Standing Out in a Competitive Market: Strategies for Selling Ultra-Luxury Homes

 

The ultra-luxury housing market is in constant motion. High-end homeowners regularly buy new properties or sell a property they no longer need. Locations and lifestyles change, and buyers of this caliber are often seeking something new. If you are the proud owner of an ultra-luxury home, one of the greatest challenges is standing out in this highly competitive market. While each luxury home may be unique, you also appeal to buyers who have seen it all. Infinity pools and gourmet kitchens are par for the course. How can you stand out?

This is why most luxury homeowners turn to real estate experts. Let's dive into some of the most effective selling strategies for luxury homes to help you catch the eyes of high-end buyers in a competitive luxury market.

Every ultra-luxury home is unique. Unlike cookie-cutter suburbs, each illustrious owner usually custom-built and attentively remodeled these properties. Ultra-luxury homes are often built on unique and beautiful pieces of land with rooms and styles that represent the personal interests of owners that came before. Some have basement speakeasies, and some have vast and delightful game rooms. Some have secret doors and sliding cabinets, while others have breathtakingly manicured gardens.

What makes your ultra-luxury property special and different from other luxury homes? Identify these key differences and look for ways to spotlight them through photography, descriptions, and unique staging choices.

Homes in the ultra-luxury tier often come with a history. Whether you're selling a historic estate or a recent modern masterpiece of concrete and glass, the property has a story. This history begins with the first homeowner's vision and the architect they hired. The story continues with each new homeowner, as anyone buying in this tier will likely be someone important and interesting.

You might share the history of the first owner who had the house built for their family. Mention the second owner who put in the massive fireplace, the third who planted the heirloom rose bushes, and so on. Buyers love a good story, and every luxury home has one.

Architecture can play a vital role in your selling strategies for luxury homes. Do a little research to discover the architect who built your home and any designers who took part in remodeling. Ultra-luxury homes sometimes win architectural awards or are recognized in architectural publications. Your architect may be famous or recognized in prestigious circles or have designed other well-known buildings and homes.

Learn where the finest features of the home came from, whether they were dreamed up by previous owners or were the inspiration of a previous architect. Include this architectural pedigree in the story of the home, adding to its prestige and increasing the level of interest for your luxury buyers.

Ultra-luxury properties are often the most profitable when it comes to renovations. Of course, you will want to choose wisely; refurbish with the aim of updating antiquated elements, enhancing the overall quality of life in the home, introducing a sense of luxury, all while safeguarding its most prominent historic attributes. For example, you may want to restore a crumbling fireplace and chimney instead of replacing it to keep the charm and history of the property intact.

Work with a skilled luxury real estate agent to explore ideal ways to increase your luxury home's appeal and value through renovations. Upgrade appliances and insulation while preserving the facets that have made the property iconic and well-known to those in the right circles.

Once the home is renovated and prepared to sell, staging can play a salient role. Staging is the art of arranging furniture and decor to highlight a home's prime elements. In the luxury market, your goal is not just to make the house look elegant — all luxury homes are elegant. Instead, you want to show off a uniquely desirable lifestyle through your staging choices.

You can center your attention on the distinctive rooms and their special features, using them as a source of inspiration for creating more generalized spaces.  For example, if the home has a wonderful game room and a basement bar, continue the gaming theme throughout the home to better appeal to luxury buyers seeking a life of play and relaxation in their next ultra-luxury estate purchase.

How do you make an ultra-luxury home stand out in the marketplace? Eye-catching visuals are a must. There are three ways to provide immersive tours for buyers in the online research phase of house-hunting: photo tours, 360 tours, and video tours.

A photo gallery tour requires a professional photographer and proper asset curation. First, your photographer will walk through the home in its best light, from the front garden to the furthest corners. They will photograph each room in an immersive way that really gives the viewer a sense that they have explored the space.

Remember to number each photograph and label them with the name of each room so viewers can understand what they are seeing while viewing a vast estate.

360 virtual tours are at the peak of real estate trends, providing an immersive walk-through experience that viewers can explore for themselves. This is accomplished by placing a 360-degree camera at various steps throughout the house. The final result is a virtual tour where viewers can "step" from room to room and actually look around by click-dragging their mouse. This allows them to personally explore the floor plan and look at details that a single-frame camera shot cannot show.

Buyers love virtual tours because they are vivid, self-directed, and give a better sense of the property than a photo gallery. They can also take the tour as many times as they please.

A video tour is a smooth, eye-catching video that glides through the most beautiful shots of the home in a guided tour. Once taken by hand or with a camera dolly, you can request a fly-through tour shot by an expertly directed camera drone for a truly delightful visual experience of the home. Fly-through video tours are often used to headline marketing assets.

In the luxury housing market, buyers often want to walk through the home personally and are influenced by the quality of this experience. This is why your real estate team may suggest that you host an open-house event and entertain potential buyers on private tours. Remember to treat these events as social occasions through which you can connect with ultra-luxury homebuyers and show them the beautiful potential of your house on the market.

Lay out a few light refreshments like neat canapes and iced lemonade, then tell the story of the home as you walk guests through the space and introduce the most unique aspects of your property. 

If you have an ultra-luxury home in Arizona, you can rely on The Owens Collective to guide you through a delightful and enlightening selling process. Well-versed in the selling strategies for luxury homes, Kevin Owens and his team will ensure that you and your luxury buyers are fully satisfied with the experience.