Working with a professional agent can make a big impact on how the process unfolds when selling luxury real estate.
Selling luxury real estate in Kelowna requires a unique skill-set. Without the right combination of experience, confidence, and aptitude, a Realtor® might struggle to attract the type of exposure your Okanagan property deserves. That’s why it’s important to seek an agent who thrives in an upmarket environment.
Similar to selling high-end automobiles, upscale properties need professional sales associates who understand the unique characteristics of the property, as well as the kind of the clients they attract. And that’s just the start. They must also face the unique challenges of:
1. Pricing Luxury Real Estate
Unlike many entry- to mid-level homes, luxury houses aren’t mass-produced by a single developer. They are typically designed by architects and custom-built by expert craftsmen. This makes it extremely difficult to price homes in this market because it’s challenging to find a list of comparable properties.
An experienced sales agent will understand the intangibles associated with high-end homes in Kelowna and help you determine a realistic asking price. In addition to a home’s size, build quality and amenities, they will factor in things like:
- Current market conditions
To learn about other important factors when dealing in high-end real estate, read: Luxury Real Estate Tips: Beyond Location.
2. An Invaluable Resource
To sell luxury real estate, the listing agent must become highly familiar with the property and its surroundings. That means doing research to:
- Learn about the neighborhood and the people in it
- Know what local amenities are available
- Understand your home’s key selling features
- Detect and address any potential obstacles to a sale
Some sales agents will even visit other relevant properties to understand how your property fits into the picture. Armed with this information, your Realtor® will be ready to field questions and address any objections or concerns as they arise.
When it comes time for showings, your Realtor® will be able to walk visitors through the complexities of the property and highlight key benefits so they understand its value. This requires an understanding of a high-end buyer’s needs to help them invision themselves living in your home.
3. Marketing for Success
Buyers in today’s luxury real estate market can come from anywhere. A quality Realtor® recognizes this and will apply their broad industry connections and resources to promote your property effectively so that it reaches the target audience.
Part of that includes enforcing strategic, ongoing social media marketing campaigns and hosting a professionally designed website that will showcase your listing for maximum effect. This includes:
- Stylish web design that’s easy to navigate
- Professional videos and photography
- Detailed information providing buyers with everything they need to know
It’s not uncommon for buyers to make an offer on a home sight-unseen, based on what they see on a website listing.
Selling luxury real estate is a specific industry niche that is best handled by a professional sales agent. To earn maximum return on your next listing, call the specialists at Quincy Vrecko & Associates.