Securing The Sale Of Your Luxury Real Estate In South Florida During Covid – Final
Luxury homes in South Florida have an understated challenge that they must meet. These property types in South Florida generally do not have a broad buyer base as is the case with mid-priced homes nationwide. Because this market is somewhat specialized, it puts the seller in a unique position when marketing their home in the exclusive South Florida Luxury Homebuyers market.
Strategize For Successful Sales
To be frank, selling a South Florida Luxury Home can be a lengthy process during the pandemic. The nature of the locations, communities, and amenities involved bode well for the seller during a normal market, however, with COVID controlling nearly every aspect of the American way of life, it’s no wonder that is also affecting Luxury Real Estate sales. So what is extending closing timelines here in South Florida? It’s a buyers market.
South Florida has been and remains one of the hottest selling markets, not only in the states but for those living abroad as well. South Florida has reaped the rewards of its location, and often, the property will sell itself. The affluent nature of the available buyers in contrast to the number of available properties favors the buyer. Essentially, it is a buyers market. Financially speaking, the buyer of a luxury home has more options in the luxury market, especially during this pandemic. It’s important to have an experienced South Florida Luxury Home Attorney to assist in the process of selling your home as he or she will be better suited to guide you through the process.
Listing Elements That May Support A Speedy Sale
Understand Your Market:
A luxury home is said to stay on the market almost twice as long as the overall housing market nationally. Quite often a seller will even begin dropping their price to close-out the year. Before you begin undervaluing your own luxury home via reducing its price as the housing market does, make it a point to address the sales listing for all areas of improvement.
We may be dealing with COVID but that has not stopped home-buyers from shopping in the luxury market in South Florida. You need to develop the best strategy to move your property, despite the pandemic, with the understanding that you will have competition and that you need to move up the ranks to centrally locate your property at the best vantage point possible for the home buyers needs.
Most buyers already know what they are looking for as well as the value that they are willing to invest into that dream home. The more details you provide, the more value you add to your listing and the possibility that the buyer will view the home. Viewing the home online is only half of the journey, getting a buyer into the front door is the ultimate objective.
Craft Your Story:
Engage the buyer by cultivating a listing that tells the unique story of the luxury home. In all likelihood you will be working with a realtor, if not, your Luxury Real Estate Attorney will be able to assist you in obtaining a quality luxury real estate agent to improve your ability to sell the home. Regardless, it is vital that your listing is crafted with professional images of the home.
The Images Are The Initial Selling Point
We all understand the nature of the phrase “first impressions”. With that in mind, you will need to focus a healthy part of your sales arsenal into real estate photography. Many realtors capture images with their cell phones and depending on the brand and model, that may work out great, however, to be clear—the images are absolutely key. Should you need to invest in a professional real estate photographer in order to capture the images, be sure to get that done early on. We do not DIY our luxury home listings when we’re looking to sell at record speed. It is common knowledge that the higher the quality of your images are, the more likely you are to sell the property more expediently.
Background and Exclusive Details About The Luxury Home
Be sure to include and amplify any security systems, high-end appliances, finishes, or moldings. When we say detailed, we mean down the most minimal of details. A luxury home comes equipped with a pool, sauna, a gym, etc. It is important to outline all of the amenities that help make the home a landslide buy among the competition. In addition, if do not already have in-depth information about the community or surrounding areas, it is time to do your due diligence. It is vital to share unique details about the community. Is the community gated or private? Who is the architect of the property and neighboring landmarks, homes and more.
Communication Is Key:
As you well know, a luxury homebuyer is investing in a piece of property that most buyers (less than 15%) are able to attain. With that said, they require a certain brand of concierge service. When a luxury buyer reaches out to you, the sooner that you are able to communicate with them, the better. This means that any phone calls or emails addressing the desire to see the home or learn more about it must be handled at your earliest convenience and with care. Think V.I.P. service. Your communication must be responsive and it must be clear. It is often best to delegate these matters to an experienced South Florida Luxury Real Estate Attorney who deals with affluent purchase and sales regularly and is able to provide both you and your future buyers white-glove real estate legal services.
You can sell your luxury home during the pandemic but it will require a bit of footwork. If you are in the market to sell your luxury real estate home and need superior legal guidance, contact Mark Schecter to learn more about how he can assist you.