Selling your home in the South Bay? As experts in the area’s luxury real estate market, the Stephen Haw Group can help you close the best possible sale and guide you through every step of the process. To help start you off, check out this comprehensive home selling guide.
Making the decision to sell
How do you know you’re ready to sell your home? Here are some important pointers to consider:
- Reason for selling
Your reason for selling will guide negotiations with buyers and choosing your next home. Are you moving because of a job transfer? Are you an empty nester looking for a smaller space? Are you cashing in on an investment? All this will be factored in timing the sale, reviewing offers, and deciding which offer to accept.
- Financial standing
Selling is profitable only if you have positive equity. Otherwise, it will be a short sale and you lose the chance to make a profit.
- Market conditions
Luxury real estate is generally less susceptible to market conditions than standard properties. In fact, trends in this sector are considered a precursor of things to come in other markets.
However, it pays to be aware of economic factors that may affect home sales in your area. For example, if the stock market dips too low, luxury home investors might also hold back on making large purchases. Global economy can also affect the market’s performance, since many luxury property buyers are international.
Finding the right real estate agent
Whether it’s your first time to sell a home or you’ve done it before, it’s important to work with an experienced agent you can trust. A Realtor will help you navigate the market and get the highest profit for your property.
The qualities to look for in a real estate agent include:
- In-depth local area knowledge
- Up-to-date real estate market and industry expertise
- Expertise in luxury/waterfront property transactions
- Strong negotiation strategies and skills
- A wide and reliable professional network
- Transparency and integrity
- Passion and determination to achieve results
- Accessibility and responsiveness
Pricing your home correctly
Setting the right price for your property is crucial in any market. It’s important to price your home correctly right from the start when buyers’ interest is at its highest.
Pricing a luxury home is tricky because no two properties are ever alike. Each home offers a unique experience that’s hard to put a value on. This makes the expertise of a real estate professional crucial. A Realtor who specializes in luxury properties and is knowledgeable on house prices in California will leverage their expertise and experience in helping you set the correct price for your home.
Getting your home ready to sell
- Stage your home
The need for home staging is even more pronounced for luxury homes than any other property type. Features that make the home luxurious should be emphasized, along with unique and significant details that make it stand out from the rest.
- Do the necessary repairs and improvements
Discriminating home buyers will want nothing less than top-of-the-line finishes and utmost comfort and convenience. Consider investing in home improvements that will make your property more attractive to high-end buyers, such as:
- Smart home systems
- Energy-efficient appliances and gadgets
- In-home entertainment and fitness centers
- Open floor plans
- Outdoor living areas
- Enhance your curb appeal
Create a great first impression and make sure your property is as appealing on the outside as on the inside. If needed, invest in landscaping improvements and in sprucing up your home’s exterior.
Marketing your property
Your Realtor will devise a marketing plan especially targeted to high-end home buyers. This entails highlighting not only your property’s most desirable and unique features but the lifestyle in your area, as well.
Essential marketing tools and techniques in selling your home include:
- High quality photos and videos that will make your property stand out over other California real estate listings
- Excellent descriptions with accurate and complete information
- A strong online presence by listing on national and international real estate portals, exclusive luxury home websites, and social media
- Advertising on relevant publications
- Property announcements, brochures, mailers, and similar materials
If you want to keep the sale of your home under wraps, let your Realtor know so they can devise a selling strategy around this. They’ll help you connect with the right buyers through their widespread network and personal contacts.
Patience is key in selling a luxury property. Unlike in standard homes, there are fewer buyers in the luxury market, so it often takes longer to sell a property. This is also an important factor to consider in reviewing offers – do not jump at the first decent offer that comes along unless you’re truly satisfied with it.
Review every offer with your Realtor, and consider not only the bid price but contingencies and sweeteners, as well. An important factor to consider is how the buyer plans to pay for the purchase. Cash buyers are generally the most desirable, but if the buyer plans to take out a mortgage for the home, make sure they have pre-approval to ensure a lender has found their finances to be sound.
For more tips on selling real estate in LA’s Palos Verdes Peninsula communities, read these useful blogs and updates:
- California’s High Housing Costs: Causes and Consequences
- Tips on How to Sell Your Home Fast in California
Sell your home successfully with Stephen Haw
Close the best possible sale with Palos Verdes Peninsula’s most trusted luxury real estate specialist, Stephen Haw. Contact Stephen and his team of skilled professionals at 310-503-9886 or email skh8828(at)gmail(dotted)com today.