Luxury home purchasers will reduce stress by working with an agent who actively lists, sells and potentially owns a luxury home. Whether you are seeking a luxury condo for sale, a luxury vacation home or a primary dwelling, the luxury market is unique.
Luxury home specialists bring more to the home-finding experience for upscale market shoppers. It is frustrating to have a Realtor who is not in tune with the latest trends and amenities most sought by a luxury market shopper. A true specialist will be adept at understanding how luxury features impact value and will also have a firm grasp for evaluating the cost impact of features that are not present in new luxury homes or resale properties.
Finding a professional with the expertise you seek to sell your home can be daunting in many environments, but the luxury market differs. The first step is to determine who represents most of the luxury listings in the community where you intend to purchase. The second step is to arrange an interview with the two most visible luxury home marketers. Request a list of the homes that the agent has both listed in the past 12 months and all of the homes he or she has sold in that same time period. If the listings out-price the sales by a large margin, it is a red-flag that while the agent lists higher priced properties, their buyer pool might not include candidates for your home.
Luxury homes require an aggressive and frequently higher-priced marketing plan than those of lesser value. Ask the real estate agents you interview for a written marketing plan than takes into account the average days on the market for your targeted price range and volume of currently listed properties within your demographic area. It is important to have a marketing plan that is designed to get your home sold.
Finally, whether purchasing or selling a luxury home, be certain to include a provision that allows you to cancel your listing or buyer broker agreement in the event the agent fails to deliver the service as outlined in their marketing or representation agreement.