The Challenge Of Selling Louisville Luxury Homes

Louisville Luxury Homes

louisville-luxury-homesLouisville luxury homes often feature lushly landscaped grounds, an indoor swimming pool, five bathrooms and a personal wine cellar. It also features a price tag north of $1 million. That makes it a challenge to sell.

Not matter how spectacular your high-end home is, there is a limited market for it. Simply put, there are only so many potential buyers who can afford to spend a million dollars or more on a home.

That’s why it can be so challenging to sell a luxury home. And it’s why you need to find the right real estate agent to help you accomplish this task.

Finding The Right Agent

If you’re trying to move a luxury home, you need to work with an agent and Brokerage who specializes in selling such properties.

Unfortunately, there are plenty of agents who are attracted to the large commissions that come with selling high-end real estate. Your job is to weed through the imposters, and find those agents who have actually succeeded in this challenging market.

When interviewing potential agents, ask the important questions: How many high-end homes have they sold during their careers? How many have they sold since the residential real estate market crashed?  Is their company well positioned to handle high end sales?

And, even more importantly, how much, on average, have their clients had to reduce their asking price to close a sale?  This last question is important: You want to sell your million-dollar-plus home. But you don’t want to take a huge loss – something that could happen if you bought your home during the days of the real estate boom – when doing so.

What Will Your Real Estate Agent Do For You?

Agents who succeed in the luxury home market don’t just rely on the Multiple Listing Service and a “For Sale” to move their properties. They are master marketers.

When interviewing a potential agent for your high-end home, make sure to ask them exactly how they’ll market your property. You’ll want an agent who will create a separate website advertising your home. You’ll want your agent to create video tours of your high-end home that potential buyers can watch from the comfort of their own homes.

You’ll also want an agent who understands the benefits of advertising in niche publications. Some homes are ideal for retired couples. Others are appropriate for professionals such as doctors and lawyers. Your agent needs to target publications and websites that cater to these niche groups.

Connections Count

The best luxury agents have also formed deep connections in the high-end real estate community. They work closely with agents who represent buyers who are seeking million-dollar-plus homes. They work with corporations who need to find mansions for their relocating executives.

In short, they know the big players in the high-end market. These connections are critical to selling your home. Maybe a local corporation is bringing in a new vice president. You want your agent to have the connections that will lead this VP to your home.

Selling high-end real estate has always been a challenging task. The market for these properties is limited in even the strongest real estate markets. But today, the task is even more difficult. That’s why finding the right luxury specialist to represent your home is so important.