There is a massive difference between selling an average-priced home and a luxury home.
Most estate agents are well versed in selling average-priced property, but these will not be the best agencies to sell luxury real estate as this has its own unique market, and average just won’t do. Below is what you should expect from a luxury real estate agency.
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Experience:
A luxury real estate agent should have a lot of experience in this market. They should not be starting in this industry as they won’t have the contacts or the know-how to do the best job of helping you buy or sell your home.
This is one of the most important transactions you will ever make, and you need to make sure that your real estate agent has enough experience to do a great job for you.
Outstanding Marketing Service:
The marketing of a luxury property is key to making a sale. Over 90% of people look on the internet to find their next home and a luxury real estate agency should have a great market presence.
They should be able to advertise your home on the most exclusive websites and in the most exclusive publications as they are trying to attract a very niche group of buyers.
You can expect a luxury real estate agent to use a dedicated team of professionals to make your home look its best.
For example, they should be using a professional photographer rather than trying to take photos themselves. The photographer they select should be experienced in drone work as these will take the best ariel shots of your home.
They should also be able to create a video and website that is dedicated exclusively to your property.
Networking:
As well as having a great online strategy, luxury real estate agents should be able to use their own networks to buy and sell properties. Ask your potential realtor if they are members of any notable organizations.
An exclusive organization can often only be joined by invitation. This means that your agent has to be well connected to gain entry and, once there, they will get to know a lot of people who may be looking to buy luxury real estate.
A luxury real estate agent will have a lot of business connections too. Even if they do not have your perfect buyers on their books, they will know who to ask within the industry and be able to obtain an introduction to interested parties.
Word of mouth can be an important networking tool, so they should have well-established connections.
Insurance:
All businesses should have insurance in case things go wrong.
However, a luxury real estate agent will need to be covered for a larger amount than a standard agency because they are dealing with high-end homes and there are more expensive things that could go wrong.
Ask your potential realtor if they are insured. They offer coverage for real estate agents up to the value of $2 million so you know they are well covered if things were to go wrong.
Personal Service:
A luxury real estate agency should assign one realtor to you rather than letting everyone in the office working on your property. This personal touch really sets a luxury agency apart from the more standard ones that will offer the free-for-all approach in selling your property.
A luxury realtor should do their homework well when it comes to selling your home. They should get very familiar with the layout and know the key selling points inside out.
They should also get to know the local area well so that they can answer any questions a potential buyer might ask them about things such as local amenities and transport links.
This expertise will help them to sell your property and they can work out what the potential buyer is looking for and therefore what points about your home they need to emphasize to sell it.
It is worth taking your time to select the right luxury real estate agency for you and ask relevant questions. Not all agencies offer the same personal touch or service and if you are selling a luxury home, you will want to know you have a luxury real estate agent too.
