When Selecting an Agent

There are several important considerations to be made before signing the listing agreement. So, whether you are a buyer or a seller, making the decision to hire the right luxury broker is the most critical step in the process. A luxury broker must always bring their “A” game especially when dealing with the high-end clients, because these people are very smart, business-savvy and have lots of options.

Choosing the best broker to represent the sale of your property can be found in the checklist below:

• Share everything with your clients. Positive and negative feedback is equally important to communicate. Both should be delivered to sellers as swiftly as it is received.
• Incorporate ‘old school’ advertising with the newest apps to reach qualified buyers. Globalization and social media have changed the playing field. However, as we still operate in a ‘brick and mortar’ world, a brochure and business card still carry credibility.
• Follow the trend in worldwide economies to keep a pulse on where international buyers are coming from. However, the tides have turned and Asia-Pacific buyers seem to have risen to the top of the heap. Buyers can come from around the corner and across the globe. Be prepared.
• Tap into the network of professionals in their sphere including past clients, attorneys, developers and even other luxury brokers to market the property. Take nothing for granted. Experience is an important tool to use as leverage but so are industry credentials. Choosing a luxury broker with a CLHMS (Certified Luxury Home Marketing Specialist) are not mere pieces of paper. These are well-earned designations from recognized industry organizations requiring classroom training and proof of sales transactions in the top end of the luxury real estate marketplace.

Selecting the right agent makes all the difference.

• The real estate market is highly competitive
• 10 percent of real estate agents account for 90 percent of houses sold
• A proactive marketing approach can overcome the competition
• You need an expert to achieve the best possible outcome
• The Luxury real estate market niche requires an experienced and highly specialized broker

Promises of high prices are not always in your best interest

• Overpricing to get the listing is an old-school real estate scheme
• You deserve a written, well-researched market analysis
• Accurate pricing depends upon a true reflection of current market conditions
• Price reductions 30 days later will negatively impact your market position

The success rate for a private party sale is traditionally low

• Only 7% of qualified buyers come from yard signs
• Only 5% of qualified buyers come from newspaper ads
• Professional agents generate the most qualified buyers
• Nearly 70% of all FSBO’s eventually contact a real estate agent

Can discount brokers really get the job done?

• There are generally more homes on the market than buyers
• Proactive marketing is an expensive undertaking
• Marketing & advertising are discretionary costs eliminated for a lesser commission

An approach that gets results

• The Maximum Exposure Luxury Marketing Program brings fresh ideas to the market
• A specialized approach to your individual needs
• Negotiating strategy that is proactive rather than reactive
• Building a business one satisfied customer at a time
• Integrity that transcends personal and business life

Establishing the Proper Price

For an up to the minute report on homes that have sold in your neighborhood, sign up for our free Market Snapshot. (link to Market Snapshot)

Statements from sellers that really have nothing to do with a home’s value

• Another agent said it was worth more
• People always offer less than asking price
• The buyers can always make an offer

Other factors that do not affect a home’s value

• The original purchase price
• Over improvement (enjoyment)
• The cost to rebuild in the current market
• Personal attachment to the property
• The owners need for equity

Dangers of overpricing your home

• Discourages qualified buyers
• Better positions competitive homes
• Reduces advertising response
• Impacts appraisal valuations
• Creates doubt & uncertainty
• Attracts owner financing & bargain hunters
• Results in your home becoming stale on the market

A proactive pricing strategy

• Overall objective is to sell your home
• The market is the common adversary (Supply & Demand)
• Past sales are not always indicative of current performance
• Proper pricing should yield one offer for every 10 showings*
• We must integrate pricing with a balanced marketing plan
• Factors affecting the sale: Location, Condition, Price, Terms, Realtor

Some thoughts on the condition that affect price

• Think like a buyer
• Start making a list
• Complete repairs before putting your home on the market