The problem – at least when it comes to determining a list price and a marketing plan — is that there is not just one difference, but many, and they are vast.
The average agent is more familiar with pricing property number one, and that’s because there are thousands of comparables. How many comparables do you think you’ll find in the area surrounding property number two?
So, how do I personally come up with market value for the luxury property?
The first rule of pricing luxury property is to know everything there is to know about every home in the neighborhood. I make a point of viewing every new luxury listing that comes on the market.
Now when I'm pricing the property, I’m not just looking at comparables on paper. I have actually been through each house and I know the layout, I know if there’s a telephone pole blocking the view, and, most important, I know and make note of each home’s amenities. Because, despite the fact that these properties aren’t identical, each home’s amenities factor into the formula for determining the market value of luxury property.
Luxury property marketing also requires knowing the audience
Marketing to the affluent home-buyer takes a lot more than a mere mention of a chef’s or gourmet kitchen. Understand the brands that ring their chimes, such as Crestron, Miele, Philippe, Downsview and Wolf. Highlighting a home’s branded features speaks to the home-buyer who identifies with that lifestyle.
Knowing all the possible audiences for luxury home marketing is one thing. Knowing which audience to target for a particular listing is something that takes experience.
Here's where your home will be professionally photographed and marketed:
~ High-end publications and magazines like UPMKT, The New York Times & Mansion Global.
~ Internationally in more than 90 real estate sites exposing your home to affluent investors, globally.
~ International publications are in the native language of each specific media market & site.
~ Stunning visual presentations for multiple social media outlets world-wide.
The Ferrell Realty Group at Keller Williams Realty
1700 Industrial Blvd
Abilene, TX 79602
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The information set forth on this site is based upon information which we consider reliable, but because it has been supplied by third parties to us, we can not represent that it is accurate or complete, and it should not be relied upon as such. The offerings are subject to errors, omissions, changes, including price, or withdrawal without notice. All dimensions are approximate and have not been verified by the selling party and can not be verified by The Ferrell Realty Group or Keller Willliams Realty or any of its affiliates. It is recommended that you hire a professional in the business of determining dimensions, such as an appraiser, architect or civil engineer, to determine such information.
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