The prospect of gaining a slice of the luxury market pie is an alluring prospect for many realtors, especially for newbies who are throwing their hats in the ring for the first time. Becoming a legitimate luxury real estate agent is no joke: It requires that you buckle down seriously to do the work. To earn the typical 3% commission off of a multi-million-dollar listing, you need to be able to walk the walk—in other words, work at achieving the required level of expertise to sell a luxury home. How do you manage this? Read on to find out.
Anyone who sells real estate knows that the luxury home market is a whole different ball game. Due to their prices, high-end houses in Atlanta typically appeal to a narrower pool of buyers. This presents a unique challenge for sellers looking to sell quickly. When it comes to high-end property, everything from the specialized décor to the home marketing strategy has to be optimized for a very specific audience.
If it’s your first time dealing with such an exclusive market, you’ll very likely find you can’t just break into this niche without a solid understanding of Atlanta luxury home values and how they’re priced. You’ll be sure to benefit from the insights of a mentor who’s already familiar with what it takes to market unique high-end properties. Be—at least initially—open to working under a luxury home specialist who can help you get your feet wet.
Also, be aware that learning the ropes in this market may require a ton of patience on your part, especially given that it’ll still be your job as a seller to sell the home—and sell it fast! If you find yourself desperately googling, “how to sell my house fast in Atlanta,” you’ll be sure to appreciate these five tips to help you rope in the right buyers:
- Know what you’re getting yourself into
If this is your first time selling in the luxury market, don’t be disheartened by how long it takes to sell. According to the National Association of Realtors (NAR), the average home will stay on the market for a median 31 days. Compare this to luxury single-family homes priced at $1 million or more, which usually spend a median 54 days on the market.
As a seller, it will help to understand that selling quickly in the luxury market is all about being specific. Potential luxury home buyers usually know what they want and their price range, so it all boils down to working with a buyer’s taste and preferences.
- Work with a real estate agent with proven experience in the luxury market
When entering the high-stakes luxury market, it never hurts to have the help of an expert. Having an experienced agent by your side is a boon in any real estate transaction, but in the luxury market, it may be imperative. All real estate brokers have their specialties, and as such, you’ll want to work with someone who’s had prior experience navigating the inner workings of the luxury real estate market.
Fortunately, finding a realtor shouldn’t be difficult, as you can limit your search to luxury real estate groups. Just be sure to do your research and look through any past-sale portfolios they may have, or check out any reviews left by past clients.
- Invest in quality visuals
Making sure your listing has lots of quality imagery is vital, especially in these current times. In fact, regardless of the market, buyers are more likely to look at pictures than they are to read the listing. As such, you’ll want to invest in high-quality photos and consider including videos and virtual tours to your listing as well. Hire a professional real estate photographer for the best results!
- Cultivate a brand of exclusivity
Here’s a pro tip: skip the standard public open house and do appointment-only viewings instead. This will make viewing the property feel more like a “privilege,” which will help cultivate a brand of exclusivity among potential buyers. As a bonus, you’ll also avoid wasting time setting up the home for an open house that will likely attract people who only want to view with no real capability nor intent to buy.
- Market appropriately
The saying “it takes money to make money” is especially true in the luxury market, so brace yourself to invest in top-notch marketing materials on top of professional home staging and real estate photography. In this digital day and age, putting up a “sell my house” listing on a Facebook page targeting Atlanta buyers isn’t likely to reach your target clientele.
When creating your listing, make sure to emphasize the unique, high-value features of your home as the primary selling points. Lead with these features—they should be highlighted on the marketing materials and should be the focal point in photographs and videos on the listing.
Looking to get the best property value in Atlanta, GA? Reach out to us here at Natalie Gregory & Co., and our team of expert real estate agents will get in touch! Call us at 404.550.5113 or email us at natalie(dotted)gregory(at)compass(dotted)com for a consultation.