Marketing and Selling a High End Home
(Part 1 of 3)
I have been quite busy lately selling real estate and have not had the time to post any writings. This past month alone, I closed (settled) 3 homes and put 4 more under contract...pretty good for a "bad market".
I wanted to touch base on a subject that I feel gets neglected, "Luxury" or "High End Homes". I'm going to write three different articles about this subject over the course of this month. I will write about what I see and know and I do hope this helps the sellers properly pick their Realtor® and get their house ready for Sale. Please also note I will only write in regards to my market area which is Camden County, Gloucester County and Burlington County NJ. By the way, some of this will be my opinion, some information will come from the best information I can compile from the web, and from experience, please consider this while reading.
"High End" or "Luxury Homes" begin at a price of approximately $500,000 (this is a generalization depending on the area) and from there the sky is the limit. These homes do tend to take more time to sell then other homes of lesser value, however there is a greater need to market this home properly and target to the correct audience then a home that is not priced this high.
A high end listing tends to take more attention to detail and market. I will touch on this area for this week's writing. PLEASE don't settle for just putting your listing on the MLS.
Photography
By all means, this is one of the MOST important things if not the most important and influential things a Realtor® can do to entice a qualified, perspective buyer to view your high end listing. I am so puzzled when I see a beautiful luxury home photographed with a pocket digital camera. My firs t thought is "how can the homeowner allow that".
Your audience, wealthy people, lawyers, doctors, entrepreneurs etc. are just too busy to go out and physically view every home their Realtor sends them, your home will have to "pique" the interest of that buyer so be CERTAIN your Realtor® hires a professional photographer or takes the time to photograph the best points of the house. Angles, lighting, exposure, and views are all important facts to consider while photographing the home. Take this example, when a prospective client's Realtor® sends listings to look at, your home will be one a many, and wouldn't you want your home to "POP OFF" the page. I call it the "WOW" factor.
I am a FULL TIME Realtor® and a hobbyist or amateur photographer owning thousands of dollars of equipment that I purchased specifically for real estate. It is my hobby and my clients benefit from it! No matter what home I photograph, I use all of my equipment to make the house "POP". I have many Realtors calling me asking "how I get that effect". It just takes time, money and there is a learning curve. Here is an example of a photograph that is not so high end but I am purposely putting on this "high end" blog...Notice the colors.
Generally, it takes me at minimum 1 hour to shoot a 1500 sq. ft home. A home that is 3,000 to 5,000 sq ft and up, can take me upwards to 3 hours to shoot. I consider time of day, lighting, special views etc. when I shoot. I'll ask you if there is a "perfect time of day" that your house really shines. That's when ill shoot it!
When Mercedes Benz markets their cars they do it in such a way that the prospective buyer feels the car is really worth it. PERCEPTION AND PERCEIVED VALUE IS KEY to marketing your high end home.
In regards to myself, I don't charge anything extra to photograph and market your home and you are paying the commission when your home sells (and only when it sells). I feel that photography is so important that it can make or break a listing, so please take photography seriously. It can change EVERYTHING in regards to selling your high end home. Don't sell yourself short.
Please feel free to comment on this post.
Check back for Part 2 "Using Video & Virtual Tours".
About me- I am a full time Realtor in Southern New Jersey servicing all of Camden County, Gloucester County and Burlington County NJ. Photography is a hobby of mine, Real Estate is my living.
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