Selling residential luxury real estate can be a frustrating process if you don’t have the right approach. Knowing and understanding that the luxury home market is far different from the non-luxury real estate market is critical, yet this can be often overlooked. The field of potential buyers is not only much narrower; the details of the marketing and sales process are also far different.
When you are considering the means to sell multimillion-dollar homes in Arizona, forward-thinking realtors and homeowners alike are finding superior results when utilizing a luxury auction process as an effective approach. Although some associate real estate auctions with the steps of city hall, the luxury auction process we are talking about is first class and professional. This is a unique, accelerated luxury real estate process that has caught the attention of millionaires and billionaires across the globe interested in selling (and buying) luxury properties.
Let’s consider how most luxury real estate is being sold, and compare that to the luxury auction process.
Traditional Home Sales Tactics Fall Flat with Ultra-Affluent Buyers
Putting your house on the market with an MLS listing, photos and video walkthrough is great for homes under $1 – $2 million, but individuals looking to buy multi-million dollar luxury real estate are going to blow right past these channels. All too often luxury homes, especially those listed over $3-4 million, sit on the market for years, unable to draw the appropriate interest. And, as we are talking about such a specialty market, you have to look at ways to specifically get the interest and attention of people who have the desire and, most importantly, means to buy a multi-million dollar home, one that an MLS listing is not going to achieve by itself.
Developing a Strategic Luxury Real Estate Marketing Plan
One hurdle that can definitely foil any marketing plan is having an unrealistic asking price. If the price is not realistic, then all of the marketing in the world will not help. This leads to little or no interest, which in turn creates compounding holding costs that can reach into the hundreds of thousands of dollars as the home sits for years without activity or offers.
Once you have established the correct pricing based on the market, you need to craft a specialized and targeted luxury marketing plan that will catch the right eyes, the right interest, and generate the right buzz to have buyers take action.
You will need an experienced expert to ensure you understand the true value of your home in the current market. This expert should also be able to offer you a marketing program that will get qualified buyers to view your home in a short window of time. After all, you do want to sell your luxury home, not just list it.
Accelerated Marketing through Luxury Auctions
The specialty luxury auction real estate business has become more known as demand among luxury homeowners seeking a reliable and predictable way to sell their properties has grown. Luxury home auctions create a completely different selling experience that generates activity, interest and a qualified buyer list that is often lacking when selling multi-million dollar homes. The often private, on-site luxury home auction becomes an event unto itself among qualified buyers.
The process of a luxury real estate auction, delivers time-driven results in 45 days or less. As the seller, you set the timeframe, the auction creates a sense of urgency and maximizes the true market value of your home, and those expensive carrying costs are eliminated.
In Arizona and all over the world, luxury real estate auctions are producing results. Thousands of satisfied clients can attest to the effectiveness of selling their homes through this accelerated marketing method and for top dollar.
If you are a broker, agent or high-end home-owner, take some time to familiarize yourself with this luxury auction process. It may be the exact solution that fits your needs now or in the future.