Trade Secrets: The Ins and Outs of Selling Luxury Real Estate

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When most realtors start out in the industry, they sell homes that barely break into the triple digits. If they work hard enough though, they eventually reach a point where people reach out to them. Most of the time, they end up selling luxury real estate to people who request them, specifically.

Selling luxury real estate is a lot like selling regular real estate, except there’s a lot more work to it. When selling a home, clients are already invested in buying a home. They already have an idea of what they want and rely on you to turn their fantasies for the future into a reality.

Luxury real estate follows the same formula, except people rarely know what they want out of it. Not only is it your job to turn fantasy into reality, but also to create a vision for what people would want out of their house. For some people, that’s the easy part.

Others find it hard to convince people that a house will fulfill dreams they don’t even realize they have. They need help successfully selling luxury houses. For tips on how to do it, keep reading below!

Selling Luxury Real Estate is About Selling Ideas

The first part about selling luxury real estate is to step away from the house and think about what the house represents. For most people, a house is a home that provides shelter and security. It’s where they can settle down and raise a family so that they can build a future for their children.

For people who buy luxury real estate, a house represents something else. It may represent profit, where they can store money and let it grow over time. Other people may be more concerned about the location, and reach out to local realtors like Bruce Champion Real Estate in areas they want to live.

Before you can sell a house, you need to sell your client an idea of what the house represents. Once you have that in place, it’s easier to close a deal.

Show People What Their Lives Could be Like

The best way to sell ideas is to show people illustrations of it. You can use new technologies like virtual reality or 3D modeling to give people something tangible to envision their futures with. You can guide them as they discover what they want out of their new house.

That means you can guide them towards buying your real estate.

Price Matters Less in Luxury than Regular Real Estate

The best part about selling luxury real estate is that price is less of a decisive factor. Most of the time, people who are looking to buy luxury real estate have a lot of flexibility when it comes to their budgets. That means you can show them almost anything, and you may make a sale. 

Without the limitations of a strict budget, you have a lot more scope in finding something that they’ll love.

Real Estate is the Same, Whether it’s Luxurious or Not

Whether it’s a cliffside, modern suite or an average suburban home, real estate is real estate. Selling luxury real estate is not so different from selling regular real estate. It’s still about assuring people that they’re making the right purchase and validating their vision for their futures.

There’s just more work to it when it comes to pitching them their dream. To help you with trying to close a deal on luxury real estate, we’re here. Keep reading our website for more advice and tips on how to sell real estate better.