Selling or Buying Your Luxury Property
Why using the right team matters
Selling a luxury home is very different then selling a standard house. While any broker can list a house for sale - only a select few will get you the top dollar you seek when selling your home. 95% of real estate agents do not care about getting you the right offer and profit - they view it as merely a transaction. Losing out on 5% of a $2 Million home can cost you $100,000 in profit. We will explain why the right realtor makes all the difference.
Experience in the luxury market – TriVista's agents have a proven track record of experience in navigating the luxury real estate market in Newport Beach, Corona Del Mar, Newport Coast, Laguna Beach, and the greater Los Angeles area. Pricing and advertising are crucial. We set a reasonable price target we feel we can achieve and exceed with competitive bidding. Our team will not tell you your home is 20% more to get the business - only to fail miserably and have you sit on your home for six months.
Professional staging – One of the most important parts of selling your home is having the property properly cleaned and staged. While your house may be perfect for you it may be a bit too customized for other's individual taste's. Our job is to create a story through staging whereby a potential buyer can see themselves actively living in the house - without being overwhelmed by your style.
Setting the right price - The tricky part of selling a luxury home is pricing it correctly given the variables of the home, the local economy, supply and demand, and other market forces. Pricing it wrong and your home will sit on the market for months and look stale; price it too low and you won't be happy with the price you sell.
Photos and Videos – We recommend at least 30+ high quality photos - sometimes the same shot, but at different times of day - see sample. Our marketing team has been in the advertising business for over 20 years producing nationally aired television commercials - they are experts on selling. Did you know having a video of your property produces 300% more views - and, having a drone do aerial flybys with music produce 400% more views?
Marketing wisely – When it comes to selling a luxury home, a yard sign and an MLS listing shared on your Facebook page aren’t going to cut it. Luxury buyers aren’t looking for homes in the standard places, so that’s not where you should be focusing your marketing efforts. It takes money to make money, so expect to invest in top-quality printed marketing materials, in addition to professional staging and photography.
Private showings - It is more productive to have clients view videos and show the property to other real estate agents, who in turn, can generate excitement for their buyers. We cultivate an air of exclusivity when selling your luxury property, which means, ditching the open house in favor of appointment-only viewings - with Covid-19 this has become standard. There are multiple benefits doing it this way: one, you make buyers feel seeing the property is a privilege and an event, and you avoid wasting your time setting up your home for an open house, which will be filled with non-buyers who want to experience what a luxury property feels like.
Your buyer pool is limited, but that's okay! When selling your luxury home, it is less about getting as many buyers as possible through the door as it is about getting the right buyers through the door. And, wealthy buyers don't like to come to open houses.
Focus on key features - Avoid falling into the "Mini Mansion" trap by working to set your home apart, a home set apart from other properties in the same price point - we recommend downplaying standard fixtures buyers will find elsewhere (such as marble counter tops) and highlighting the accents, which make your home so special (such as a 1000 bottle wine cellar).
The unique, luxury features of your home is what will be your selling points. These features are featured prominently in the photographs (often an extra picture) and videos on your listing and are mentioned as assets in any written marketing materials. Our team is trained to lead the features, which distinguish your home pulls the buyers in.
Develop your home's "brand" - One key to effectively and efficiently market or sell anything is building it's distinct identity. For your home, we may label it "Casa Hermosa" - to note Spanish architecture or "Bella Terrazza" to note the large terrace. We are focused on the message and remembering the home - also, many buyers feel exclusive to buy a named house. Our team may even design and introduce logos throughout the house (towels, glasses, etc.). The brand identity needs to be subtle, but replicated, and be an intricate part of the marketing strategy.
Commissions are worth it - Yes, a great real estate agent will make you more than the 3% commission the brokerage charges. Developing bidding competition and negotiating with your best interest in mind (not just being transactional) works.
