The California luxury home real estate market continues to expand as more investors and homebuyers are drawn into the
state.
As a luxury home seller, preparing for potential challenges you may face in the market can help you navigate the
selling process and come out with a satisfying profit.
Blending in with the competition
With so many beautiful luxury properties available, the market is fierce in California. This is why it’s essential to
market your home effectively and highlight unique features to stand out from the crowd.
For example, you may have an updated sunken lounge living room. This retro style brought up to date is a great piece
for those who enjoy socializing and spending time with loved ones. Highlighting this unique feature is a great way
to stay in the memories of potential homebuyers.
Working with your real estate agent, you can create targeted social media ads, email campaigns and more to highlight
the uniqueness of your home.
Not pricing your home to sell quickly
A common challenge for luxury homeowners is not pricing their homes at a point to sell efficiently. This is why it’s
crucial for you to work with a real estate agent specializing in luxury properties, so they can research similar
properties within the area to help you price accordingly.
This gives you a better idea of what the current market is like which can guide you in setting your home slightly
below market value to attract potential buyers fast.
Price negotiations
Many home sellers are met with purchase offers below asking price when working with potential homebuyers. Due to the
stressful nature of home selling and the personal value the property may have, it can be easy to become frustrated
which leads to not responding to these offers at all.
However, many homebuyers making low offers use the tactic to see how flexible a home seller is with the price of a
property and are willing to offer more if prompted.
This is why it’s essential to keep your cool as a seller and collaborate with your real estate agent to negotiate
successfully. With a bit of patience and research, you can have a successful luxury home selling experience.