10 Tips for Selling a Luxury Home
It’s a problem many wouldn’t mind having but relatively few ever face: preparing a luxury home—priced at $1 million or more—for sale. But with nearly 450 such homes on the market in the tri-county area, it’s a real issue for many.
Thankfully, luxury homeowners have a variety of options to help make their homes stand out from the rest of the high-priced pack. The following is a list of 10 things the luxury homeowner should consider before putting their house on the market.
1. Mow the lawn.
Okay, do a lot more than mow the lawn. Many luxury homes are on multi-acre properties, and the first impression a prospective buyer is going to get is of the landscaping. Make sure it is impeccable: trim bushes and tree branches; remove fallen branches and dead leaves; replace dead flowers. And don’t think that because it is winter you don’t have to worry about landscaping: it’s just as important even when there is some snow on the ground.
2. Answer the door.
Luxury homes usually come equipped with luxury entrances. If the surrounding landscaping represents the first impression a property makes, an entrance represents the second impression. Make sure the door is in top-notch shape: repaint or replace the door if necessary. Are there light fixtures on either side? Make sure they’re working properly and have new light bulbs inside. Clean away any dirt and polish any brass.
Nanci Rands, a real estate agent with Birmingham’s Snyder Kinney Bennett & Keating, rates a spotless entryway near the top of her must-do list.
“There’s nothing worse than having a high-priced home with a low-impact entrance,” Nanci says.
3. Take a seat.
If the furniture is showing its age, rent some newer pieces. Decorating is crucial, according to RE/MAX Showcase Homes’ Tom Tedesco: “If the house looks beautiful on the outside but is cosmetically dated on the inside, it isn’t going to show well.” And make sure the new furniture is representative of the home: skip the twin recliners with built-in cooler.
4. Get creative.
Clutter’s a no-no, but make sure there is some art on display, maybe inherited pieces or intriguing items purchased abroad. If you’re hiring a decorator to help prepare the home, it’s possible they can provide some pieces. But make sure the display pieces fit the period or style of the home. “You don’t want to mix English country furniture with modern abstract art,” says designer Enid Wasserman. Enid’s company, A Fresh Approach, helps homeowners decorate homes entering the market. “The art should accommodate the furniture,” Enid says.
5. Spare no expense.
Remodeling a bathroom or adding new windows may not be a good idea for someone selling a lower-priced home—odds are, they won’t get their money back in a sale—but it’s entirely possible that investing in a modernized bathroom or kitchen will pay off in the sale of the luxury home. Mike Anspach, who works at Century 21 Town & Country in Birmingham, sums it up well: “A person in the market for a luxury home is not looking for a fixer-upper.”
6. Get small.
Smaller structures on the property, from detached guest or servant quarters to garages and storage/garden sheds, should receive the same attention to detail the house receives. If there haven’t been occupants in the detached guest or servant quarters for a little while, make sure everything is in proper working order.
7. Publish or perish.
Top-of-the-line housing requires top-of-the-line marketing. Brochures and other marketing material left in the house for agents and prospective buyers should be properly bound (skip the staples) and full-color throughout.
8. Feed ‘Em.
Typically, real estate agents hold tours once a week to check out houses that are new to the market (sometimes called “caravan tours”). Since these are the folks that will potentially bring a buyer to your property, make it a special occasion by catering the tour. It doesn’t have to be anything too elaborate—don’t worry about lobster or caviar—but it should be memorable.
9. Buddy up.
It’s great if you want to give cousin George, a new real estate agent, your listing, but keep in mind that it will probably pay bigger dividends to go with an agent experienced in the luxury market. To find such an agent, ask around for references or take note of agents working in the same community or similar communities. Interview three of them: ask for references and also ask about similarly priced homes they have on the market or a few they sold recently.
10. Keep it simple.
Obviously, there are many things to consider when putting a luxury home on the market. But the same rules for lesser-priced homes apply: clean out the garage; store all excess clothing, equipment and other clutter in storage rental; paint; make sure the kitchen counters sparkle and the lights shine, etc.
It may seem like a lot to keep in mind, but with proper preparation and careful attention to detail, a luxury home can really come across looking like a million bucks. Or, rather, ten million.
Fine Homes and Luxurious Living