(Published on - 7/7/2015 5:22:14 PM)
The process of selling luxury real estate and condos in Arizona is in a class of its own. As a luxury real estate home and condo professional, I am happy to share some TOP SECRET insight into how we manage and sell luxury homes, condos, lofts, penthouses, and more in Tucson Arizona.
Many real estate agents don’t have a clue when it comes to selling a luxury home or condo (Penthouses included). The same can be said for owners of luxury homes, condos, penthouses, lofts, and properties.
9 Secret Tips For Selling Luxury Real Estate and condos
SECRET TIP#1: innovative Marketing, Professional Photos & Video
All Marketing is good marketing in fact any marketing is better than no marketing. Marketing is the key to any business, and selling a home is, indeed a business transactions. “By utilizing the right print, right social media slogan, right blogs, right websites, right photography and video, and the right agents – a luxury home and condo can gain the level of exposure necessary to target and bring in the right buyers. We have a large network of contacts to help gain traction and get the motivation of high-end buyers and their agents.
SECRET TIP#2: You Never get a 2nd chance to make a first impression
These words Curb appeal, staged, feng shui are heard throughout real estate talk. They are very powerful! The wrong staging, property landscape (front and rear), or property flow can turn the right buyers away. From enhancing your properties curb appeal by having your landscaping trimmed to rearranging the furniture to your swanky penthouse, there are numerous ways to capture the interest of buyers from the moment they arrive to your property. First impressions don’t start at the showing they start when the property photos and video are taken.
SECRET TIP#3: The best asking price for your luxury home or condo?
Setting a realistic price for your home or condo that reflects current market values will help sell your property quickly and for top dollar. When you price your property properly, you increase the chances that the offer you receive will nearly match your asking price, and that there will be competing offers—which may net you even more in the long run.
Your property has the best chance of selling within its first seven weeks on the market. And, studies indicate that the longer a property stays on the market, the less it will ultimately sell for. A property priced 10 % more than its market value is significantly less likely to sell within this window than a property priced close to its actual market value. About three-quarters of homes on the market today are 5-10 % overpriced.
SECRET TIP#4: When is the best time to sell in Arizona?
In Arizona the luxury home and condo buying season begins around mid-January and runs through June. The best time to put your luxury property up for sale is during these months. Not saying that any other month is not the best but there are more sales that occur during Jan-June than any other months. December also seems to be a huge buying time for high-end buyers. Why not list during this time, weather is starting to warm up, sun is out, and people seem to be outside more during these months.
SECRET TIP#5: PATIENCE
No matter what the market conditions are, some sellers feel they need to rush.
In Pima County (Tucson, OroValley, Marana etc) currently there are 1,856 properties priced at $1,000,000+ and only 180 homes sold (Jan 2015- March 8 2015) at $1,000,000+ (10% Chance of selling – not great odds).
On average it can take you six months to a year to sell a luxury property. Don’t expect a quick sale but you can help your time frame by pricing right, having the right marketing, and the right agent. There are more homes than buyers in this market and the numbers above prove that. High-end buyers tend to be pick and they can so be patient with them and the process.
SECRET TIP#6: Happy Wife Happy Life
Work with, not against your agent – Our objectives is to satisfy our clients but sometimes that means the sellers have to hear the TRUTH about their property, the staging, and listing price. We consider ourselves professionals and are here to be honest and set realistic goals. The better an agent and client can communicate, the more the client will feel empowered and understand what needs to be done in order to fulfill expectations.
SECRET TIP#7: Are the Location and Lifestyle being portrayed correctly?
A Luxury home, swanky penthouse, or urban loft is all about Lifestyle. If a luxury home is part of a development which includes a clubhouse or golf membership privileges, it’s important they are being showcased in the listing information and photos/videos. This is a reason why utilizing professional photos and video or virtual tour become an intricate part of the marketing and the best way to present the home and lifestyle as one!
SECRET TIP#8 How Sweet it is!
Everyone loves sweets and so do buyers. Throw in something to sweeten the deal and guess what it can be a game changer. Your custom furniture, selective art pieces, or even your car can become the leverage you need in order to motivate the buyer.
SECRET TIP#9 Get Listed with us - GET YOUR LUXURY HOME OR CONDO SOLD TODAY !