Tips for selling your luxury property during the Pandemic

Tips for selling your luxury property during the Pandemic

In recent months, Covid-19 has spiraled the contemporary dynamics of the global real estate market in a recalcitrant oscillation. As luxury properties are a substantial investment, often worth millions of dollars, getting your sales process indubitably precise is pivotal in today’s unprecedented times.

Navigating one’s sales journey amidst these inordinately uncertain times, here are some of our top tips to successfully ink the deal this year on your opulent property.

An Opportune Scenario

Promising an acclamatory upward trend in areas of Europe and the United States, the present status quo has gleamed upon the Canadian real estate market as a shimmer of hope. Canadian housing prices are anticipated to augment by 4.6 percent in the third and fourth quarters. This might come as a surprise to many during a global outbreak, especially the incredulous. But a report by RE/MAX brokers and agents suggested that the cause-and-effect are the pre-pandemic pent up demand and low mortgage rates driving the contingency. Canadians are showing more interest in suburban and rural communities as work and life dynamics shift with an increscent surge in people working remotely from home. Since the buyer’s demand is still trending on an upward trajectory, it’s currently conducive to list one’s property since the direct competitor is disinclined in following suit.  As low inventory is suppressing any trend toward reduced prices, duly reconsider before accepting any offers which are below the value the property merits.

High-end Video and Photography  

First impressions are lasting impressions and what’s the first thing buyers see? Photos and Videos. But it’s crucial to bear in mind that not just any Video and Photography work will suffice. It needs to be of an emotive quality that connects and creates an inspiring aura. A palpable representation of the property’s spatiality, grandiose, and nostalgia it effuses. To derive this quintessential effect the right camera, lenses, lighting equipment, and other technical gear in the hands of experienced video and photography professionals are focal. High-end videos and photos bring out the persona of the property attracting potential buyers. Showcasing the high-end appliance installations like a La Cornue, Wolfe or Viking stove, a Thermador oven, Sub-Zero fridge, a Miele or Bosch dishwasher. Luxury buyers seek these brands in an upmarket listing and these can be further emphasized with the help of videos and photos.

Here is an exemplar’s of what high-quality videos look like:

 

Some samples of what high-quality photography looks like:

Digital platforms

Considering a real-time interactive digital open house at a scheduled time where an agent, seller, auction house representative can communicate with potential buyers via a live video service like Facebook Live, Zoom, Google Meets, YouTube Live and, Skype are feasible possibilities today. Virtual viewings using Matterport are a big addition in creating a life-like 3D walk-around of your property that we highly suggest to add-on to your blueprint. Online Auctions promise to be the next big thing in the new era of contactless purchase of luxury estates, bringing buyers and sellers of varied demographics and nature together to help seal the deal. It assures to be remedial on previously known shortcomings of luxury listings and empower the seller with the highest possible final hammer price. One has the alternative of assigning a minimum reserve price and other such methods that ensure the best security and value as a seller.

Read more about Lambert Premiere Auctions in the online auction space: https://www.remonline.com/vancouver-luxury-real-estate-auction-a-virtual-platform-for-luxury-west-coast-homes/

Besides the pandemic specific tips, here are some other general yet essential suggestions to help sellers:

Pricing Precision

Pricing the property accurately from Day 1 is the foremost step one needs to undertake to avoid any consternation in the future. Knowing how to examine a house, analyze its strengths and weaknesses, doing a comparison to analogous properties, appraising the surrounding market serves two-pronged benefits, which are to make a timely sale and at a coveted price point. These processes require experience induced skills that experts take years to master.

The Specialist

Selling regular real-estate compared to the luxury estate is a heterogeneous process. Both are priced differently, the dynamics are disparate, the strategy, valuation and buyer networks are all contrasted. Hence its of pivotal importance that the prerequisite assistance and platform to commence the perfect sale is also specialized. Consult peer network, search the internet or go by trusted and experience-based personal references when seeking these luxury house specialists. Irrespective of the source of recommendation, keep in mind to talk to them – see how they feel and let your instincts guide you. Besides, we highly recommended using our utilitarian attribute checklist below in quest of the perfect estate connoisseur-

  • Scrupulous know-how of local market and neighborhood
  • Pre-existing vetted bouquet of buyers
  • Precision in communication skills
  • Meticulous and detail-oriented
  • Look at their track record, lower days on the market is a strong indicator
  • Years of conducting business
  • Transparent process with a clearly specified timeframe
  • Posses an aura of ascendancy
  • Skilled problem solvers

Wish to know more about Lambert Premier Auctions Selling process? Kindly visit: https://lambertpremierauctions.com/selling/

Staging- Luxury Furnishings  and Interior Designs

Buyers can walk into a vacuous property vis-à-vis once it has been staged and would be able to discern the ineffectual aura the former creates. This discrepancy is owing to the fact that staging delineates the story of your house and sells imagination to the prospective buyer of the conceivable lifestyle they could have. If unintended of organizing in-person viewings due to the virus looming large, staging the luxury property would still be a vital process. Alternatively, virtual staging, works in much the same way, as it is the process of enhancing digital photos of a property by using graphics software (like that used for 3D movies) to digitally build furniture into an image. Like traditional staging, anything can be added, from expensive wall hangings, Persian rugs to pinewood beds and leather sofas. Buyers need to be enchanted with the property and staging is the way to mesmerize them. It might feel like an expensive sine qua non in today’s luxury market, but it also succors to sell nimbly and for a lofty price. The style and methodology of staging are subjective hence needs to be personalized to the property. But there is a golden thumb rule to be pursued- highlight the property assets and surroundings without overpowering it with excessive styling. Also, the wider the appeal gamut staging can provide to your property, the more number of potential buyers you could lure to seal the deal. To this effect, hiring a luxury staging and interior design firm to grip your properties reins in their crafty hands is consequential.