Luxury Property News

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Why Strategic Marketing of Your Luxury Home Matters

The key factor in getting your luxury home sold quickly at a good price is drawing attention to your property through a customized marketing strategy. How you decide to market your high-end property is the key factor as to how long your can expect it to be for sale. Supreme Auctions offers an Accelerated Marketing Program that is strategic and proven to get your home sold quickly and at or above its market value.

Not every home is marketed the same way; some companies just list homes on their local networks online and others share the home within their preexisting buyer pool. Finding the right marketing plan for your property is not that cut and dry — a luxury real estate auction firm with a proven strategic marketing program, such as Supreme Auctions, will create a plan that is unique to your high-end home, therefore increasing the probability of finding the correct pool of qualified and motivated buyers.

The first place that the majority of buyers look to when searching for their new luxury home is the internet. The National Association of Realtors found that over 80% of buyers start their house hunting journey online. However, buyers in the traditional market are in no rush to make an offer when they see an online listing as they know to expect a price reduction or they will simply forget they ever saw your home at all.

Being placed among multiple online listings in traditional real estate simply isn’t enough anymore to make your home stand out. There are processes that a reputable luxury real estate auction company will conduct to put a spotlight on your high-end home and have it stand out from the multitude of other homes for sale.

An experienced luxury real estate auction firm will be knowledgeable in all aspects of marketing that creates maximum exposure for your luxury home.

They will also have a deadline (the auction date) on the sale, which creates urgency for buyers to take action. Savvy buyers will know to conduct their due diligence and learn everything they can about your property because once it goes on the market via auction, it will be sold within 30 days.

A Well Marketed Home Sells Faster

You only have one chance to make a good impression on a buyer. Luxury homes with polished furnishings, well composed photographs and that appear first in the search engines are more likely to garner attention than a vacant home buried among multiple other similar listings online.

The traditional market is not doing you any favors in this regard. In 2018, SkyAD reported that high-end homes spent an average of 506 days on the market and 23% of the total luxury market spent more than 730 days waiting to be sold. Some properties in Florida were even on the market for 1,109 days. After a buyer does express interest, closing can take up to 50 days, on average.

A reputable luxury property auction company like Supreme Auctions takes the time to preview, and help you prepare your home so that it stands out to qualified buyers. They also know how to utilize the best marketing practices to make sure your property is seen by the right pool of buyers and their Accelerated Marketing Program creates an urgency, which results in faster sales and closing times. Using their proven marketing program, Supreme Auctions can sell your luxury property in 30 days.

Lingering Homes Sell For Less

Supreme Auctions found that most listings begin to lose momentum after the 30 day mark. This greatly increases the risk of your luxury property lingering on the market for months or years with little to no buyer activity, often leading to price reductions to restimulate interest. Nationwide, 12.9% of sellers reduce the price of their house at least once when selling on the traditional market, according to Zillow.

In the luxury market, homes sold, on average, for 78% of their asking price in 2018.

The traditional market not only runs you the risk of a lower selling price, but staying on the market for too long can cost you hundreds of thousands in holding costs. A $3 million luxury home can cost the seller at least $200,000 per year in carrying costs.

Avoid lingering on the market by pricing a home correctly and utilizing the accelerated marketing program of Supreme Auctions.

Choose A Luxury Real Estate Auction First

A luxury real estate auction should not be considered as a last resort for homeowners. Rather than see their luxury property languishing on the market, savvy homeowners are utilizing Supreme Auctions’ Accelerated Marketing Program first in order to set their properties apart from the crowd and get their homes sold in 30-45 days, on average, at or above market value.

Supreme Auctions is a reputable and experienced company with a successful history in selling homes that had no luck in the traditional market. Some of those listings are found below and all of them can be viewed on their website.

Jettlands Manor

Previously on the market for 4 years, the Jettlands Manor had the highest recorded sale in the Sandy Springs neighborhood of Atlanta, Georgia in the past 12 months after Supreme Auctions utilized their Accelerated Marketing Program. Prior to the home selling pre-auction, it had 206 inquiries and was shown 130 times.

Pickney Manor

Pickney Manor in Brentwood, Tennessee received little to no buyer activity in the 2.5 years that the property was on the market. Supreme Auctions partnered with the listing agent, and their efforts resulted in 270 viewings and 160 inquiries. The property sold in 60 days for $3.15 million.

Clarksbridge Equestrian Estate

The Clarksbridge Equestrian Estate in Gainesville, Georgia was on the market for 5 years. The seller and listing agent partnered with Supreme Auctions and the home was sold pre-auction 29 days later after receiving 61 inquiries and 52 viewings. The $3.2 million sale marked the highest sale in the greater Gainesville area since 2007.

Conclusion

The key factor that will increase your chances of your high-end home selling quicker at a fair market value is marketing. A well marketed home is one that has a customized strategy to attract the right pool of qualified buyers without your listing getting lost online.

A strong and strategic marketing campaign can save you time and money by getting it right from the beginning by listing your luxury estate for the right price. Combine that with an onsite luxury real estate auction by partnering with Supreme Auctions and you will create a sense of urgency in buyers resulting in a winning combination. Supreme Auctions will work to keep you informed throughout the entire process so everyone can make confident decisions on the auction day.

Choose a reputable luxury real estate auction company that offers an established and proven accelerated marketing program, such as Supreme Auctions. Don’t wait for your luxury property to be listed for hundreds of days, contact Supreme Auctions today to see if you qualify.