Selling luxury real estate in Malibu can be challenging. Luxury real estate transactions require expert negotiation skills, patience, and in-depth knowledge of this specific market. Educating yourself and working with a Malibu real estate agent who is well connected is important when selling your luxury property.
Before your list your home or work with an agent, consider these tips when selling luxury real estate in Malibu.
5 tips for Selling Luxury Real Estate in Malibu
1. Price Your Property Correctly
It is imperative to price your luxury home for sale effectively to place it at its best position in the current market. While it is common for luxury homes to sit on the market for longer periods, if your home is priced correctly, you are more likely to have a quicker sale. The price should be competitive from the beginning to attract luxury home buyers.
Your real estate agent should do a comparative market analysis to determine the ideal price to list your luxury home for sale. Most times homes within the same area are priced similarly. However, this varies depending on the amenities of each home, and may account for vast price differences.
2. Market Your Home Effectively
It is common in today’s digital world for home buyers to search for properties online looking at photos and videos before deciding to inquire over the phone. In addition to the MLS and all the major online real estate portals, your home should be featured on all the major social media channels, and niche real estate sites as well.
Nevertheless, print advertising and direct mailing should still be apart of your marketing plan to help provide maximum exposure for your property. For exclusive pocket listings, your real estate agent should be available for private showings.
3. Use Professional Photos and Videos
Videos and photos that are professionally taken can make a great deal of difference in marketing your property. A large percentage of luxury home buyers rely on virtual tours when looking for homes, as it gives them a “walk-through” from wherever they are in the world. So it is important to hire a professional experienced in luxury real estate photography or videography.
Ample lighting is one aspect that a buyer takes into account when purchasing luxury real estate in Malibu. So make sure to consider this when the home is photographed. Ask the photographer to highlight rooms that provide the best light.
Also focus on the amenities that set your luxury property apart from the rest: details such as handcrafted floors, vaulted ceilings, wine caves, and home theaters should be showcased.
Buyers who are interested in investing in luxury real estate in Malibu also care about location—be sure your photographer captures the best views, whether the property is overlooking the Pacific, or the lush greenery of mountains and canyons.
4. Time It Right
It is important to know the right time of the year to sell your luxury property. Spring and summer are always the busiest season in Malibu. If your property is on the beach, listing it for sale before the high season can be a good tactic.
However, because selling luxury real estate in Malibu is a unique process, it’s best to consult with your Malibu real estate agent on when is the best time to list your property for sale.
5. Work With, Not Against Your Agent
Selling a luxury home can take longer than other types of properties. It’s important to be patient and have open communication with your agent when you have immediate concerns that need to be addressed.
Sellers have certain expectations they want to be met, and it’s the agent’s responsibility to make sure what requests can accommodated, and to set goals that are realistic, timely and honest.
Contact Russell Grether for more tips to help you sell your luxury property. 310.994.4247