5 Tips For Selling Luxury Real Estate in Los Angeles
You’re finally ready to sell your luxury LA property. But where do you start? Here are 5 tips for selling the best luxury real estate in Los Angeles.
The luxury real estate market is different than the common real estate market. On the seller’s end, it’s much more competitive. It’s a buyer’s market almost all the time.
Only 10% of all buyers will buy a home priced over $500,000. And only 8% of buyers even have an income over $200,000 per year.
So, how do you beat the numbers selling high-end real estate in Los Angeles? Let’s take a look.
1. Get An Agent Who Knows Everybody
When it comes to luxury real estate in Los Angeles, it’s all about who you know. And if your broker-dealer knows everybody worth knowing in LA, then you might get your property sold fast.
Hitting up the wrong customers wastes your time. And your time is valuable.
A savvy agent knows how to contact people you may not know how to contact. If you’re selling a private estate in a high-end neighborhood, certain high profile celebs might be in the market for your house.
Your people need to know how to get in contact with their people. And often with buyers like this, you have to go through several people to show your house to the main buyer.
2. Hire A Professional Photographer For Your Luxury Real Estate
Even in the most common of marketplaces, image is everything. 83% of all buyers rate great pictures as highly important in their choosing to even view a property.
If a buyer glances at listing’s photos and says “yuck,” there’s not going to be a showing.
This is even more important for luxury real estate in Los Angeles. You have a beautiful property to show off and you want the best of the best showing it off.
3. Think Globally
Globalization has been a great thing for the real estate market. You no longer are limited to the city. You’re only limited to planet Earth.
When it comes to luxury real estate in Los Angeles, international buyers are clambering to buy.
Why? Major business moguls don’t want to stay in hotels all the time. Having a beautiful property to retire to after an exhausting meeting in the valley is appealing.
And international investors are always looking for a place to land their money.
So, look for an agent with a global presence.
4. Use Your Creative Side
Los Angeles is an innovative and dynamic city. Luxury buyers are always looking for something new.
Parties and events will never go out of vogue. And a simple open house will not cut it.
Ask your broker if they have any ideas on how to attract potential buyers with high profile events on your property.
5. Know Your Timing
If you’ve bought and sold luxury real estate in Los Angeles before, then you know the drill.
Sell when the selling is hot and the weather is right. Find out out how much your house is worth.
Fortunately, we don’t get much rain in LA. But summer is still the best time to sell any property.
Conclusion:
If you follow these tips, you’re bound to have a buyer show up at your door soon than later.
When you’re ready to step up your real estate game, contact us. We know all the right people.
Author, Speaker and Broker at Powerhouse Real Estate.
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