How do you search for an attorney or a specialist in their field? You ask friends and family for referrals, go online, look up reviews and testimonials, and research the attorney’s background before you finally make a call for an initial appointment. You’re about to forge a potentially long-term relationship and you want to be sure you can trust this professional with your family matters and finances. Why should you treat selecting a real estate agent, brokerage or auction company to sell your luxury home any differently?
When you start thinking about selling your luxury home through an agent or broker, do your research. Not all companies and agents are the same. Check their website for client testimonials, research not just the company but the individual founding members online. Be confident you are making the right decision before you sign any paperwork, as you will be entering into a working relationship that could span well over a year on the traditional market.
If you’re looking at auction companies that specialize in luxury property auctions, treat them the same way you would traditional real estate agents and brokers. Though your working relationship will most likely be shorter, you will potentially be working with them for a couple of months.
Here is what you should do when selecting a reputable real estate company, brokerage or auction company to sell your high-end home.
Research Beyond The Ratings
Reviews are a good place to start, but they are not enough to gauge if you will work well with a real estate agent or auction company over a long period of time. Use online reviews to start narrowing down your search before you begin in-depth research.
Start online. Most companies will have their own website with extensive information about their background, experience and area sales. You will want to look for the following things immediately: how they will sell your home if they have a marketing plan and if you can review a copy, their recent sale history, and their experience.
Set aside the time to call each company that impressed you. If they call you back quickly, that is a good indicator as to how they will handle future communication with you.
When you are interviewing them, be sure to ask them about their personal experience about selling in your area and their experience, as it may differ from their website. Be sure to ask them about how many properties they are currently managing. This will give you an idea of how much special care and attention they will be able to give your luxury home and how personalized the experience will be.
If you are pleased with the phone conversation, set up a time to meet. Ask them to provide a list of the homes they have listed as well as sold in the past few months. Treat the first meeting with them like a consultation visit, not a sales pitch. If you are not impressed with them in person, maybe they are not a good fit for you.
Look for the Truth
Ask them to discuss their process and marketing plan with you. Look for specific services above and beyond the Multiple Listing Service, such as a property information packet, classified ads, and Internet advertising. If they do not at least mention any of these items, they likely do not have a planned strategy.
Companies, such as Supreme Auctions, have a strategic marketing process that specializes in luxury real estate. Supreme Auctions’ Accelerated Marketing Program is customized for each client and their luxury property. Supreme Auctions also has a qualified buyer database, solid relationships with industry leaders that leverage their marketing efforts both nationally and internationally, and have knowledgeable staff who know how to maximize both print, social, and online exposure.
If you are satisfied with the company’s marketing strategy, ask them how they determine the true market value of your luxury home. Agents cannot guarantee a sales price, but they can give you an estimate of what they expect your home to sell for.
Some brokerages or auction companies will have prediction software. Supreme Auctions’ CEO Maverick Commins explained Supreme Auctions proprietary system has the capability of pre-predicting what your luxury home will sell for by using a service similar to that used by Auction houses such as Christie’s, Sotheby’s or Barrett-Jackson.
Real Estate Companies Are Not the Same
Not all companies and agents are equal. Roughly 10% of agents do 90% of the business, according to The Balance.
If you choose an agent with a large advertising budget, there is a greater probability of your high-end home selling faster, no matter if it is listed traditionally or through an auction. Agents with a smaller budget cannot give your luxury property as much exposure.
Different agents have different buyers too. Some companies market to investors overseas, others stick to particular demographics that they believe will be attracted to your home. Talk with your agent and be informed about who they are trying to market the home to. A reputable agent will know trends in your area and will be able to make your home more appealing to the right demographic.
Is the company available to answer your questions? Have a keen eye and observe how quickly they respond to you and with how much detail. Some companies are extremely busy and may not have the time to give each client one-on-one support.
When looking at selling your luxury real estate through an auction house, ask the same questions and find out how many properties they sell at one time. You do not want to get lost in a long list of properties for sale. Supreme Auctions only takes on a few auctions each month to ensure their clients receive the personalized attention and support they deserve to maximize their luxury property exposure to the market.
Do Their Values Align With Yours?
Experience matters, but being confident that you can work seamlessly with your chosen agent and the knowledge that you can trust them is invaluable. Choose an agent that you can relate to and whose values align with your own.
Look for agents and companies who are honest, transparent, who network, who communicate well and are available to you, and who genuinely care about getting your home sold for the right price.
The same can be said when you are looking into an auction company. Selling distinctive properties and unique homes requires a special understanding of the luxury market and having the resources to implement regional, national and international marketing campaigns is essential, but all of that means nothing if the company puts the almighty dollar ahead of the clients’ interests.
Supreme Auctions implements the aforementioned marketing strategy and has the knowledge of the luxury market and they put you, the seller first. They pride themselves on offering clear and concise information, transparency, integrity and forging a positive and lasting relationship with their clients.
There are an estimated 2 million active real estate license holders in the United States, so finding the right one for you and your luxury property can be a daunting task. Start online and narrow down your list through research and information online. Give them a call to learn more about their professional experience and personality before agreeing to meet with them.
Take your time finding the right luxury real estate auction company. You are about to enter into a working relationship, so be confident in your decision. Make sure their history is backed by testimonials, experience, integrity, and their personality and values align with yours.
If you are unsure where to start, look into a reputable and trusted auction company, like Supreme Auctions. Contact them today to learn more about how their Accelerated Marketing Program can increase the probability of selling your luxury home.