Luxury homes are in a realm of their own. Where simpler residences are tethered to the world of necessity, top-of-the-line properties transport their owners to a place of limitless imagination.
However, this is simultaneously a blessing and a curse for real estate agents. On one hand, the potential for luxury living inspires and excites buyers in a way pared-down properties are unable to. Impress a client with a bespoke sound system or a well-lit swimming pool, and the sales process becomes significantly easier. Yet the fact that luxury properties indulge fancies rather than necessities means the criteria for investors can be more niche – and thus more difficult for agents to fulfil.
Here, we introduce a selection of the specialist strategies required for selling luxurious homes.
1. Market more than just the property
Emphasising the plush status of a home can play a role in its sale, offering a fresh new avenue for real estate agents. No longer are these buildings thought of simply as 'houses': in higher-tier price brackets – and in different parts of the world – a deluxe property can be advertised as a beach condo, holiday hideaway or even a pied-à-terre. Harnessing the concept of luxury living is essential to marketing an upscale home with success.
The most vital step for you as a homeowner, then, is to determine which aspects of luxury living are compatible with your property. Is your house within close proximity of a golf course or marina? Does it feature any sought-after amenities, such as a jacuzzi or tennis courts? Any and all of these components can – and should – be used to your advantage when selling luxurious homes.
2. Use professional staging
Premium properties rarely sell on data alone. Your home's list of high-end facilities may well be long, but it's the overall atmosphere of it that's most likely to win over a prospective buyer. One of the best ways to capitalise on this when selling luxurious homes is to commission a professional to assist with staging.
Research proves that staging is highly effective. Properties tend to sell quicker and often at a higher price – as much as 20% more – when their most attractive features are emphasised. A professional will assist you with highlighting these, and will help tie the key selling points of your home into the idea of luxury living.
3. Position yourself in the luxury market
The truth is that there's no clear dividing line between high-grade properties and the rest; no straightforward definition. This means you'll need to do all you can to clearly position your home in the upscale market, which begins with choosing a luxury real estate firm.
Not only does a premium agency possess the necessary experience of selling luxurious homes, listing with them will increase the chances of your property seeming superior to others. In a marketplace that's based on perception, a shrewd and skilled sales team is an absolute necessity.
Engel & Völkers is a leading voice in the real-estate industry, with particular expertise in luxury living. We're represented in 32 countries, across four continents. Browse our website for additional insight into the process behind selling luxurious homes.