There’s always suitors for a top of the range residential property and you want to make sure that you get the best price possible. Considering the price that you paid for it, you’d want to get the most out of your investment. Unlike standard sized houses, selling a high end property is a little bit different. It’s all about the timing and price that you set. You need to remember that your target market will be high end homebuyers, so they may not even look to view the property. They might simply get their agent to do all the work for them. So, when selling your luxury property you’ll need to remember these top tips to help sell quickly and at the right price.
Get a luxury property agent
If you’re selling a luxury property, you need to equip yourself with a luxury property agent. You don’t want the property to be sold short of price and having a property agent who’s previously dealt with luxury property will be more confident to sell the property at the right price. It’s likely that they may also have a portfolio of buyers who commonly deal with luxury residential property so they’ll find it easier to build rapport with potential buyers who are viewing the property.
All of these points are valuable towards selling your luxury property at the right price through your property agent.
Ensure your valuation is accurate
As you have a limited audience to sell to when it comes to your luxury property, you need to make sure that you the price it’s valued at is right. The property market is far smaller and there are fewer properties to select from so having the right price will attract plenty of suitors.
The estate agent that you choose should have experience in selling properties in the luxury market. They’ll know what’s valuable and can add to your property value as well as giving an ideal range to price it at compared to similar properties on the market. Let your estate agent deal with these kinds of technicalities as any judgement from yourself could be clouded due to your connection with the home.
Market the property right
Consider in detail the marketing of your property with your estate agent. How you market the property could be key to bringing in potential buyers for your house. Are you able to bring in a professional photographer so the pictures are clear? Would you consider a video or maybe even a 3D viewing which can be displayed on social media or housing websites? Homestaging is a popular way of gathering people to view your house and see exactly what your house looks like and whether they could see themselves living there. The only downside to home staging is that it can lower the standard of ‘luxury’ to your property as it makes the house available for viewing to many people, rather than a selected few. Check with your property agent if this would be the correct option for your property.
Carry out repairs that are only needed
For most people in the high end property market, they want to make sure that the property they purchase suits their style and trend. The majority of the time, they’re just looking for the right size house to get stuck in with the minor details of furbishing the place. Therefore, to save yourself a bit of pocket just ensure the main decorating is carried out. This will be major fixes such as central heating, brickwork, water pipes etc. because the remainder will likely be changed by the new homeowner. The last thing you want is for the new property owner to arrive and realise there are some major issues with the property and then have dispute resolution lawyers taking you to court as it wasn’t mentioned in the original legal documents.
Taking into consideration these 4 tips will provide you with a guideline of how you should go about selling your property. Once that’s out of the way, you can then consider the next steps such as getting in a residential conveyancing solicitor to transfer the details over to the new property owner and paying any additional fees that are required.
John James is a content writer for Learn To Trade, the foreign exchange education and learning specialists – offering a range of training courses to help people understand the currency trading market, as well as its opportunities and risks.