A Sellers Guide on Selling High-End Real Estate

By: Jazzen Del Mundo

Just like they say with leaders, a salesman is born, not created. However, people often overlook the fact that selling is a combination of art and science, just like most all fields — especially if it is premium real estate.  Every salesman must be able to locate that junction between these two important pillars. For instance, charity events and art galleries will not sell without creativity and research. Through these things, a seller can adhere to a solid sales procedure but still have enough artistic license to deviate from the plan and keep the transaction afloat. Below is sales 101 in a nutshell:

Start Small

Understanding the targets is the first step in learning the skill of selling. This calls for entering a dialogue with customers with the greatest level of knowledge about them, for instance in selling a premium real estate property, a brand new car, or insurance. Try to intelligently and completely respond to any queries that your potential customers may have. Among the most important elements in developing connection and credibility with the right buyer are your capacity to achieve this goal. However, your knowledge must transcend your sole intention to sell and learn things about your industry overall. 

More Than the Advantages, Convey the Value of What You Sell.

At its foundation, sales are a question of credibility. It is the process of explaining importance and value to a potential listener. If you are talking in ambiguous words with a high-pitched tone and a small stammer, it is indeed difficult to accomplish that convincingly. All along your sales funnel, speak with assurance and conviction.

Do Not Stop There

Never let your sales abilities deteriorate. Constantly provide opportunities for development and flexibility. Additionally, you should always put your best effort into honing your new talents so that when you employ them, they will be polished and supported by a solid foundation of knowledge. Effective salespeople are comparable to physicians or detectives in that their first priority when they meet with a prospect is to figure out what should be done and are always exploring to learn more.

These tips are applicable to all industries with sales in the Philippines. In order to remain afloat in the world of business, you have to strategize a plan. Major industries like manufacturing, electronics, agribusiness, and luxury properties in the real estate market are just a few of the industries where selling skills are highlighted.

In high-end real estate companies, luxury clients always look for the edge in marketing strategies so there is a competitive market in the real estate industry. Here are some of the best ways to ace selling high-end real estate properties:

Open Your Ears and Eyes to Industry Trends

High-end clients are looking for a location to set foot in when they hunt for a home in premium real estate. Real estate agents need to be aware of the neighborhoods that appeal to their consumers if they want to learn how to break into the luxury real estate market. They should always be able to repeat facts about high-end homes, and country clubs, off the top of their head in the neighborhood, local coffee shops, stores, hospitalsschools, and golf courses, and utilize digital marketing on different internet platforms.

Premium Is Premium

High net-worth individuals do not even shop for properties in typical locations, so you should also not concentrate your advertising strategy there. Anticipate spending money on a distinctive collection of high-end printed marketing materials as well as on expert house staging and photography because it costs money to create money in real estate investing.

Real Estate Agents, Strategize Your Selling Advantage

Selling a luxury house requires a distinct approach to the real estate market. If a luxury real estate agent has a high-end home to sell, everything from pricing it to the way it should be advertised has to be maximized for luxury buyers. In essence, the further up in the price range you aim, the more attention must be taken to craft decisions that will cater to a specific group of buyers who have a lot of money to spend and demand greatly for the outcome they will receive.

In reality, high net-worth clients who are competent to buy luxurious property do not casually stroll into open houses or blindly leaf through real estate listings. Luxury realtors will need to use a wide range of cutting-edge tactics in real estate transactions to ensure that more high-end buyers are able to observe the residence and the detailed information its acquisition would empower their lives. The most suitable buyers for your luxury home or luxury condo may not even reside in your community or they may visit only depending on the season, especially in popular locations.

The strategy is expected to be built by a competent luxury agent. This campaign most likely has a distinct concept that connects to its unique characteristics. A distinctive collection of brochures, mailers, and personalized websites for luxury listings about their property should try to follow this pattern. In essence, the premium buyer should be the focus of the entire campaign.

High-End Real Estate Companies Should Strengthen Their Branding

Clients are not looking for anything typical in the area of luxury real estate. Affluent people prioritize luxury real estate companies that they can trust, which involves offering integrity, expertise, and open dialogue. Most importantly, the real estate brokerages brand is a culmination of the emotions and memories that clients identify.

premium real estate brand is the result of many factors coming collectively, particularly visual elements like the brand’s typography, colors, and logo which may not be the priority of an average real estate agent. The brokerage’s values, procedures, reputation, technology-driven listing process, and distinctive value proposition are additional key brand components.

The Price Should Always Be Right

Verify that any pricing projections are supported by statistics. In order to establish competitive or assertive pricing for a luxury home, a thorough comparative market analysis must be conducted. Luxury real estate agents should invest many hours sifting through the information, visiting other similar luxury homes that are presently on the market, contacting other luxury agents who have previously marketed high-end properties, or seeking wisdom from high-end specialists like Coldwell Banker Global Luxury, Sotheby’s International Realty, and Keller Williams Luxury International that are similar to your considerations.

In order to have an idea of how long properties in this price range typically require to market and which ones should be on the market longer, the pricing report should cover such information and figures like absorption rate in the local market in addition to the price range.

Competence Is the Key

Marketing a property is not the simplest of undertakings, but it can never be too challenging when selling a premium home with the correct mindset and relevant research. Selling a luxury home requires a higher level of competence due to its complexities, so it is crucial to be knowledgeable and skilled in selling these high-end real estate properties.

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