited to the changing needs of the market. One of the things about luxury buyers is that they tend to renovate the properties that they move into, even if it’s perfectly fine by itself. As such, what you should focus on is selling it as is. If they come back with an inspector or surveyor who highlights an issue, then you might want to make adjustments, but don’t proactively give yourself more work to do when they could buy it as is.
Luxury buyers are a different kind from the regular, so it’s important to know their habits and preferences. The above examples are just the start, get to know more from others selling property in the area.
