Low inventory means that homes are selling faster than they have since the peak of the market. Homes sell in less than 30 days because the sellers and their listing agents take the proper actions to get the home sold.
And, it is more likely that your home will sell almost instantly if it’s at the lower price range. If you are thinking about selling your luxury home you still will need to pay attention to the small details.
Homes in the luxury price range are selling. They just aren’t selling as quick as at the lower price range.
Did You Know? More than 11 percent of homes sold had a sales price over $500,000, and sales increase was highest among homes in above-median-priced categories.
Gather Paperwork and Discover How Much You Owe On Your Mortgage
Luxury homes generally have a lot of high tech features. Our professional luxury real estate photographers suggest that you gather all your paperwork for appliances and the systems that operate your home. FYI – you will want the manuals for the new owners as soon as you’ve actually SOLD.
Over the last few years, low interest rates have contributed many affluent homeowners to take a mortgage on their home. Before you make the decision to sell your home you ought to find out how much you owe.
The balance on your mortgage won’t influence the price you get for the home. In addition, you will want to know that your home has sufficient equity to cover paying off the mortgage after sales expenses.
If it doesn’t, you may have to come out of pocket to pay the difference to think about whether doing a brief sale is an alternative. It’s better to find out how much equity you have in your home before listing rather than getting an unpleasant surprise later.
Hire A Realtor With Knowledge Of The Luxury Home Market
Begin by interviewing your local luxury home experts. Next, find out what steps they will take to market your home to qualified luxury home buyers. Do they have a team to assist them with listing showings when they’re on other appointments?
Just how many other listings do they have in your area? Having more listings in your specific area may give them expertise.
An experienced luxury home agent is generally the best option but you may want to consider a newer agent. If you employ a less-experienced agent, ask how they will promote your property. Make sure they’re prepared to shell out money on professional luxury real estate photography, ads and marketing.
Can They Call On People Realtors For Suggestions?
Do they network with luxury home agents in other areas? If the answer to these questions is yes, then they may already have a community of agents who have the correct home buyer for your home.
Choose if Your Home Should be a Pocket Listing? A pocket listing is if you list your home exclusively with an agent but don’t allow them to set it in the MLS. Most sellers who insist on pocket listings do not want their home advertised in print, online or to the general public in general. The listing agent is only allowed to promote the listing by word of mouth to their buyers and/or other agents.
We only advise a pocket listing in most situations where the seller doesn’t want anyone to know they’re selling. Listing your home in the MLS is the most effective way to get it sold for the best price in the least amount of time.
From the MLS it can be syndicated into a host of sites that will introduce it to buyers all around the world. The more eyes that see your home, the better your chances of getting it sold almost instantly and for a fantastic price. Furthermore, a pocket listing may secure your privacy but it handicaps the marketing efforts.
Ideally Price It
Pricing a luxury home is much more challenging than pricing tract homes where there may be a variety of comps that are similar. In addition, custom features and upgrades vary from 1 home to the next. The luxury home with the latest tech features and a perspective will get a better price than the outdated home next door with absolutely no view.
An exceptional real estate agent will be able to take these differences into consideration when helping you price your home. Moreover, potential home buyers will wonder what’s wrong with it and assume that it is over-priced.
In the end, you get a better price if you price it right from the start. If you under-price your home, you are likely to create a bidding war that brings multiple offers and bids the price up.
Suggest Professional Luxury Real Estate Photography Services
Today’s home buyers start their home search online. They look at the photos and virtual tours of homes. At the lower price ranges, a home may sell quick just because it is priced right and in a desirable area. In higher price ranges, you will need great photographs. Luxury homes can have finishes like dark wood that do not appear well when photographed with a cell phone.
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