Successfully selling luxury homes in California is no easy feat. After all, there are limited numbers of available properties and endless numbers of agents all vying for the same customer base.
That said, breaking into luxury real estate in California is doable with a little bit of hard work, perseverance, and knowledge.
That’s why today we are sharing tips for selling coveted pieces of property in high-end neighborhoods so you can build yourself a successful career.
1. Make Sure You Are Qualified
When we say “qualified”, we mean actually, legally allowed to sell real estate in California. Every state has its own set of regulations for becoming certified as a real estate agent, and California is no different.
Start by completing your 135 hours of pre-licensing education, applying for your California real estate license and background check, and taking the actual exam to become an official real estate agent.
2. Know How to Price Right
Selling luxury homes is all about the commission right? Well, as right as you may think that is, one of the biggest mistakes people make when entering the luxury real estate niche is pricing already expensive homes for far too much.
You must learn to price luxury properties competitively, without irking your seller (after all, they want to receive the most money as well).
However, if you continually price high-end properties at market rates, you will soon find yourself looking for another job.
3. Market Appropriately
Advertising your seller’s property is one of the best ways to target the right buyer pool. Do not waste time with people that cannot afford luxury housing.
Here are some great tips:
- Involve yourself with print ads and direct mailing
- Utilize the power of the internet
- Have your own website or blog to entice buyers
- Take advantage of the power and reach of social media
In addition, how you market your listings makes a huge difference in the amount and quality of interest your listings draw in.
For instance, only use high-quality images of the property for sale. In addition, consider providing a 3D virtual tour so people can really have a good idea what the property is like, before even seeing it.
4. Time it Right
In order for a high-end property to sell, you must consider the timing, despite what your seller wants to do.
For example, a beachfront property is far more likely to sell for an impressive price when sold right before the hot summer months.
After all, people will be in the market for such a coveted piece of property and you will be able to showcase its value much better during its prime season.
5. Have an Open House
You see it all the time on Million Dollar Listing – over the top open houses to draw in agents looking to share exceptional properties with their buyers. And the reason for this is, it works.
Keep in mind however, that public open houses are unwise. This has the potential to draw in the wrong kind of people with no intentions of buying.
Make your open houses invite only. That way you have the right group of people checking it out.
In the end, selling people luxury homes in California is all about convincing people they need to buy into the fancy lifestyle that comes with high-end living
So, get your real estate license, take the time to learn the luxury real estate industry, and work your tail off – because in the end, when you land your first sale, it will all be worth it.